- In collaboration with World Poker Tour, the Theta project is set to launch a first real-time NFT marketplace early next month.
- Ahead of this, late on Sunday, the project opened for registration and pre-funding – its price has since reacted, gaining as much as 20%.
Earlier in the year, Theta Network and World poker Tour (WTP) announced a partnership to launch the world’s first real-time NFT marketplace. Each year, the WTP is said to attract up to 140 million viewers across the world. With Season XVIII of the World Poker Tour premiering on Sunday, April 18, viewers were able to participate in a live auction for exclusive WPT packs during in-show advertisement and promotional segments.
The event has generated a lot of hype for WTP fans who buy the NFTs. For the crypto community as the first in the industry, it draws great attention in line with mass adoption. Some analysts have argued that NFTs will lure new investors and users into the wider cryptocurrency industry. This event could attract new investors into the crypto world.
— Theta Network (@Theta_Network) April 23, 2021
On Sunday, Theta opened registration and pre-funding of accounts to participate in the events. Users are able to register and fund their accounts with TFUEL, which works as the ‘gas’ fees on the network.
Theta Mainnet 3.0
Theta is a decentralized video streaming platform. By employing blockchain, the platform hopes to interrupt centralized platforms such as YouTube. Theta boasts of a new innovative approach that fairly compensates content creators and rewards viewers for sharing excess bandwidth. Additionally, it promotes smooth and high-quality streams that do not strain viewers’ data.
More recently, the project has been pushing to get into the NFT market. With the launch of its Mainnet 3.0 expected this June, the upgrade is set to lay the foundation for NFTs. Its June release comes after a reschedule from the initial release date on 21st April. On top of stating that they were taking a cautious approach to the upgrade, the team further added,
Key partnership opportunities in the NFT space have required us to devote resources to building out the upcoming Theta NFT marketplace in a broader approach and incorporating some of these foundational elements into Mainnet 3.0 core.
The platform expects to be an Ethereum rival, offering users 1,000 times more speed and significantly low minting and transactions fees thanks to its use of the proof-of-stake protocol. On top of helping it accelerate its ambition in the NFT market, it will ensure the network can scale to 100K+ Elite Edge Nodes.
In a recent update, the project celebrated a key milestone after its blockchain surpassed 1.5 million on-chain wallets and more than 565 million TFUEL staked to the testnet Elite Edge Node.
Recently, Theta (THETA) has lost some of its glory, slipping from a top 10 ranked coin to a top 20. But in the last 24 hours, it has impressed with a 20% price surge. At the time of press, it sits 16th with a market cap of just under $11 billion. It will be interesting to see how prices react to the aforementioned events.