Metexit! Facebook, now Meta, has seen an executive exodus with an executive at its cryptocurrency division leaving the company. Rob Collier, former head of consumer product legal counsel for Facebook’s Novi wallet, joins social token platform Rally.
The expansion of Rally’s executive team can reflect the rapid development and determined ambition of the company. Indeed, Collier is not the first new joiner of the company lately. Bremner Morris from Patreon has also joined Rally as chief executive officer.
Collier managed a product counsel team on Novi wallet. As Meta’s cryptocurrency wallet, Novi enables users to send and receive money through the social media giant’s messaging app, WhatsApp. Novi is part of Meta’s digital financial service plan, which includes digital currency Diem.
Moreover, David Marcus, who oversees Novi and Diem, said last month he will be leaving Meta at the end of the year.
Social Tokens : The Next Theme After Metaverse?
Collier will commence a new project at Rally. He will help artists and creators launch blockchain-based tokens that are linked to the social capital of the person, allowing them to engage with their fan base.
The concept of social tokens comes from !llmind, who is a Grammy-winning producer. He has built a “BLAP” (Beats, Love, Alcohol, Parties) community back in 2007 and it turns out to be a cornerstone for the success of Rally.io, a social tokens platform that can mint the $BLAP coin.
The transformative impacts of the platform include allowing music producers and athletes to monetize themselves with social tokens. The content creators will no longer have to share their revenue with the third party, such as instagram to ensure their efforts would be adequately compensated.
“Social tokens put the power in the hands of creators,” said Bremner Morris, the CEO of Rally. Content creators can use the social tokens to build their fan community and reward themselves.
Market expects social tokens to be the next theme of the crypto space after NFT and metaverse.