Each day it seems like there is a new cryptocurrency that is making headlines, sometimes it’s hard to distinguish legitimate projects from the next passing trend. When Rally came across my radar, it seemed to me like something that could actually stick. According to its website, “Rally is a platform for creators and their communities to build their own independent digital economies.” Rally (RLY) is an Ethereum token that runs the Rally network. What really sets Rally apart from other currencies, is the fact that it allows artists and creators the ability to create their own “social tokens”. This means people can create their own branded digital economy.
What are Rally Creator Coins?
When creators launch their own social coin, they can encourage their fans to not just join their community, but their economy. Creators can hold giveaways of their unique coins which are backed on the Rally network. Some creators have started giving away physical and digital rewards to their fans who hold their crypto. The icing on the cake is that Rally doesn’t charge fees, it has a very low environmental impact, and artists who don’t have to have any technical knowledge to create their own coins. Creators also gain the knowledge of who owns their coins and transaction verification. Creators only need to apply on Rally.io in order to be approved for their own unique coin backed by Rally. Rally coin owners have a say in what happens to all money raised by artists, which creates a further sense of community and allows artists to engage with fans on another level.
Beecoin to the Moon
Creators can apply for their own branded currency on the Rally.io site. One example of a coin created through Rally is the BeeCoin ($Bee), which was created by Livibee an Australian Gamer/Cosplayer. When Livibee fans buy her personalized crypto, they get rewarded in Rally coins, just for holding her personal currency. What better way to attract fans than with free crypto? Another artist that has become a coin partner with Rally is Grammy winning band Portugal. The Man. The band created their very own PTM coin using Rally.
Rally’s creator Kevin Chou, who also founded the mobile gaming company Kabam, recently stated “creators will no longer be beholden to the changing value schemes of big social media platforms, which currently keep a lot of the proceeds generated by a creator. Any value built up in a Creator Coin economy is owned by creators and their communities and completely independent of big tech platforms.”
All in all this project is very intriguing, if Chou has his way, the concepts created by Rally will help bring the “next 100 million users to crypto.” I think that in the future, the only crypto projects that will have staying power are the ones that stand out from the crowd. Rally seems to be that kind of project.
How to buy Rally
Rally is available for purchase on Coinbase.