Episode 40 of Season 3 of The Scoop was recorded remotely with Frank Chaparro of The Block and Kevin Chou, CEO of Rally.
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Imagine a world with not just a few thousand cryptocurrencies, but billions of them.
This is the vision of Rallye CEO Kevin Chou. Mobile game heavyweight founder Kabam joined The Scoop’s Frank Chaparro to talk about the development of Creator Coins, which are blockchain-based tokens that are tied to a person’s social capital.
âWe thought aboutâ¦ if you have instead of just thousands of tokens in the world, but you have millions of tokens, tens of millions of tokens, a billion tokens at some point, how do you create a world? where people can easily trade this value? “
Certainly, this is the start of the Rally. The company has onboarded around 160 creators, and that number is growing, with a community that spans athletics, art and music.
Rally is currently working with musicians like Portugal. The Man, as well as streamers, gamers, celebrities, athletes and more to create their own fungible tokens through their network.
According to Rally, the decentralized community $ RLY has raised $ 108 million to date for its community treasury. TThe project provides a platform for creators to issue their own âdesigner piecesâ that allow them to engage directly with fans and offer tailor-made incentives – as well. by giving them the power to “appropriate their economic destiny”, as Chou puts it.
But the vision is much broader, according to Chou, who said in the interview:
âHow can we ultimately think of a world where more and more people choose to build their online identity, reputation and financial means on a blockchain. And that’s the kind of world we’re trying to solve here on Rally.
Chou believes that for many, Rally will be most people’s first foray into cryptocurrency. He said the project aimed for Rally to provide this valuable medium without creators needing to work with other services to create their own tokens.
âWe want, again, to make sure that the early creators, the early communities, the early fans, who come to Rally and get into crypto for the first time, that there are some really strong use cases. , that there are a lot of apps, and integrations into various social media tools and sites and other services.
Chou also highlighted the importance Rally places on complying with regulatory commissions, saying, âWe have invested over $ 10 million just in compliance, civil works and technology associated with Rally.
Cabbage also discusses:
- Rally’s plan to create network rewards for creators
- How creators are already earning significant income with Rally
- How Rally aims to work with regulatory commissions around the world
Â© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.