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What is Rally Coin (RLY) Token, Rally.io App and NFT Marketplace?

What is Rally Coin (RLY) Token, Rally.io App and NFT Marketplace?
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Rally.io (Rally) is a blockchain-based content platform for brands and creative artists to interact with communities in new ways. The Rally cryptographic ecosystem operates on the RLY network, in conjunction with the native Rally token (RLY). Creators and communities can use the RLY token to purchase Rally Creator Coins to show support for their favorite brands.

With a central focus on decentralization and community-driven growth direction, the Rally Cryptographic Content Platform enables creators to form independent, self-managed digital economies around their brands. Making media headlines with celebrity endorsements and funding, Rally.io sees a continued increase in adoption with additional development plans.

What is Rally.io and the RLY Network?

Rally.io is a blockchain which provides “crypto for creative communities” operating on the RLY network built on Ethereum. Crypto content platform Rally offers artists, brands, influencers and individuals the opportunity to create their own “creator coins”. Additionally, users of Rally creator coins do not need prior cryptocurrency experience, offering a friendly user experience for blockchain newbies (UX). Furthermore, the Rally crypto project allows anyone to buy coins from the Rally creator using a regular debit or credit card!

Rally.io creates a space for a decentralized content hosting platform with secure and publicly transparent interactions with user fan bases. Additionally, the Rally cryptographic content platform offers existing influencers the ability to monetize their content. Plus, this allows your fans to earn rewards too! This is possible thanks to the native token ERC-20 Rally (RLY). The RLY token allows true decentralization of the platform and forms the backing of the Rally creator's coins.

Rally Creator Coins are artist-specific social tokens, a type of cryptocurrency that represent a community, an individual, or a brand. The Rally.io platform presents a new way to encourage engagement between creators and their fans and community. Furthermore, artists are free to choose the utilities of their social tokens, while Rally is developing the accessibility of creator coins on the decentralized web.

As one of the most active projects on the RLY network, members of the Rally.io community voted to split the project ecosystem five times in August 2021. Addressing issues of decentralization or lack thereof, founding members held the majority of RLY Tokens in the time. As such, the project has spread across multiple business models. This comprises a registered company, a non-profit organization, an affiliate, venture studios, and a decentralized autonomous organization (DAO).

How Does Rally (RLY) Token Work?

Rally allows each creator to create their own digital economy around their currency, thus creating a direct connection between creator and community that is independent of specific platforms. Creator coins are issued according to a token binding curve, a linear curve with a starting price of 1% of the current RLY price for the newly released token. Using this mechanism, the RLY price supports the creator's currency with a maximum token supply of 21 million creator's coins available. 5M are issued as the genesis value and partially purchased for three years.

The Rally offers community activity rewards as an incentive to reward creator communities that actively participate in the platform. Each token holder earns a proportionate share of the community's rewards, meaning that the community as a whole directly benefits from the activity of each individual member. In simple terms, rewards are calculated by comparing a currency's total funds RLY in one week to the average support over the past four weeks. Users can join multiple communities and earn rewards across the platform. Creator coins are also subject to flow controls, with only 5% of the total inventory of any coin in 30 days being eligible for withdrawal.

Some of Rally's most valuable creator coins feature:

  • HLTH Community, a currency that brings together the most innovative minds in healthcare to launch crypto-health applications.
  • Joe Pulizzi, founder of The Tilt, a media company focused on helping content creators become content entrepreneurs.
  • Keisuke Honda, former Japanese football player, coach and investor.

Rally Features

Rally puts the community instead of the company: As it is a decentralized network, all decisions are made by the community, in the community and for the community.

It's safe and solid: Rally was founded by the industry's top talent with over 3 years of experience to create the most advanced and robust security infrastructure.

It's easy to operate and rewarding in the long run: it doesn't require any cryptographic knowledge to manage, buy or sell. This allows fans to buy coins in minutes with just a credit card and no platform fees, gaining access and exclusive benefits with their creators.

RLY network ecosystem

The RLY network ecosystem comprises multiple business model infrastructures to ensure complete decentralization of the Rally cryptographic content platform and the RLY network itself. Following a concern around RLY tokenomics, the Rally.io team reached out to collaborate with the community to improve the issue. In turn, the vote for the “decentralization of the RLY network” resulted in the redesign of the project's infrastructure. The names and responsibilities of each element are as follows:

First, the “RLY network association” is a registered corporation that oversees project development, network rewards, and community treasury. As an affiliate of the Rally.io platform, another creator-focused platform on the RLY network is “Unite”. Unite offers a platform similar to Rally.io, allowing users in Asia to create their own community currencies and non-fungible token (NFT) assets for fans.

