Theta Network (THETA) Partners With Freemantle To Launch NFTs

February 14, 2022 10:54 am Comments

Freemantle is a global television and production company that currently produces some of the most popular television series such as “The Price is Right”.

The company has announced that they will be partnering with Theta Network in order to launch NFTs for the first time on the television network.

These NFTs will be dropped and will allow viewers to essentially to engage with the show based on their favorite games within the series.

InvestingCube reports:

Winner of a Daytime Emmy Award, The Price Is Right is presently airing its 50th season, a record-breaking milestone for the long-running daytime game show.

The show amassed a global following of millions of ardent fans using classic games like Plinko, Cliffhangers, and Punch-A-Bunch.

Theta Labs CEO and co-founder Mitch Liu expressed his delight at working with The Price Is Right Team, describing as an iconic brand.

He added that the partnership would see Theta Labs continue with its revolutionary approach to utility-focused NFTs.

Other renowned brands on the Theta Labs platform include Jukin Media, Katy Perry, Fuse Media and WPT.

The decision to launch on ThetaDrops is due to the high level of efficiency on Theta Network.

Although ThetaDrop is an NFT protocol, it stands apart from other NFT marketplaces in that it focuses on video, media, and entertainment.

One of the things that sets the NFTs used in this case is that the NFTs are focused on providing specific benefits to its users which incentivizes viewers to actively engage.

Depending on the specific NFT, the user will be able to use it to redeem specific collectibles that are related to the show and this launch could serve as the foundation of how future NFTs could be used in the future for other show productions.

Theta Network was most likely chosen for this initiative due to its unique focus on creating a decentralized and blockchain based video entertainment platform.

Theta is a proof of stake blockchain network and has been known as an energy efficient platform that has had the support of several high profile investors and advisors including the co-founder of Youtube.

NFTgators shares:

Theta Network’s ThetDrop NFT marketplace is purposely built for video, media and entertainment projects, which makes it unique from other NFT marketplaces.

ThetaDrop is powered by Theta Protocol a blockchain ecosystem that utilises the proof-of-stake mechanism, thus executing transactions 100x faster than on Ethereum, which utilizes the energy-consuming proof-of-work mechanism. As a result, the cost of minting NFTs is significantly lower.

Commenting on the NFT launch, Mitch Liu, co-founder and CEO of Theta Labs said he was thrilled to welcome The Price Is Right to Theta Network, highlighting the brand’s iconic status earned over the years.

“They join our other great brand partners including Katy Perry, WPT, Jukin Media and Fuse Media to launch a whole new way to think about utility-focused NFTs,” Liu said, adding that the platform was looking forward to The Price Is Right NFT drops, that will be issued “in ways never seen before.”

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