Pantera Partner: Understand the new creator-driven network Rally

  • The Internet age has a distinctive feature, that is-more and more “creators” will make and share content on the Internet to attract people’s attention, and some people will even make a living from this. However, historically, many platforms provided for creators are highly centralized and restrictive, which not only affects the interaction between creators and fans, but is also not conducive to building a community.
  • Rally is a new creator-driven network that can help creators better interact with fans through custom cryptocurrencies.
  • Creators can launch personal tokens representing their digital brands on the Rally blockchain ( Ethereum sidechain), which we call “Creator Coin” (Creator Coin). Through Creator Coin, creators can obtain incentives, and then further provide unique and fascinating utilities to develop their brand (if the brand value increases, the value of the token will also increase, and at the same time, the brand value can also appear through the value of the token. ). Rally also provides a set of traditional Web 2 application programming interfaces (APIs) to make it easier for creators to integrate with their side chains, including fan authentication and blockchain information browsing.
  • Fans can use RLY tokens to purchase Creator Coin. RLY tokens are based on the ERC-20 token standard and can be used on the Ethereum and Rally chains. Fans with Creator Coin can get a unique user experience (such as direct communication with creators on Discord, access to limited-edition content and merchandise released, participation in private events and parties, etc.). If fans provide help for the development of the creator’s brand, they can also get Creator Coin incentives. When the creator’s brand develops better, the value of Creator Coin will increase (the value of the assets held by fans will also increase).
  • The community (including creators and their fan groups) can also receive rewards in the form of RLY tokens from the agreement every week, and then the Rally agreement will distribute proportionally according to the number of relevant Creator Coins held, allowing fans and creators to be community members Both benefit.
  • At this stage, hundreds of creators have launched Creator Coin on Rally, including Portugal the Man band and Twitch anchor Alliestrasza. These creators are providing a unique experience for fans who purchase their Creator Coin. Previously, more than 40,000 people have participated in the RLY initial token sale. Such a large scale fully demonstrates that the public is eager to interact with creators by owning their own digital brand.
  • In the end, Rally will completely reconstruct the relationship between creators and fans. Both parties will jointly own and develop digital brands, and creators can gain a closer and more engaged fan community than ever before.

Creator age

In modern history, one of the most decisive features is the explosive growth of the number of public figures. The Internet provides a place for billions of people to interact with ideas and content more freely than ever before. At the same time, more and more people are becoming popular because of the content they produce and publish:

  • Record companies began to search for grassroots musicians from YouTube and sign contracts;
  • Internet celebrity marketing is already the main means of D2C’s market entry strategy;
  • Young people are trying to build “hundred-million-level” fan attention.

More and more people are beginning to refuse to follow the traditional career path and become creators-they make and share content online, build a large number of fans, and in this way obtain a satisfactory and healthy life.

Historically, creators have had to use multiple platforms to support their creative content businesses. For example, if you are a fashion video maker, you might need to–

  • Create a channel on YouTube that can earn advertising revenue
  • Create a personal page on Patreon to interact with paid subscribers
  • Create a list of service providers that make clothing on Etsy
  • Set up an online store on Amazon, and recommend fashion brands and items to fans

All of the above platforms are centralized (usually very clumsy to use) and almost impossible to achieve interoperability. This will undoubtedly bring a fragmented experience to creators and their fans, and they can only use channels that cannot interact. Communicate. And in many cases, these platforms will also censor the content and business of creators, and even have the power to directly destroy the connection between fans and creators. Now, as the creator economy continues to grow, there is an increasing demand for constructing monetizable and interoperable solutions for the interaction between creators and fans.

What is Rally?

Rally is a new creator-driven network that uses the establishment of a vibrant digital economy on the blockchain to help creators better interact with fans through custom cryptocurrencies. Through Rally, creators can launch their own customized cryptocurrency, which actually represents a kind of “membership.” Fans with creator cryptocurrency can obtain unique experiences and content, which can not only contribute to the creator’s personal digital economy, but also establish an unprecedented seamless way of participation between creators and fans.

How does Rally work? 

The key to the Creator Coin project is the Rally network, which is the proof-of-authority consensus (PoA) side chain of the Ethereum blockchain. The Rally blockchain and the Ethereum blockchain are independent of each other, but the project’s governance token RLY (an ERC-20 token can be used on two chains and can be traded between the two chains). bridging.

