Rally CEO explains why he wants millions of people to have their own 'creator coins'
Show notes
Imagine a world with not just a few thousand cryptocurrencies, but billions of them. That's Rally CEO Kevin Chou’s vision. The founder of mobile gaming heavyweight Kabam joined The Scoop's Frank Chaparro to talk about the development of creator coins, which are blockchain-based tokens that are tied to the social capital of a person. “We thought about… if you have instead of just thousands of tokens in the world, but you have millions of tokens, tens of millions of tokens, a billion tokens at some future point in time, how do you create a world where people can easily exchange that value?” To be sure, it’s early days for Rally. The firm has onboarded approximately 160 creators, and that number is growing, with a community that spans athletics, art, and music. Rally is currently working with musicians like Portugal. The Man, as well as streamers, gamers, celebrities, athletes, and others to create their own fungible tokens via their network. According to Rally, the decentralized $RLY Community has raised $108 million to date for its community treasury. The project is offering a platform for creators to issue their own 'creator coins' that allow them to engage directly with fans and offer bespoke incentives — thereby giving them the power to “own their economic destiny," as Chou puts it. But the vision is much broader, according to Chou, who said in the interview: “How do we eventually think about a world where more and more people choose to create their online identity, reputation and financial wherewithal all on a blockchain. And that's kind of the world that we're trying to solve here on Rally.” Chou also discusses: Rally's plan to create network rewards for creators How creators are earning significant income already with Rally How Rally aims to work with regulatory commissions across the globe Episode 40 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Kevin Chou, CEO of Rally. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Eventus, Kraken, and Exodus Eventus is the leading global provider of multi-asset class trade surveillance, transaction monitoring and market risk solutions. Eventus offers a powerful, award-winning trade surveillance platform that is easy to deploy, customize and operate. Eventus is proven in the most complex, high-volume and real-time environments and supports many of the industry’s leading crypto exchanges including Coinbase, Gemini, ErisX and OSL. The company’s rapidly growing client base relies on Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Exodus Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface. Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control. Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.
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