Even if you don’t pay any attention to digital currencies, it’s almost impossible not to have heard of crypto. Digital money currencies have become so popular that their value has been rising intensely. So, how cool would it be to be able to create a new cryptocurrency of your own? There is a way for creators to customize, trade, and sell their own digital coins.
Are you interested in your community’s growth and your own online cryptocurrency creation? Or do you just want to learn more about the world of digital currencies? Then, you are in the right place. Read this blog to find the answers to your questions.
What Is Crypto?
Crypto is short for cryptocurrency and its popularity has increased massively over the years. But, what is crypto? It is a digital asset designed as a medium of exchange where coin ownership is recorded and secured. The currency uses cryptography to regulate how they are created, traded, and how secured the tokens are.
The first cryptocurrency was Bitcoin, which launched back in 2009. The value of Bitcoin had been rising until 2017 when the currency’s value decreased by more than 60%. It took three years for Bitcoin to get back to its high value and it has doubled since then. As of 2021, the bigger companies have been buying Bitcoin because of its increasing value. Ever since the creation of Bitcoin, cryptocurrencies have been gradually improving and are impossible to not acknowledge.
Cryptocurrency is convenient as it solves certain problems most normal currencies have. Cryptocurrencies are not tied to the country they were created in, they provide universal value, and are traded immediately to others wherever they are. This saves time and money by removing the middlemen, such as banks.
Creating Your Own New Cryptocurrency
There are many different crypto platforms. Some platforms are only for trading the currency and others are for making your own cryptocurrency. One of these platforms is Rally, which is a crypto platform for creators. These creators vary from streamers, artists, musicians, gamers, celebrities, athletes, or content creators. A creator can be content or website-based which means they can be a creator for social media or a creator for websites. Creators can also reward and engage with their fans through the platform.
Fans buy the customized creator coins they like or earn the coins through engagement. The coins are a branded cryptocurrency that is unique to the creator. These coins are beneficial to creators as it gives them power over their own digital economy. Therefore, it allows them to connect with their fans however they want.
What Are The Benefits Of Rally
The customized coins unlock an online economy surrounding the creator’s community by using new methods of platform monetization. This creates engagement within the community because fans will spend the creator’s unique coins to get exclusive access to things such as content, events, and merchandise. When the creator’s coin economy gets more engagement than usual, creators and their communities will earn weekly network community rewards. The coins can be traded in for $RLY tokens by the creator. $RLY tokens belong to the Rally platform and can unlock benefits for the communities. The creator can trade these tokens to redeem rewards or to be set into US Dollars.
The customized coins create multiple benefits for the creator. Firstly, it captures value. The creator and their communities own any value made in a creator’s coin economy, and it’s independent of big tech platforms. Secondly, creators have full control over their coins and content. They don’t have to be afraid of the usual demonetization and censorship that commonly happens on content social media platforms. Lastly, Rally creates transparency. Each cryptocurrency has a blockchain. A blockchain is a decentralized and secure database technology. The chains of data enter on a digital ledger like linked blocks. Blockchains keep cryptocurrencies safe and make transactions with anyone anywhere, easier.
In order to become a creator on Rally, you have to fill out a form, which applies you for the creation of your own creator coin. The form will have questions regarding your content, platform, community benefits, and relevant content links. The platform only accepts a limited number of creators each month. Rally states that the platform is looking for “creators with engaged communities, who produce consistent content, and have strong ideas about integrating their coin into their communities”.
If this sounds like you and your community, and you would like to engage with them more, apply now and customize your own unique coin!
Cryptocurrencies’ popularity has increased so much in the last decade, that even the biggest global companies try to buy them. Rally gives creators the opportunity to create their own online coins to help them interact and grow their fan community. Even though being able to make your own cryptocurrency sounds amazing, only you can decide if creating an account on Rally is something worthwhile to do for you as a creator and for your community.
Hopefully, this blog will be able to help you in making this decision and inform you more about the digital currency world. It’s the perfect place to start your crypto journey!