• RALLY Receives Grant From Algorand Foundation

  • The latest recipient of the grants offered by the Algorand Foundation is the RALLY which has got the financial support from the foundation in order to develop the NFT marketplace for endurance athletes. This particular attempt will result in an entirely new ecosystem through which the conversion of athletes’ data will bring value to the community of endurance athletes and their audiences. Given the fact that this particular segment has yet been explored, the conversion of the athletes’ data, their training logs, competitions, and other hairy adventures will open up new opportunities for the segment.

    It is a very well-accepted fact that the benefits related to endurance exercises have long been undervalued, and despite their overall significance for the body, health, and mind, this form of exercise has been remained largely conspicuous by its absence in sports and healthcare arenas. RALLY is going to change this and help to rectify the situation with the help of blockchain technology.

    By adding a virtual layer in the physical space where athletes do their training, this unique move-to-earn model will definitely become handy for the athletes. All athletes need to do is just sign up and then link their IoT devices to make progress and roam on the map of RALLY. During this roaming process, players can have their chance to earn the RALLYcoin besides discovering some items with rare features. The unique prospect of the game is that it allows the player to set the challenges for other users, which makes it a more valuable and fun-oriented exercise compared to the other games.

    The grant provided by the Algorand will be used to conceive new ways in which blockchain technology can be utilized to facilitate various community interactions between the stakeholders of the society. To date, there is a need for third-party intermediaries to develop support for the creators and the users in the communities, which limits the attractiveness and financial feasibility of these models. RALLY, on the other hand, will consolidate the whole process of monetization and creativity, thereby providing more power in the hands of users and creators.

    The primary reason behind this coming together is the synergy that RALLY and Algorand have found in their operational and functional procedures.

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