Rally, a blockchain platform , recently announced that it was launching a native cryptocurrency for the platform called Creator Coin. The coin is designed to help content creators, influencers, and streamers run their own virtual economies. Creator Coin is designed to provide a new way for content creators to make real money from their huge following.
How Creator Coin Will Work
The Creator Coin will allow influencers to come up with a customized coin that they can use to build engagement and reward their fans. Kevin Chou, the Rally CEO, recently said that the platform would be targeted at a diverse group of people and sectors that include YouTubers, cosplayers, esports players, influencers, modders, live streamers, and many others.
A good example is an influencer who makes a Creator Coins and gives it to fans if they watch videos for a given period. Fans can then use custom-branded coins to buy items online such as in-game purchases. The best part about it is that viewers would not need to set up a crypto wallet or create a crypto account. Rally has already begun alpha testing the coin and users of the Taki influencer platform can fill out a form to try it.
Content creators can also earn in Creator Coins. For instance, a streamer can accept Creator Coins in exchange for posting a video offering advice on how to play a certain game. The Creator Coin is based on the blockchain and the decentralized ledger. However, users will not need any technical knowledge to use it.
Benefits for Content Creators
According to the Rally CEO, if the coin succeeds, users can finally break free from the constantly evolving value schemes used by large content platforms. Currently, these platforms keep the lion’s share of the proceeds generated by a creator’s content.
The advertiser/partner programs of a content platform will not tie down creators and limit their creativity. Additionally, the content creator and their fans will own any value that is generated within a Creator Coin economy. It means that they will not be beholden to any major big tech platform.
If it succeeds, the Creator Coin could help content creators get over the constant fear and anxiety of sudden deplaforming, censorship, shadow banning, and demonetization. Additionally, by using the blockchain, it will help to provide transparency and show coin ownership in the community, scarcity control, and transaction verification.