Creator Monetization Project Rally Raises $57 Million for Community Treasury to Fund Community Driven Growth
Top Creators Driving More Than $100K USD Weekly Into Their Creator Coin Economies Powered by Rally; More than 1M USD in $RLY Rewarded to Creators Each Week Via Community Activity Rewards
Rally, a community-driven crypto project that empowers creators and artists to launch their own digital currency to build sustainable, independent economies, announced $57 million in funding for its community treasury through community approved sales of $RLY, an Ethereum blockchain-based asset that can be sent and received in the Ethereum mainnet network. The nature of this fundraise was unique – it was approved and led by the decentralized Rally community to fund the treasury that the community fully controls, and ushers in a new era in active and effective community governance.
The project is continuing its growth through new community activity rewards and a forthcoming NFT platform. In addition, Rally has expanded its community appointed leadership team to include former Patreon executive Bremner Morris as CMO/CRO to assist the Rally community with go-to-market strategy and drive creator adoption and success. Michelle Vautier has joined the Rally project as VP Payments & Platform Partnerships, and former Twitter and BratTV executive Nick Millman has joined as VP Creator Partnerships.
Rally.io features 100+ Creator Coins including Grammy-award winners Portugal.The Man ($PTM) and !llmind ($BLAP), dance music artist/producer Jauz ($BTX); Clubhouse innovators Bomani X ($BOO) and Xtina Holder ($WOMXN); streamers/gamers Alliestrasza ($ALLIE) and FanHOTS ($FAN); hip hop legend Fab 5 Freddy ($FAB5) and more. Currently, Rally’s top 5 creators are driving on average $102k USD weekly transaction volume and $29k USD in $RLY rewards per week.
“In a few short months, the Rally network has taken great strides in empowering creators, artists, influencers and their fans to embrace crypto and pioneer new paths for monetization and community building,” said Kevin Chou, Rally co-founder. “The Rally network continues to expand led by innovative creators that are integrating their creator coins into their communities to establish flourishing digital economies. Through the successful adoption of their coins, creators are driving hundreds of thousands of dollars per month in transactions and community activity rewards. All powered by a platform that takes no fees from artists and is built in an eco-friendly way to support the minting of creator coins and NFTs.”
Recommended AI News: CIVICA Selects Vonage for Next Generation Local Authority Communications
$57M Raised for Community Treasury
Through decentralized community governance, the Rally community approved two separate fundraising events to fund its community treasury and empower its continued growth. In January, the Rally community approved a community treasury fundraise and successfully raised ~$35 million USDC through its community agent. The Rally community also approved a sale by CoinList through its token distribution platform, which took place between April 1-3, with a max purchase threshold of USD$1000 per participant. This distribution resulted in an additional $22M USDC for the community treasury, with more than 40,000 new overseas users becoming part of the $RLY community following the sale. Proceeds from these community-approved sales of $RLY flow to the Rally community treasury, which is governed by the community and spent through community-led governance proposals designed to better the Rally network. No company or centralized party controls or has access to these funds.
More than 1M USD in $RLY Disseminated to Creators and their Coin Holders Each Week via Rally Community Activity Rewards
Rally Community Activity Rewards are designed to programmatically reward creator communities who actively participate in the Rally Network by purchasing and holding Creator Coins and give direct value to the creators and fans that are driving the most utilization of their social token economies. This marks the first time creators and their communities have been able to earn rewards simultaneously.
The Rally Network disseminates more than $1M USD in $RLY to creators and their fans on a weekly basis.
Forthcoming Eco-Friendly NFT Platform
The Rally Network will soon unveil a one-stop-shop for creators to launch their own social tokens and also create and sell NFTs via their social token and USD. The goal is to make NFTs accessible to every fan, while providing new opportunities for creators looking for an eco-friendly alternative.
Recommended AI News: Mighty Networks Raises $50 Million Equity Round to Build the Creator Economy for All
NFT platform benefits include:
The majority of existing NFTs today are minted on the energy-costly Ethereum blockchain; in layman’s terms, they are created (“minted”) based on a process known as proof-of-work (PoW), which necessitates the use of large networks of processing machines that result in carbon emissions. Rally’s sidechain will provide an eco-friendly alternative for artists and creators who want to explore NFTs without fear of harming the environment.
Integration into a creator’s overall economy
NFTs are currently very transactional and not integrated into the overall fan experience. By integrating these NFTs into the creator’s overall economy and providing options for fan participation, Rally’s approach to NFTs will allow for a more inclusive and fan-oriented NFT experience. For example, several early launches will feature opportunities for fans to earn an NFT.
- Next month, Rally will launch a beta version for existing creators, with the full stand-alone project coming this summer. Launch partner creators will be announced at a later date.
- Expanded Community Leadership Team
- The Rally project has expanded its leadership to include Bremner Morris (Patreon) as CMO/CRO, Michelle Vautier (Patreon, Facebook) as VP Payments & Platform Partnerships and Nick Millman (Twitter) as VP Creator Partnerships.
Bremner Morris (CMO/CRO)- Overseeing all go-to-market initiatives. He is responsible for driving the awareness and adoption of Rally in the creator, fan and crypto communities. Previously, he led the development of Patreon’s global go-to-market organization.
Michelle Vautier (VP, Payments & Platform Partnerships) Drives creator-led commerce, value creation and expanding Rally into the payments space in service of Creators and their economies. Michelle has 14+ years of Global Payments experience focusing on opening markets and solving hard problems. Most recently was the GM and VP of Payments at Appfolio Inc. Prior to that she led Payments and Global expansion at Patreon, Facebook, Mastercard and Netflix.
Nick Millman (VP, Creator Partnerships) Leads team focused on creator recruitment and expanding Rally into new and diverse verticals and creator niches. Previously, Nick was the COO and founding member at Brat TV and Global Director of Content Partnerships at Twitter.