Theta Network Now Ranks Under Top 30 on DefiLlama
- Blockchain-powered ThetaDrop is an NFT auction and drop platform.
- Theta’s distributed network has more than 8,000 community-run Elite Edge Nodes.
Theta’s ecosystem continues to grow, drawing additional video content distributors, makers, and consumers with the announcement of new collaborations. Theta utilizes a next-generation end-to-end infrastructure for decentralized streaming to enable media and entertainment organizations to improve video distribution at reduced costs while increasing their reach. Instead of viewing information as a passive activity, Theta encourages users to participate in the network by watching videos actively.
Blockchain-powered ThetaDrop is an NFT auction and drop platform that features real-time, live broadcasting. In comparison to Ethereum, producing and transacting with NFTs on the Theta Network costs just pennies and is 100 times quicker because of the network’s proof-of-stake methodology.
Theta Network CEO Mitch Liu stated:
“Our conversations with strategic partners like Jukin Media, Fuse Media, Entain group and many more all revolve around adopting the Theta core blockchain to power their initiatives around video, NFTs, gaming and Metaverse. In many cases, the initial pilot or launch is just the tip of the iceberg, there are so many growth opportunities in the media and entertainment space to leverage blockchain.”
Right on Top of Bitcoin
In addition, DefiLlama has recently introduced ThetaCash (TBILL) to the Theta TVL, which has pushed it into the top 30 and put it right on top of Bitcoin. Theta networks co-founder and CTO Jieyi Long tweeted the advancement.
DefiLlama just added @OfficialTBILL to the Theta TVL, which bumped up our rank to top 30, sitting just on top of Bitcoin pic.twitter.com/UGOD0ANC6w
— Jieyi Long | Theta Network (@jieyilong) February 3, 2022
Theta’s distributed network of more than 8,000 community-run Elite Edge Nodes will soon offer decentralized NFT storage, according to the 2022 roadmap. Theta Network, Ethereum, and other chains will soon be connected via a cross-chain bridge, making it easier to move NFT between them. Theta teamed up with Jukin Media last month to integrate its decentralized technology into the streaming platform of the entertainment firm.
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