Rally, a leading crypto platform for creators, announced its personal token representing a piece of their digital brand, called a ‘Creator Coin,’ on the Rally blockchain (a sidechain to Ethereum).
Rally offers a suite of traditional web2 APIs to make it easier for creators to integrate with their sidechain, including the authentication of fans and blockchain exploration.
Fans can purchase Creator Coins with the RLY token, an ERC-20 available on both Ethereum and Rally.
Traders who own a Creator Coin can access unique experiences (like direct communication with creators on Discord, limited releases of content and merchandise, private events and meetups).
Fans are also incentivised to help grow the creator’s brand, as it increases the value of the coin – and equivalently – their holdings.
Communities can also earn weekly rewards from the protocol in the form of RLY tokens, which are then distributed to community members based on how much of the associated Creator Coin they hold, benefiting fans and creators alike.
Everyone to own piece of their digital brand with Rally
Hundreds of creators have already launched Creator Coins on Rally, including band Portugal the Man and Twitch streamer Alliestrasza, and are hosting unique experiences for fans that purchase their coin.
Over 40,000 individuals joined the initial token sale of RLY, demonstrating the public’s eagerness to engage with creators by owning a piece of their digital brand.
Rally also said that it will commit around $12 million in $RLY tokens from it’s community-approved budget to third-party developer grants to expand the functionality of social tokens and NFTs purchased by fans from their favorite creators on the platform.
The team added it is facilitating the election of a community developer-led council to support the distribution of these grants.