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Social Token Platform Rally Announces Shutdown of Sidechain

In its decision to “begin to sunset” the platform’s sidechain after January 31, Rally noted a “difficult year” for the crypto sector.

Nonfungible tokens (NFTs) on Rally’s sidechain will no longer be available, according to the social token platform.

Users reported on social media that Rally stated that the platform’s sidechain will “begin to sunset” after January 31, leaving users unable to obtain NFTs after the site completely goes down. The site’s creators did not explicitly state that they will provide another route forward in the future, but they did hint at creating “leaner web3 experiences and/or goods on mainnet.”

“2022 was a difficult year not only for the platform, but also for the whole crypto sector,” Rally said. “The team has worked tirelessly to find a way ahead, but the hurdles and macro headwinds are too great to overcome in the current context.”

Rally made it possible for producers and artists to start their own social token initiatives and autonomous communities directly on the platform. The “creator coins” enabled users to monetize themselves, generating additional cash.

 

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