Theta Network is up over 22% today, making it the top most award winning Metaverse cryptocurrency coin today. The recent price hike comes amid an upcoming NFT drop for iconic show The Price Is Right, as well as a recent announcement that Replay is launching the industry’s first video licensing and tracking protocol. Let’s take a look at Theta Network and its THETA token and see what the future holds for the platform.
What is Theta Network (THETA)?
Launched in 2018, THETA is one of the leading licensed and authenticated NFT drop platforms, with exclusive partnerships with iconic artists like Katy Perry and more.
THETA is more than an NFT marketplace. It also offers a streaming platform that allows users to earn TFUEL tokens for watching content and participating in live streams on the platform.
Additionally, THETA offers its TDROP token, enabling governance and providing additional utility to the platform. THETA is also working on expanding its ecosystem with its TNT-20 token standard comparable to the popular ERC-20 and BEP-20 standards.
Theta Network is one of the most popular Metaverse crypto platforms, with a market capitalization of over $4.1 billion at the time of writing.
Why is the price of THETA increasing?
Two recent major announcements have contributed to THETA’s recent price rise. The first is the upcoming NFT release of an iconic show, The Price Is Right, celebrating its 50th season.
Celebrating its 50th season, @PriceIsRight launches its very first NFTs in partnership with Theta Labs! With some of the best known #PriceIsRight games like Plinko, Cliff Hangers and Punch-A-Bunch! @Benzinga https://t.co/N4sLDxMnC3
— Fremantle United States (@FremantleUS) February 8, 2022
The Price Is Right is one of the longest running game shows on CBS. Such a popular show teaming up with THETA to release its first set on NFTs is sure to bring attention to the platform and the crypto industry as a whole.
The next big news contributing to today’s bullish momentum is Replay’s announcement of the launch of a Web3 content tracking and payment protocol. Replay has integrated Theta’s decentralized video infrastructure to introduce the industry’s first blockchain-powered video tracking and payment platform.
Replay will allow creators to benefit more from their work by wrapping all digital-ready streams with its proprietary technology to track video assets on the blockchain.
According to Replay announcement:
“Powered by RPLAY (Replay Token), a TNT-20 token built on the Theta blockchain for a decentralized content distribution ecosystem, Replay rewards consumers while entertaining them, providing content creators and owners with cash and payouts. in real time. “
RPLAY is one of the first tokens launched using Theta’s TNT-20 token standard, and we can expect many more projects to use their standard.
As new projects are launched on Theta, we can anticipate that the valuation of THETA will continue to grow and its ecosystem will continue to develop.
THETA performed exceptionally well this week, with a price increase of over 48%. With a market capitalization of $4.1 billion and a 24-hour trading volume of $1.2 billion, THETA is a must watch in 2022.
You can buy THETA on Binance, KuCoin, Crypto.com, and more.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse cryptocurrency.
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