Coinlist Pro How Rally Simplifies Crypto To Empower Creators And Their Communities

How Rally Simplifies Crypto To Empower Creators And Their Communities

Creators have built a massive multi-billion dollar industry and made it possible for nearly anyone in the world to make a living as full-time digital creators — whether it’s being a Twitch streamer, a YouTuber, a TikToker, or an influencer on any social platform.

The formula is roughly as follows:
- Creators make unique content that attracts fans.
- Users view the content, become fans of the creator, and share it with their friends.
- As their fan base grows, creators gain influence in the form of social clout and a distribution base in the form of total followers.
- Finally, creators monetize their influence and distribution through donations, sponsorships, or merchandise. People who successfully build communities and fan bases are rewarded as they can monetize their communities to support their creative careers. This has aided a bloom in the world of creator economies.

With the introduction of blockchain and Web 3.0, early innovators began experimenting with creator economies in the form of cryptocurrencies. This led to the creation of “social tokens” which are tokens backed by the reputation of a person, community, or brand. Creators launch social tokens representing themselves, and as more fans buy into the token, the token increases in value, thus rewarding both the creator and the fan. These tokens are built on the premise that communities will be more valuable tomorrow than today and the principle of “ownership economies.” In short, fans have a stake and can contribute to their favorite creators’ social communities.

In the article that follows, we take a deeper look at Rally, an open platform built on Ethereum that empowers creators, celebrities, and brands to launch their own social tokens, also known as Creator Coins.

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