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Rally (RLY) Invests $12 Million In Developers

By Harry - Crypto Consultant - 22-10-2022

Rally (RLY) is a platform designed for creators to build their own digital economies. The Rally Network is a blockchain-based service that allows influencers to monetise their relationships with their fanbases. Lately, the Rally Network's ecosystem has been doing well and growing exceedingly popular due to its services and its native non fungible tokens (NFTs). Reportedly, Rally has set aside around $12 million to invest in developers to improve the company's ecosystem further. The company hopes to upgrade the platform to expand and create new projects to uplevel its customer experience.

On Friday, Rally announced that its new grants program would reportedly be done using RLY tokens. RLY is the Rally Network's native crypto market investment which powers its ecosystem. As of writing, the price to buy RLY tokens is $0.59 with a 24-hour trading volume of $8.11 million. According to Rally, there would be a developer, chosen through a voting event in the community, who will have access and control over $5 million worth of RLY tokens. The selected developer will be able to choose what bounties and rewards get distributed within the program. Rally has already awarded MintGate, David Young, and Bonfire grant rewards. 

In an interview, the vice president of Rally, Stephanie Pereira, explained that the company is determined to create benefits, and creators need "the most right now." Pereira stated that the first three developers that were awarded have already added a lot of value, such as developing an airdrop protocol and building custom widgets.

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