Theta Labs regrets the cancellation of the first WPT ThetaDrop, which was supposed to take place this past Sunday, May 2. Due to the live broadcast and real-time commercials that ran on TV and cable broadcast during the Season XVIII Theta Network WPT Cash game, there was abnormally high traffic. It was recognized that the systems needed to scale out even further globally to meet this high demand, with the top ten countries including not only the United States, the United Kingdom, Australia, and Canada, but also Spain, Germany, South Korea, Russia, the Netherlands, and China. All users that pre-funded with a credit card or TFUEL before May 2 will receive 100 free TFUEL airdropped to their ThetaDrop accounts as compensation for the inconvenience.
WPT Thetadrop still available to specific individuals
The inaugural WPT Thetadrop, as well as the Mike Sexton auction, will now take place on Thursday, May 13 at 4 p.m. PT. The silent auction will run until Monday, May 17 at 4 p.m. PT. The pack drop will finish when it’s sold out or at 4 p.m. PT on that day. All those on the waitlist will remain in the same random spot in line starting May 2. This means there will be no changes. As a reminder, being in a random line position does not guarantee that you will be called. It is not also guaranteed that you will be able to buy anything. Even if you pre-funded this item, there is a 1 in 10 chance of getting contacted to purchase. There are 1000 individuals on the waitlist for the 100 Legendary packs.
Packs will be accessible solely to individuals who signed up for the waitlist before May 2 for this first drop. For those who have pre-paid and whose number is called at random, a pack will be delivered automatically. There will be a 15-minute window to finish the transaction if pre-funding is not selected and the random spot in line is called. Make sure to include a phone number to receive SMS notifications when the place in line is called.
One can still enter the second WPT ThetaDrop if the number is not called on May 13 or if not on the drop waitlist.
What is THETA?
Theta is a decentralized peer-to-peer video distribution network. It is backed by the blockchain that allows for free, high-bandwidth content transfer. The computational power is used to transmit videos to other viewers as they watch them. The primary viewers receive tokens as a reward.
By providing a decentralized video streaming platform that is less costly than centralized platforms. Theta Network hopes to be the next phase of entertainment technology.
What is TFUEL?
Theta Fuel (TFUEL) is one of the Theta blockchain’s two native coins. TFUEL should not be confused with Theta Token (THETA). The Theta blockchain’s governance token is backed by thousands of community-run Guardian nodes and Enterprise validators such as Google, Binance, Blockchain Ventures, Gumi, and Samsung.
TFUEL is utilized to power everything on the Theta blockchain, including payments to relayers for sharing a video stream, smart contract deployment, and interaction, and fees for trading NTFs and DeFi applications.
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