The global adoption of digital assets continues to rise, as the crypto space has become a home for investors. One of the reasons behind this surge is the uprising of Blockchain projects, providing bespoke services to delight crypto users. However, these Blockchain projects are very unique in their offerings, hence why their demand is high. Rally (RLY) is one of the Blockchain projects gaining popularity in the crypto space, with its token not left behind. The growing virtual economy platform is becoming a space for creators and fans to connect deeply. In this article, we will be looking into the potential of Rally crypto in 2022.
What Is Rally Crypto?
Rally is a platform for creators and their communities to build independently managed digital economies. It is a project of the RLY network, which powers the vibrant and independent economies of blockchain using Ethereum. According to its developers, the platform thrives by the power and strength of its communities: consisting of both creators and users. Rally currently empowers content creators with the ability to engage their fans and also get rewards. It is also worth noting that while Rally allows creators to earn, their fans are also eligible to earn rewards. One of the unique features and pride is that it promotes a strong relationship between creators and their fans. Artists, musicians, athletes, gamers, and celebrities currently own digital economies on Rally, engaging many fans.
How Does Rally Work?
Rally is a unique project that offers creators and their fans a platform to connect like never before. Creators can build their digital economies and launch their tokens to engage their fans. Like every project’s token, Rally can complete transactions, get more access and develop the digital economy. Creating these tokens is straightforward and does not require any technical knowledge from content creators. After token creation, creators will witness an increase in their fan engagement through various marketing strategies like giveaways.
Rewarding users or fans have proven vital in getting more support and engagement. After creators get enough engagement and build their fanbase, their relationship will move to the next stage. Creators can now offer their fans access to private groups and exclusives for fees pegged to the community’s currency. Fans who trade and exchange the community tokens also get rewards in form of goodies. However, much of the work is in the hands of creators, who build their communities from scratch.
Why Is Rally Unique?
Rally offers everyone, including creators and users, access to build and earn while at it. However, one of the unique features of Rally is that it is a free platform for all to play. Creators do not need to pay fees to build their digital economy, native tokens, and fan community. Alternatively, their fans also do not pay any money to Rally to become a part of or engage any digital economy. Apart from being free, Rally is easy to use and operate on, and crypto novices thrive.
Rally is a community that is democratic, as the people make decisions for the people. The technology behind the digital economy also ensures that it can interact and integrate with external platforms. Fans can buy their creator token with a bank card, with Rally not charging any fees on transactions or gas. However, according to Rally developers, the platform generates funds via vesting and lockups of some of its tokens.
What Is $RLY Token?
RLY is an ERC-20 Ethereum token that powers the Rally network. It is the governance token for the Rally Network, and holders can vote on proposals and policies on the network. Since it is an ERC-20 token, $RLY can be bridged from the Ethereum mainnet to the Rally network. The utility token has a maximum supply of 15 billion coins and a circulating supply of 2,509,357,533 coins. The token holders can participate in the project’s governance and earn rewards on staking into a liquidity pool.
About 15.3 % of the total distribution of RLY is reserved for seed investors, with the project team allocated 14.25%. However, due to the community-themed nature of Rally, 50% of the token distribution is reserved for its community. Liquidity miners, advisors, and future collaborators are eligible for 3.3% of the total distribution of the token. The secure nature of Rally allows users to bridge only 50,000 RLY and a global network maximum of 1,000,000 RLY daily. RLY is currently listed on KuCoin, Coinbase Exchange, and Gate.io.
Is $RLY A Good Investment?
Despite being launched in late 2020, RLY’ is currently ranked 97th on CoinMarketCap, and promises a lot for the future. The token’s market capitalization has grown by more than $750 million, and it’s currently around $4 billion. The All-time high (ATH) price of $1.4, achieved last April, looks far from the current price of $0.2556. However, its recent rally, which had seen 24hour trading volume go as high as $6,116,654, shows the token is improving.
Crypto analysts believe that 2022 will be great for Rally and $RLY, as both are expected to be massively successful. This year, Rally is expected to build on SOLANA after receiving huge funds from investing firm- Andreessen Horowitz. These new projects are expected to improve the fortunes of $RLY, and investors are expected to reap huge rewards. However, crypto analytics- Gov Capital’s believe that social tokens are struggling to gain strength in the crypto market.
Fortunately, they feel like $RLY will lead a new interest revolution in social tokens. The crypto analytics website believes that $RLY should be nearing the $1 mark by December 2022. However, $RLY looks like a good investment, and investors can commit spare funds to the project. In summary, 2022 will be a great year for Rally and $RLY. Whether that happens or not, time will tell.
Conclusion
Rally (RLY) is a social token protocol that allows creators to launch tokens and build a digital economy around their works. Creators build their digital platforms and create their tokens for their fans, all at no cost. The governance and utility token of the project is $RLY, and its fortunes might rise in 2022.
