After a successful launch late last year, Rally, a community-driven crypto project that enables creators and artists to launch their own cryptocurrency to build sustainable, independent economies, today announced $ 57 million in funding for its community treasury through community-approved sale of RLY, an Ethereum blockchain-based asset and native token from Rally.
The project aims for more growth through new community rewards and an upcoming NFT platform. Additionally, Rally has expanded its leadership team with former Patreon Director Bremner Morris as CMO / CRO to help the Rally community with a go-to-market strategy and drive creator adoption. Michelle Vautier has joined the Rally project as VP Payments & Platform Partnerships, and former Twitter and BratTV manager Nick Millman has joined as VP Creator Partnerships.
Rally now includes over 100 creator coins, including Grammy 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 generate an average weekly transaction volume of $ 102K USD and $ 29K USD in RLY rewards per week.
“In a few short months, the Rally Network has made great strides to enable creators, artists, influencers and their fans to embrace crypto and break new ground for monetization and community building. The Rally network continues to expand under the leadership of innovative makers who integrate their maker coins into their communities to bring about thriving digital economies. Due to the successful acceptance of their coins, makers generate hundreds of thousands of dollars per month in transactions and rewards for community activities. All powered by a platform that charges no artist fees and is built in an eco-friendly way to support the minting of creator coins and NFTs. “
– Kevin Chou, Co-founder of Rally
Raised $ 57 million for Community Treasury
Through decentralized community government, the Rally community approved two separate fundraising events to fund the community’s treasury and bolster continued growth.
Last January, the Rally community approved a community treasury fundraiser 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 and April 3, with a maximum purchase threshold of USD $ 1,000 per participant. This distribution resulted in an additional $ 22 million USDC for the community treasury, with more than 40,000 new foreign users joining the $ RLY community after the sale.
Proceeds from this community-approved sale of RLY will flow into the Rally Community Treasury, which is managed by the community and spent through community-led governance proposals designed to enhance the Rally network. No company or centralized party controls or has access to these funds.
Upcoming Rally NFT platform
The Rally Network will soon unveil a one-stop shop where creators can launch their own social tokens and also create and sell NFTs through 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.
Advantages of the NFT platform include:
- Environmentally friendly alternative:
- Most of the existing NFTs today are struck on the energy-precious Ethereum blockchain; In layman’s terms, they are created (“beaten”) based on a process known as proof-of-work (PoW), which requires 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 maker’s overall economy
- NFTs are currently very transactional and not integrated into the overall fan experience. By integrating these NFTs into the overall maker economy and providing options for fan participation, Rally’s approach to NFTs will enable a more inclusive and fan-oriented NFT experience. For example, several early launches give fans the opportunity to earn an NFT.
Next month, Rally will launch a beta version for existing creators, with the full standalone project coming this summer. Launch Partner Creators will be announced at a later date.
Extensive Community Leadership Team
As mentioned above, the Rally project has further expanded its leadership team with 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) – Oversee all go-to-market initiatives. He is responsible for driving awareness and acceptance of Rally in the creators, fan and crypto communities. Previously, he led the development of Patreon’s global go-to-market organization.
- Michelle Vautier (VP, Payments & Platform Partnerships) – Encourages creator-led commerce, value creation and expansion of the Rally into the payment space to serve creators and their economies. Michelle has over 14 years of global payments experience and focuses on opening markets and solving tough problems. Most recently was the GM and VP of Payments at Appfolio Inc. Before that, she led Payments and Global Expansion at Patreon, Facebook, Mastercard and Netflix.
- Nick Millman (VP, Creator Partnerships) – Leads team focused on creator recruiting and expanding Rally into new and diverse creator industries and niches. Previously, Nick was COO and Co-Founder at Brat TV and Global Director of Content Partnerships at Twitter.
Original Rally backers include a16z, a16z crypto, Coinbase Ventures, Battery, Canaan, 1confirmation, Altos Ventures, SparkLabs, The House Fund, IDEO CoLab, Green Bay Ventures and #Hashed.