Victor Alvarez was a resident of Hell's Kitchen. Víctor was the son of a marriage on the breaking point. His father was part of a protest of residents of a building which was scheduled for demolition. The building was destroyed by Bullseye, and the developers left the place, fearing the potential repercussions of building on land associated with the death of 107 taxpaying citizens.
But there was a 108th resident: Victor. He somehow survived by harnessing his chi, to transform his body into a thing like unto iron. Crawling from the wreckage, he stayed with his mother.
His activities were unknown, but when Daredevil extended the Hand's power over Hell's Kitchen, creating a blanket of fear, he chose the identity of Power Man, to protect his neighbors. This drew the attention of Luke Cage, the previous Power Man, and Iron Fist, who was intrigued that he could use one of his signature moves without ever seeing him. Victor has expressed disdain for both men, in particular Luke Cage, who he accuses of "selling out". Luke Cage left him, but Iron Fist decided to stay and learn more of his past and his potential powers. Together they found out of how he survived the collapsing of the building and how he knew of the power only Iron Fist and his students knew. Before he died, the chi of all the residents flowed into him, one of those residents being one of Danny's students.
Together Iron Fist and Victor worked together to take down Daredevil and then went on their own adventure together.
Victor joined Danny in joining the Heroes for Hire, along with Luke Cage and White Tiger. They all started believing they were meant for something more and decided to create their own Avengers team. Based off a hastag, they named themselves the Mighty Avengers. Since joining, Victor and Ava have bonded tremendously, together they discovered two new abilities to fuse her White Tiger God based powers and his chi manipulation. The first being him able to move chi from people within their area into Ava creating a White Tiger made out of chi. The tiger was so powerful that it was able to destroy Shuma Gorath.  Feeling grateful that Victor enabled her to control that kind of power, she later re payed him by transferring some of her power to him. Being that Ava has a lot more chi than the average person, it gave Victor tremendous amounts of power, enough to take out a Cerberus or demonic three headed dog. Him and Ava called their combo the New York Tiger-Style Kung Fu'. 
Regenerative Durability: According to Deadly Nightshade after Luke Cage left Vic (Shades) and Comanche's gang, Comanche and Shades, wanted to step up their game (criminal enterprising) and so they came to her, for new weapons. She gave Shades a new visor which generated optic blasts by pulling in bioelectric energy from the environment. According to her the absorbing crystal became embedded in Victor's skin when Bullseye blew up his city block killing 107 people and instigating the Shadowland arc. However, according to Iron Fist, Vic's powers aren't based in technology, but spirituality. Danny says that when Vic's building exploded, he absorbed the lifeforce (chi) of all the deceased people in self-defense, including one of Iron Fist's Thunder Dojo students, Javier. Javier was the only student who mastered the "Screaming Eagle Slap" but was killed in Bullseye's blast. Danny surmises that this is how Victor knows the K'un L'un technique without ever having practiced it himself.
Chi Manipulation: Victor can absorb chi from his environment, granting him superhuman strength, generation of personal force fields and accelerated healing; Victor glows when empowered in the same way when Iron Fist powers up his chi fist punch. He can explode chi outward through punches, use chi to enhance the vitality or superpowers of others while in direct contact, and can channel messages through bioelectric frequencies. Victor once absorbed chi from multiple sources simultaneously, briefly growing giant-sized with increased strength. He recently displayed enhanced abilities of chi in conjunction with White Tiger: he was able to track her by her chi signature, and transfer the chi from the entirety of New York City into the spirit of the White Tiger to defeat Shuma-Gorath. He sometimes experiences memories of those who died in the tenement's explosion.