Cryptocurrency booms bring renewed interest in the sector. High value for legacy chains – Bitcoin, Ethereum and others – inspires investor confidence and allows the launch of new projects. Late 2017 and early 2018 brought Ripple and Tron to the forefront. Next-gen video streaming service, Theta appears poised to take advantage of the current high valuation. Launched in 2020, Theta offers streaming services for gamers – as well as traditional media.
One of their greatest advantages lay in their timeliness. Both streaming and video hosting were once the sole purview of Twitch and YouTube. Yet, both sites increasingly suffer from perceived draconian rules. A decentralized provider with less stringent rulesets could find success as an alternative.
Theta’s Decentralized Exchange
Venturing into the realm of decentralized financing, Theta’s ThetaSwap DEX provides users with an easy method of exchanging TNT-20 standard tokens. Ethereum’s ERC-20 became the gold standard of the ICO boom – and Theta envisions their own standard gaining ground alongside their streaming business. Allowing streamers to create their own custom tokens could create a new, dynamic economy within the Theta ecosystem.
Such success is dependent on ease of use, which is the main goal of most swap-based decentralized exchanges. Following in Uniswap’s footsteps, ThetaSwap allows for the quick exchanging of tokens without clunky, tech-heavy interfaces. This simplicity is critical for engaging with new users and less tech-savvy investors.
Theta.tv Partners with Lionsgate
In a major victory, Theta and Lionsgate announced a joint venture to stream the latter’s catalog. Envisioned as a community ‘movie night’, it would give the opportunity for Theta users to engage with one another while watching. Further, it opens new avenues for monetization using NFT – non-fungible tokens. Within their streaming ecosystem, Theta leverages non-fungible tokens as a means of creating collectibles. By partnering with major media companies, these NFTs could represent any number of unique assets within the space.
Theta is no stranger to innovative media partnerships. They’ve previously worked with SamsungVR to bring unique eSports content to their streaming service. Users participating in the SamsungVR Theta channel can stream VR to other viewers, allowing for a complete 360 degree view of their game.
Article By: Adam Stone