Social media platforms dominate a good chunk of our life. The world as a global village has been facilitated by the interconnectedness that social media provides. However, the space has been dominated by conglomerates and one name comes to mind – FaceBook. The hegemony of FaceBook appears to be unbreakable but the firm has been under a lot of scrutiny because of their misuse of users’ data. This has led to a paradigm shift towards other alternatives and the blockchain provides the needed alternative.
Blockchain-based social media platforms are on the rise. They provide an easy way for monetization and has a lot more pros than cons. In this guide, we will discuss one such platform – Rally.
What is Rally?
Rally is a blockchain-based protocol that is designed for improved and easier monetization of services provided by digital creators. The network is not limited to just social media influencers but is also for digital entrepreneurs, brands, celebrities and more. Rally’s platform empowers creators by giving them the reins of how and what they want to monetize. Creators can easily create their token community without any centralized firm or middleman interfering in their community. The greater freedom is an attractive proposition for creators who do not appreciate being monitored and regulated. Moreover, the elimination of intermediaries also ensures higher returns for creators and cheaper fees for users.
The Rally network also has a variety of other features that makes it popular. It has an automated liquidity with a Token Bonding Curve which makes the network’s supply liquidity independent of a decentralized exchange. It also has fiat support so users not well-versed in crypto can also access communities easily.
Future outlook
Rally’s platform has been gaining momentum as demand for decentralized platforms increased amidst the surging crypto market. The team has also pledged towards the development of the network. Recently, the network announced a fund of $12 million for external developers to improve the functionalities of the network. Rally has been giving similar grants in the past which has resulted in some successful projects on the blockchain.
The future outlook is bullish because of the ambitious plans of the team as well as the strong fundamentals of the network. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $0.978 in a year’s time while the five-year projection places it at $2.619. Digital Coin Price projects a price of $1.93 by 2026.
