Theta Labs To Help Sony Launch 3D NFTs

May 7, 2022 2:32 pm Comments

Japanese conglomerate Sony Electronics is also getting into the blockchain and NFT space recently using Sony’s new Spatial Reality Display.

To make this possible, Sony has announced that they will be partnering with Theta Labs, which focuses on blockchain video delivery, to launch 3D NFTs which can be viewed in spatial reality.

Essentially, this kind of display provides the ability to view a 3D experience which the company believes will be a huge opportunity when it comes to the metaverse and NFT industries.

Currently, the NFT space is dominated by 2D images but Theta Network CEO has stated that the next step of the evolution will undoubtedly be 3D.

CoinTelegraph reports:

Liu also noted that at the moment, the NFT industry is comprised of 2D images and videos. However, the Theta Labs CEO thinks that the “metaverse is already 3D.”

This means that there is a need to enable users to “visualize and showcase their NFTs in a way that has a physical presence.”

According to Nick Colsey, a Sony Electronics executive, the NFT release is a way to show the capabilities of Sony’s new Spatial Reality Display technology to NFT and metaverse enthusiasts. He explained that:

“Consumers can now enjoy a next-generation 3D experience without the need for 3D eyewear. Theta’s NFTs are just the latest way we can show our rapid adoption of metaverse-friendly technology.”

Sony and Theta will be releasing an NFT called The Tiki Guy which is a 3D Tiki Mask. Only 10 of these NFTs will be minted. While the NFT drop is specifically made for 3D viewing, 2D versions will also be made available.

Industry reports show that the NFT space is still rapidly growing as spending for NFTs within the year of 2022 alone has already surpassed total spending for the entire year of 2021.

To show numbers that represent how fast NFTs are growing, around $40 billion was linked to NFT transactions last year.

For the year of 2022 alone now, we have already reached over $37 billion and it is not even June yet.

If the growth continues to increase exponentially, Theta Labs is in an excellent position to be the blockchain of choice when it comes to video delivery for these 3D metaverse experiences.

More adoption to the network would naturally increase the value of its native token THETA which the network relies on to facilitate all blockchain transactions.

CoinCu reports:

Sony is collaborating with Theta Labs, a decentralized video streaming network to produce 3D NFT designed specifically for use with the Sony Spatial Reality Display (SRD).

The device went on sale in late 2020 and costs roughly $5,000.

Such NFTs will be unique in that they will be compatible with and visible in mixed reality through Sony’s Spatial Reality Display, a display that allows users to experience things in 3D without the need for traditional 3D devices.

To conclude, this is great news for long term THETA holders, but some still believe that we are still very early in the game when it comes to the Metaverse & NFTs and that this is the equivalent of having Bitcoin back in 2011.

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