The autonomous decentralized RLY ecosystem organization (DAO) is managed by the Project Rally Token (RLY) holders. The RLY DAO ecosystem governs and aims to expand the utilities for the RLY token and RLY network applications. In addition, the venture-studio arm of the RLY network, “SuperLayer Labs”, also follows a similar approach. With a mission to fund developers with ideas for the RLY token utility, SuperLayer Labs hopes “to be to the Rally network what ConsenSys was to Ethereum”. As such, after the community's RLY network decentralization vote, a large proportion of RLY tokens were distributed to SuperLayer Labs to invest in Web3 projects.

In a recent press release, rapper Nas, footballer Joe Montana and Paris Hilton are among many celebrities who say they are supporting the launch of the SuperLayer Labs project. All aspects of the RLY network ecosystem operate on the RLY network blockchain, a side chain scaling solution from Ethereum.

RallyToken (RLY)

The native multi-utility asset is crucial for the smooth operation and security of the RLY network and the Rally.io platform. Furthermore, as an ERC-20 token pattern, the Rally (RLY) token can be seamlessly integrated between the Ethereum mainchain and the RLY sidenet. In addition, there are four main RLY token utilities.

First, Rally token (RLY) holders can earn passive income from their assets through liquidity provision. As a result, RLY token holders can receive liquidity staking rewards, putting their assets to work for returns while they sleep. Second, RLY token holders can join Rally Discord groups (both “Creator Coin” and “$RLY” groups). By showing consistent active involvement and participation, RLY token holders can achieve special roles in the community.

The third and most important role of the Rally token in the operations of the cryptographic content platform Rally is as a medium of exchange for buying and selling creator coins. The RLY token is the only cryptocurrency tradable with Rally creator coins. Also, this is in addition to being able to buy Creator Coins with debit/credit cards. Finally, the fourth function of the RLY token allows holders to vote on community updates and proposals on Rally.io and the RLY network.

Governance Rally

During the initial development of the Rally cryptographic content platform, Rally.io, the project was a small centralized team of developers. However, the team created Rally.io with a design for future scalability and decentralization. As such, as of October 15, 2021, the project introduced “Rally Governance”, allowing the community of Rally Token (RLY) holders to participate and navigate the direction of changes and developments on the RLY network.

The Rally Governance community governs the parameters of the Rally cryptographic content platform. In addition, owning the Rally Token (RLY) allows members to vote on the acceptance/removal of Rally creators, RLY token awards, community treasure prizes for creators and any technical or network updates.

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Rally Governance is a three-stage process, active on three different platforms. First, the Rally Discord allows all community governance members and project enthusiasts to exchange opinions on anything related to the Rally. Members can then create and discuss updates and proposals discreetly on the Rally forum. Afterwards, the Rally Instant allows Rally Token (RLY) holders to vote on proposals simply by connecting their Ethereum wallets and holding the native asset.

The most popular choice of Ethereum compatible Web3 wallets is MetaMask. For a video tutorial led by industry experts on how to download and install MetaMask, check out the DeFi 101 course at Moralis Academy! Additionally, we show students how to use MetaMask to interact with popular DeFi platforms including Aave, Curve Finance and Uniswap !

Rally.io for content creators

The Rally.io content platform offers a new route of engagement and encouragement to connect creators with their communities. In addition, Rally.io's market focus is on “any streamer, artist, musician, player, celebrity, athlete or content creator” looking to develop their interactions with fans.

By using the Rally Cryptographic Content Platform, creators are bringing the opportunity to their fan base and communities to earn rewards for engaging with their content. This is in addition to the creator earning rewards for generating catchy and exciting content. Rally allows creators to build a fully independent and globally interactive digital economy around their brand. In turn, creators and brands can interact with their communities in new ways.

coin maker

An exciting new way for creators to interact with their followers is by introducing Rally Creator Coins. By operating as a cryptographic social token, Rally Creator Coins are representative of the artist or creator. Rally creator's coins are non-partisan, building a digital economy independent of the creator's brand. Rally Crypto Platform creators are free to build and choose their own loyalty and rewards schemes, plus coin utilities for Rally creators and marketing campaigns. As such, this opens up the opportunity for more personal and exclusive connections with communities.

breeder profile page

Every breeder on Rally.io will create a breeder coins page. This includes a “Creator Profile” page, “Coin Usages and Benefits” and “Active Campaigns” tabs. On the creator's profile page, fans can see the creator's preferred name, a brief biography, profile picture, and soon a banner and campaign card.

Users of the Rally Cryptographic Content Platform will initially go to the “Overview” section of the Creator Coins page. From here, users can choose to view the creator's currency tokenomic structure and benefits or check all active campaigns. Creators may be selling experiences, digital assets, physical goods, or experiences.

