Theta Network is up over 22% today, making it the top Metaverse crypto coin gaining the most price today. The recent price hike comes amid an upcoming NFT drop for the iconic show The Price Is Right, along with a recent announcement that Replay is launched the industry’s first video licensing and tracking protocol. Let’s look at Theta Network and its token THETA and see what the future holds for the platform.
What Is Theta Network (THETA)?
Launching in 2018, THETA is one of the leading platforms for licensed and authenticated NFT drops, featuring exclusive partnerships with iconic artists like Katy Perry and more.
THETA is more than an NFT marketplace. It also features a streaming platform that enables users to earn TFUEL tokens for watching content and participating in live streams on the platform.
In addition, THETA features its TDROP token, enabling governance and providing further 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 highest valued Metaverse crypto platforms, with a market cap of over $4.1 billion at writing.
Why Is THETA Price Rising?
Two recent significant announcements contributed to THETA’s recent price hike. The first is the upcoming NFT drop of an iconic show, The Price Is Right, celebrating its 50th season.
Celebrating its 50th season, @PriceIsRight is launching its first ever NFTs in partnership with Theta Labs! Featuring some of the most well-know #PriceIsRight games including Plinko, Cliff Hangers and Punch-A-Bunch! @Benzinga https://t.co/N4sLDxMnC3
— Fremantle US (@FremantleUS) February 8, 2022
The Price Is Right is one of the longest-running game shows on television that airs on CBS. Such a popular show teaming up with THETA to release their first set on NFTs is bound to bring attention to the platform and the crypto industry as a whole.
The following significant news contributing to today’s bullish momentum is Replay’s announcement of a Web3 content payment and tracking protocol launch. Replay integrated Theta’s decentralized video infrastructure to introduce the industry’s first blockchain-powered video tracking and payments platform.
Replay will enable creators to further benefit from their work by wrapping any digital-ready streams with its proprietary tech to track video assets on the blockchain.
According to Replay’s announcement:
“Powered by RPLAY (Replay Token), a TNT-20 token built on Theta blockchain for a decentralized content distribution ecosystem, Replay rewards consumers while entertaining them, providing creators and content owners with liquidity and real-time payments. “
RPLAY is one of the first tokens launched using Theta’s TNT-20 token standard, and we can anticipate many more projects to utilize their standard.
As more projects launch on Theta, we can anticipate THETA’s valuation to continue growing and its ecosystem to continue expanding.
THETA performed exceptionally well this week, rising over 48% in price. With a market cap of $4.1 billion and a 24-hour trading volume of $1.2 billion, THETA is a must-watch in 2022.
You can purchase THETA on Binance, KuCoin, Crypto.com, and more.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coin.
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