Launched on October 15, 2020, Rally.io is a project aiming to become the leading platform that helps content creators build their own independent, community-driven economies. The Rally network was designed with the mission of harnessing the full power of blockchain technology to solve the existing problems of the digital content industry.
The project brings together content creators, fans, and developers. It is an open platform based on the Ethereum blockchain that enables celebrities, content creators, and brands to build their own independent digital economies and supportive communities. Rally’s other key goal is to enable secure and verifiable peer-to-peer transactions between creators and their fans. The platform makes the process of establishing an economy very simple as creators do not need to have any experience with blockchains or cryptocurrencies. Anyone can easily launch a fully customizable community-driven digital economy on Rally.
The NFT platform created by Rally allows its users to support their favorite artists and become a part of their communities. Rally NFTs are minted on an Ethereum sidechain, which acts as a Proof of Authority (PoA) network to verify transactions. The process of NFT minting is free for creators. Rally users purchase an unlimited number of NFT editions and give these NFTs as a gift to someone else.
Rally is a decentralized network in which the community takes precedence over the company making decisions on how the network will evolve. The platform does not charge any fees for transactions or other activities and seamlessly integrates with creators' platforms.
As a fan engagement and monetization toolkit, Rally helps creators to launch their own social tokens known as Creator Coins, which represent brands, individuals, or communities and are fully customizable.
The utilities of the social tokens depend on their creator’s imagination and the network they represent. First of all, tokens can be used for peer-to-peer transactions. Members of Rally can unlock all other benefits of creator's economies by buying, holding, and exchanging Coins. They get access to exclusive content, events, private communities, backstage access, and tickets enabling creators to monetize their work. Fans can also interact and reward one another. Coins can be bought with a credit card or be exchanged for major cryptocurrencies.
At the time of writing, Rally has already created 200+ coins for artists, celebrities, gamers, streamers, musicians, athletes, and other talents including a Grammy-award winner Portugal the Man, Clubhouse innovators Bomani X and Christina Holder, international football star Keisuke Honda, and esports company Gen G.
The Rally token
The Rally token (RLY) is a utility and governance ERC-20 token powering the Rally ecosystem, which includes both the non-profit RLY Network Association and subsidiary projects built on RLY protocols.
The token sale was conducted in April 2021. The maximum RLY supply is limited to 15 billion coins. Minted at the genesis event on October 15, 2020, they will be released over a period of 8 years starting from this date. The tokens are allocated in the following way: 50% was reserved to reward the community for contributing to the network, 20.4% is intended for treasury, developers, technical partners, and liquidity providers, 15.3% of the overall supply is kept for seed investors, 14.3% was left for the team and advisors. The team and seed investors’ funds are locked for 12 months and will be released during the next 4 years. Besides, the voting function is also blocked in the first year.
Creators and their supporters are able to earn weekly rewards in the form of RLY that they receive directly to their wallets. They can also convert their Coin into RLY, or bridge it in the form of RLY to their Ethereum wallet. Any value acquired on the Rally platform in the form of Coin is locked in the sidechain. The price of a creator’s Coin is determined by its circulating supply and demand, the overall number of transactions, and the current market price of RLY. In addition, Rally tokens and Creator Coins can be used to buy NFTs. However, there is no possibility for the project participants to sell NFTs minted on other platforms on the Rally sidechain.
RLY holders get the right to manage all major changes on the platform and to vote on proposals and policies at the network level. The Rally token is available for buying and trading on some reputable cryptocurrency exchanges such as Huobi Global, KuCoin, Coinbase, ZT, and Hotcoin Global.
Rally’s team and partners
The team behind the Rally network has years of experience in computer games, hardware, software, virtualization, social media, network security, virtualization, and customer service.
The Rally project was founded by entrepreneurs Kevin Chou and Mahesh Vellanki. Kevin is also the founder of Forte, economic technology for video games, and Kabam, a mobile gaming company. Johnny Tong is the Head of Finance at Rally. He also worked as a director at Peet’s Coffee and a managing director at DAYe Capital. Other team members include Joe Coufal, a communications manager, Tam Gryn, the Fine Arts Director, Marc Gonzales, the Director of Finance, and James Kwon, a controller. Nick Millman, responsible for building and managing a high-performing team, has been the Vice President since March 2021. He is also a senior advisor at Brat TV.
The Rally project has established partnerships with several data providers such as Nomics, Coinbase, and a media project Deadline. It has partnered with CoinList for the first liquid token sale. Its original investors included Andreesen Horowitz, Steven Chiang from Warner Bros, Canaan, Battery Ventures, Kenetic, Green Bay Ventures, and others.