Rally.io offers a "public ledger that provides a high-level view of a currency's economics" under the "Activity" tab. Here, users can view community statistics around a creator coin's parameters and activities. The creator's total number of backers, transactions, token RLY, and circulating supply of coins are publicly available to all creators. Furthermore, the “Activity” tab shows various statistics surrounding recent network activity, including transaction type, time and amount of amount.

NFTs Creator

The Rally Cryptographic Content Platform allows creators to deploy their own non-fungible token (NFT) assets. Since NFTs have the ability to tokenize just about anything, creators are free to choose the asset type. It can be a song, a graphic, a video, an experience or all of the above combined!

To create a non-fungible token (NFT) , creators must first have some native rally tokens (RLY). Rally.io provides a detailed guide on how to deploy assets through its platform, including all the relevant information a creator needs. In addition, the Rally Cryptographic Content Platform offers many different ways to introduce and sell NFTs. Breeders can choose between “Buy Now”, “Auction”, “Open Edition” and “Mint Only” templates as different ways to “put” NFTs in their communities. Additionally, creators have the option to create free giveaway campaigns, handle private third-party sales, and use Rally's Discord bot auction model. This means that creators can give away free NFTs using the Discord bot and the coin bot panel.

Creators get a “Collection” page by proxy when generating non-fungible tokens ( NFTs ) with the Rally Cryptographic Content Platform. In addition, creators have full autonomy over the banner design and collection description fields. With a fully customizable collection page, creators can share website link to external social media platforms with ease.

Creator Panel

Available to creators only, the project offers a “Dashboard” tab for creators to view real-time analytics of their Rally Creator coin activity. Breeders can view data over different periods, from the last seven days (7D) to 30 days (1M). Also, creators can choose to see the entire history (ALL) if they wish.

The dashboard tab displays details related to the maintenance activity, buying and selling coins from the creator. It provides insights into the number of new supporters, the amount of purchases and sales within the defined timeframe. In addition, creators can even view the number of “upload” transactions and a leaderboard of the top 50 active users.

The leaderboard aggregates data from the most active users of a Rally Creator's currency from a creator. This includes major buyers, sellers, shippers and movers. The top moves show the top three buy or sell transactions within the selected time period. Finally, the dashboard tab provides a link to view general ledger activity for the RLY network. This can give creators more insights when comparing rallies with coins from other artists' rally creators.

RLY Token Rewards Rally (Community Activity Rewards)

The Rally crypto content platform offers enthusiastic communities and fanbases of creators and artists to earn rewards for interacting and engaging with content. This is thanks to the relatively new addition of the Rally Community Activity Rewards Scheme. In addition to earning rewards from campaigns and activities from creators' coin brands, the community will receive an additional reward in Rally Tokens (RLY) "proportionate to their holdings of that community's currency".

Available for the first eight years after launch, Community Activities Rewards are awarding RLY tokens from brands and communities active in the Rally cryptographic ecosystem. In addition, every member of the community or brand also benefits from receiving RLY tokens! Brands encourage community members to be as active as possible with their Rally Creator Coins to receive extra RLY token rewards. Thus, both content creators and content consumers in the community benefit from interacting with the cryptographic content platform Rally. The token pool for community activity rewards is from a distribution from the usage reward pool of the RLY token network.

What is the Price Forecast for the Rally Cryptocurrency (RLY)?

The price of the Rally is forecast to reach a maximum level of $1.082 throughout 2022.
As early as 2023 according to our crypto price prediction index, the Rally Token (RLY) could reach a maximum level of $1.837, with the average trading price of $1.366.

In 2025 according to our crypto price prediction index, the RLY token must cross an average price level of $1.621, the minimum expected value of the Rally price at the end of the current year must be $1.790. Additionally, RLY can reach a maximum price level of $1.918.

Having said that, before making any investments, do your research, investing in cryptocurrencies is highly risky and speculative, and this article is not a writer's recommendation to invest in cryptocurrencies.

Where to buy Rally (RLY)?

The RLY cryptocurrency is available on the following exchanges:

  • Uniswap (V2)
  • Huobi Global
  • KuCoin
  • Coinbase
  • Gate.io

Conclusion

Rally.io is a blockchain content hosting platform with a focus on community and decentralization. With a recent redesign of the infrastructure in the Rally cryptographic ecosystem, the RLY network is made up of five subsidiaries that incorporate various business models. Furthermore, the native Rally token (RLY) is vital for security and user interaction with the Rally.io platform and across the entire RLY network.

Crypto content platform Rally is showcasing a new way for content creators, artists, influencers and brands of any kind to create their own digital economy. As such, this gives artists endless opportunities to uniquely interact with their fan base using Rally Creator Coins. Additionally, creators can design and sell various types of non-fungible tokens (NFTs). Also, creators are free to design their own creator profile page and collection page that can be easily shared on other social platforms.

More information about RLY

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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