Rally Platform Disables NFT-Enabled Sidechain

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Yesterday evening, January 31st, platformsocial token Rally has disabled its NFT-enabled sidechain. Since there are no bridges on the sidechain, all user collection tokens were lost.

The platform allows content creatorscreate their own tokens that are used within their microeconomy. Such tokens can be used to gain exclusive access to content, or to purchase additional items, including NFTs. And the more popular a content creator became, the more valuable their token became. However, all NFTs issued on the Rally sidechain were lost. The platform team cited a lack of resources as the reason for this decision:

“2022 was a difficult year not only for ourplatform, but also for the entire crypto industry. Our team has worked tirelessly to continue the path forward, but the challenges and macroeconomic headwinds are too great to overcome in the current environment,” Rally said in a statement.

The developers promised to “develop the Web3 experience” on the project’s main network. However, it is unclear whether there are plans to add support for NFTs in the future.

It was previously reported that the Italian luxuryThe Prada brand is preparing to release its ninth collection of non-fungible tokens. The new collection is called Interferenza Ottica Art Print by Enzo Ragazzini 1975.