Creators can launch a unique custom cryptocurrency on the Rally network, which we can call “Creator Coin” (Creator Coin). Creator Coin is also a tokenized representative of the creator’s own digital brand, which can appreciate as the size and utility of the creator’s brand grows. When creators join the network, Rally will provide a large amount of Creator Coin. They can hold or distribute these tokens as needed. They can also randomly airdrop their Creator Coin to the fan group or sell it to fans in exchange for RLY tokens. currency.

Not only that, Creator Coin can extend the brand utility of creators directly to fans. As the creator’s brand effect continues to develop, the value of the corresponding Creator Coin will also increase, thereby forming a positive feedback loop between fan participation and the value of token holdings. Creators can also provide unique experiences and content for fans who have a certain number of Creator Coins. For example, fans with 10 Creator Coins may be invited to a private Discord community for fans with higher participation; fans with 50 Creator Coins can directly send messages to creators. Rally also supports creators to mint and sell NFTs on the Rally blockchain, and fans who hold Creator Coin can use the token to purchase. If they wish, fans can also directly sell Creator Coins at the transaction price to exchange them for RLY tokens, and then exchange RLY tokens for any other tokens on the Ethereum blockchain (if fans exchange all the Creator Coins in their hands) , Which also means that they will “leave” the creator’s fan base). In addition, Rally also provides——

  • An application programming interface (API) suite supports interaction with its side chain
  • Provides key functions such as block explorer and webhook for Creator Coins events
  • OAuth2.0 function to authenticate users with Rally account

Compared to the past, creators can now build encryption-driven businesses more easily, and complex technologies can be “fixed” without hiring professional blockchain engineers.

Rally

It’s worth mentioning that Rally provides Community Activity Rewards. If creators and fans have a high degree of participation (tracked by related Creator Coin holdings/transactions/usage), then they can get incentives. , The Rally agreement will also distribute a certain amount of RLY tokens to relevant communities. Community members can be distributed proportionally according to the number of relevant Creator Coins held, so that community members such as fans and creators can benefit.

All in all, the Rally project has adjusted the incentive measures between creators and fans around Creator Coin, rewarding the deep participation between the two, so that the value of creators’ own digital brands (and fan assets) is truly increased. More importantly, Rally does not participate in any transactions-this is very different from the creators’ business model of most Web 2 platforms. The Rally team only makes profits through the appreciation of RLY tokens.

How to use Rally?

Today, hundreds of creators and public figures have launched their own Creator Coin on Rally, including:

  • Portugal the Man band, launched PTM Coin;
  • Twitch anchor Alliestrasza launched ALLIE Coin;
  • International football star Keisuke Honda launched KSK Coin.

Fans holding Creator Coin can get an incredibly unique experience, such as:

  • Get a special invitation to participate in the game competition;
  • Early access to limited-released music, artwork, fashion clothes, etc.;
  • Communicate directly with creators through Discord;
  • Earn RLY rewards every week.

Some creator platforms can also launch their own Creator Coin on the Rally blockchain to strengthen the relationship between creators and fans. For example, the online fashion market Clothia recently launched CLOTH Coin, allowing designers and consumers to directly interact with each other. Contact and get rewards from participating.

Previously, more than 40,000 people have participated in the RLY initial token sale. Such a large scale fully demonstrates that the public is eager to interact with creators by owning their own digital brand. Recently, Rally also launched a sister platform Unite.io, which focuses on the Asian market, allows deeper integration of regional creator platforms, and is more flexible in terms of encryption supervision.

Final thoughts

As the number and popularity of creators continue to grow, there is an increasing demand for creators to monetize their content in more diversified ways; for fans, a new way to engage with creators The need to interact and earn rewards through self-dedication has also become more and more urgent.

By enabling creators and fans to get better incentives, and at the same time consistent with the development of the creator’s brand, Rally can better meet these needs: by providing fans with an innovative and unique experience, the value of Creator Coin will increase and creation The creators can also be motivated; at the same time, if fans want a better participation and interactive experience, they will also be motivated to buy Creator Coin and gain financial benefits in the growth of related creators.

In the end, Rally will completely reconstruct the relationship between creators and fans. Both parties will jointly own and develop digital brands, and creators can gain a closer and more engaged fan community than ever before.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/pantera-partner-understand-the-new-creator-driven-network-rally/
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