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Theta Price Predictions

As a sell-off has increased across the crypto markets in recent days, the price of the Theta cryptocurrency – THETA – has plunged to its lowest level since late July.

Theta Price Predictions iBase Trading.
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As a sell-off has increased across the crypto markets in recent days, the price of the Theta cryptocurrency – THETA – has plunged to its lowest level since late July. From an all-time high of $8.49 in early November, the token has dropped by roughly half.

Is there a future for the THETA cryptocurrency? Is there any more room for the price to drop, or will it make a comeback?


Theta’s Cheaper Decentralized Video Streaming

Theta is an open-source blockchain that was launched in spring 2019 with the goal of providing decentralized video delivery.

The peer-to-peer network efficiently delivers high-quality video streams to developers at a minimal cost. Furthermore, this eliminates the need for costly infrastructure.

On the blockchain, content creators can build specialized decentralized applications (dApps). As a result, viewers benefit from getting payments for sharing their bandwidth.

Theta Token

The THETA token is used for governance and to stake as a validator or guardian node in the Theta protocol’s dual-token structure.

The supply of it limits to one billion. THETA FUEL (TFUEL) is the protocol’s operational token. Having said that, it’s utilized for things like payments to Edge Node relayers, video-stream sharing, and smart contracts.

TFUEL is the network’s fuel. According to Theta’s white paper, there were 5 billion TFUEL tokens when the blockchain opened. Moreover, the supply increases every year at a regulated rate set by the protocol.

Mitch Liu is a co-founder of video advertising firm Tapjoy and mobile gaming startup Gameview Studios.On the other hand, Jieyi Long is a patent holder for virtual reality (VR) live broadcasting and video game quick. Mitch Liu and Jieyi Long replays established Theta.

Long and Liu also co-founded THETA.tv, a live-streaming platform that created the first Theta dApp.

Focusing on Expanding Ecosystem

It is changing its attention away from protocol development and toward expanding its ecosystem. In addition, it is also driving blockchain use for video and data transport. According to the Industry Research Co., the worldwide entertainment and media market will to increase at a compound annual growth rate (CAGR) of 10.4 percent to $6.7 trillion by 2030.

In addition to the benefits of decentralized streaming and video delivery, many ongoing strategic discussions with global video and OTT platforms have centered on NFTs and digital collectibles as a new source of revenue.

These long-term discussions now include building their NFTs on the Theta NFT smart-contract platform. Furthermore, incorporating exclusive NFT drops as part of the live experience for movies and shows across multiple seasons. It is also leveraging Theta P2P infrastructure to incentivize viewers with TFUEL, and introducing a fan reward and engagement program.

To meet its fully integrated vision, the Theta network will need to grow into decentralized storage, according to the white paper.

The network of Elite Edge nodes are an ideal medium for storing and delivering all forms of digital media, including video, photos, music, and any digital asset, with an enhanced focus on video-on-demand, NFTs, and digital collectibles.

TDROP, a new native TNT-20 token developed on the its blockchain, will reward NFT liquidity mining, enable decentralized governance via staking, and reward Theta validators, guardians, and Elite Edge node operators as part of Theta’s expansion strategy.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Abby Hernandez is an independent crypto writer for iBaseTrading. She is passionate about NFT, decentralization and anything related to blockchain technology. She has worked in the financial sector for 7 years and loves yoga and dancing.