Theta Labs, a decentralized video delivery network, and World Poker Tour (WPT), the premier name in live poker entertainment, have announced a partnership to launch the world’s first real-time NFT marketplace.
WPT and Theta Labs launched this new marketplace through a unique WPT NFT drop site. This site launch accompanied the beginning of World Poker Tour Season XVIII on April 18, which airs nationwide on Bally Sports Networks. Now the marketplace has opened registration and pre-funding.
— Theta Network (@Theta_Network) April 23, 2021
Starting today, users can pre-fund their ThetaDrop account with TFUEL. The first live drop will take place on May 2 during the World Poker Tour episode.
Every year, WPT is broadcasted to over 140 million viewers across different continents. This includes North America, Europe, and the rest of the world on multiple linear and digital platforms.
Besides, the Season XVIII premiere dates were stated as follows:
April 18, 2021 – Theta Network WPT Cash game, part 1
April 25, 2021 – Theta Network WPT Cash game, part 2
May 2, 2021 – Theta Network WPT Cash game, part 3
May 9, 2021 – Theta Network WPT Cash game, part 4
Accordingly, during the weekly episodes, in-show advertisement and promotional segments will lead viewers to the NFT marketplace to queue up, as well as purchase exclusive WPT packs. It’ll be for a limited time. They will also be able to participate in the auction for a unique legendary poker moment.
During the campaign, WPT plans to pay tribute to legendary poker icon Mike Sexton, who passed away last September. Mike Sexton was the face of WPT as lead anchor and commentator, alongside Vince Van Patten. The tribute is in the form of “Mike Sexton: The Legend Hand” as a 3 of 3 NFT to be auctioned.
In addition, a limited quantity of Base, Rare, and Legendary themed poker packs will be dropped.
World Poker Tour CEO Adam Pliska said the NFT launch with Theta Network is one of the biggest digital initiatives currently. It’s also the first time they’ll combine their global reach of live televised poker with an NFT marketplace.
“We are thrilled to bring some of our top Poker pros, players and celebrities to the NFT world, featuring rare and legendary WPT packs in weekly drops and running exclusive one of a kind auctions for super rare poker moments,” Pliska added.
— World Poker Tour (@WPT) April 21, 2021
Rationale Behind Choosing Theta
The ThetaDrop NFT marketplace leverages on Theta Network, a blockchain that was purposefully built for media and entertainment. The cost of minting NFTs and the gas fees on the network are quite low (at $0.00001). The transaction times are also 100x faster than on Ethereum.
Besides, Theta protocol was created on a proof-of-stake (PoS) model, making it more environmentally friendly than other platforms.
Going forward, the distributed network of over 30,000 community-run edge nodes is expected to support decentralized NFT storage. Therefore, helping users own and take custody of their NFTs and not depend on any centralized platform.
Additionally, the team is developing a cross-chain bridge between Theta Network, Ethereum, and other chains. It will enable seamless NFT transfers and transactions across networks, so users can take their NFTs where they want to.
Mitch Liu, CEO of Theta Labs said, “ThetaDrop maximizes earnings to brand partners and creators by bringing the interactivity, real-time engagement and personality possible only through a livestream when doing NFT drops and auctions. Theta’s proof-of-stake native blockchain means creators can be assured that minting and transacting NFTs are 100% eco-friendly, fast and inexpensive.”
About World Poker Tour (WPT)
World Poker Tour (WPT) is a huge name in televised gaming and entertainment with brand presence in television, land-based tournaments, mobile, and online across the world. WPT has reportedly helped fuel the global poker boom due to its television show of high-stakes poker tournaments.
World Poker Tour enjoys a worldwide audience. It is broadcast in over 150 countries and territories. The latest season of WPT – Season 18 – can be viewed in the United States on the FOX Sports Regional Networks.
THETA and TFUEL Price
As of the time of publication, Theta Network price was $9.47, with a 24-hour trading volume of $484,345,652 and a market cap of $9,414,993,621.
Theta Fuel (TFUEL) price was $0.285687, a gain of 15.2% over the last 24 hours. The coin enjoys a 24-hour trading volume of $74,187,633.
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