‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against GoogleRead Now

A screen displays a NFT, or non-fungible token, work of art in New York on April 10. Photo: AP

Chasing the NFT ‘Gold Rush’; YouTube Shorts Picks Up Views

Photo: A screen displays a NFT, or non-fungible token, work of art in New York on April 10. Photo: AP

The internet craze for non-fungible tokens (NFTs) has piqued the interest of creators, who are experimenting with selling their own NFTs, the one-of-a-kind digital collectibles that range from Jack Dorsey’s first tweet to the photo behind the Disaster Girl meme. A service called Rally.io, which allows people to launch their own digital currency, will soon unveil a way for creators to sell NFTs to their fans. 

“Creators are chasing that gold rush,” said Goldie Chan, an influencer and social media strategist. 

On Wednesday, Rally also announced that it raised $57 million through the sale of $RLY, a token on the ethereum network (a blockchain-based platform) to investors including individuals. 

What’s Next: The San Francisco-based crypto platform, which previously raised venture funding from Coinbase Ventures, Andreessen Horowitz and Battery Ventures, said its top five creators are transacting $102,000 on average every week, in what’s known as creator coins or social tokens. Rally is now working on an integration with Shopify so merchants using that e-commerce software can accept creator coins, said Bremner Morris, who runs Rally’s revenue and marketing.

The Takeaway: Social media celebrities are hungry for new ways to make money. Using personalized digital currencies to sell buzzy NFTs as well as other services, such as access to private chats on the Discord app or exclusive merchandise, could fit the bill. Creator coins also extend their personal branding. The cynic’s take? It could be easier than ever to track the decline in a creator’s financial value.

One more thing: $RLY isn’t a currency in the way bitcoin is. Investors in $RLY (currently valued at $0.81) have voting rights, like approving a Rally marketing campaign, and can convert $RLY into creator coins.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
Art by Clark Miller.
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google. Both companies were selling cheap speakers capable of multiroom audio playback, a feature Sonos had pioneered on its devices more than a decade earlier. Sonos...
Latest Briefs
 
Google Invests $300M in OpenAI Rival Anthropic
Bankman-Fried’s Company Used to Buy Robinhood Shares Files for Bankruptcy
Musk Found Not Liable in ‘Funding Secured’ Tesla Trial 
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Art by Clark Miller.
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google.
Silicon Valley's Latest Invention: The Supplement Stack
The Weekend culture ai
Silicon Valley's Latest Invention: The Supplement Stack
Greetings, and welcome to your Weekend! Today’s newsletter really ought to come with a surgeon general’s warning: “Consuming dozens of unregulated health supplements may not actually be awesome for your health.” It’s hard not to shake your head at the sheer number of nascent and untested substances that some of our tech-industry peers are swallowing.
A selection of AI-generated selfies (good ones on the left, duds on the right) of the author Zara Stone.
Market Research culture ai
Know Thy Selfie: A Journey Into the Uncanny Valley of AI-Generated Avatars
At 7 a.m. on August 22, 2022, Yaron Inger woke up to find his business irrevocably changed. The co-founder and chief technology officer of Lightricks , which develops Facetune and other popular media-editing apps, scrolled through his newsfeed, his eyes flicking from one image to another.
Art by Mike Sullivan.
Exclusive crypto
Genesis Creditors Could Miss Out on Recent Crypto Rally
Crypto prices have risen since parts of crypto lender Genesis filed for chapter 11 bankruptcy last month, lifting the value of customers’ crypto assets stuck in Genesis accounts.
Art by Clark Miller.
The Big Read culture
‘I’m Like a Guinea Pig—I’ll Take Anything’: An Explosion of Supplements Hits Tech’s Kitchen Counters
When Courtney Reum wakes up in his Los Angeles home, it’s time to freeze, shake and dangle upside down.
Amazon executive chairman Jeff Bezos. Art by Mike Sullivan
Exclusive e-commerce amazon
How Amazon’s Bricks-and-Mortar Dreams Hit a Wall
If Amazon’s ambitious vision for becoming a power in bricks-and-mortar retail had gone to plan, last month would have been a big milestone for the company.