HomeNewscoinquora.comEsports Crypto Streaming Service Become a $6 Billion Business

Esports Crypto Streaming Service Become a $6 Billion Business

- Advertisement -


  • Theta’s market value has grown to around $6 billion.
  • This puts it in the ranks of the top 20 digital tokens, according to CoinMarketCap.com.

After gathering more than 300% this year, Theta’s market value has grown to around $6 billion. This puts it in the ranks of the top 20 digital tokens, according to CoinMarketCap.com

Theta is a blockchain project that supports a peer-to-peer video streaming network. Also, it offers rewards to many of its 1 million monthly users in exchange for unused bandwidth.

According to Bloomberg, Sony Group Corp. and Samsung Electronics Co. are part of the business titans that back the project, which an esports live-streaming startup developed.

Bloomberg said that investors like Sony also stake coins, a process used to help validate transactions that create new blocks in blockchain networks. In exchange, they get rewards of a token called TFuel. As a result, this token has increased in value to about $2 billion.

A little over a year ago, Theta was trading for 4 cents. Now, it is trading around $6. Following this, Samuel Harrison, managing partner at Blockchain.com Ventures, said that the Theta token is up 100x-plus since they invested in it. Blockchain.com Ventures has an equity stake. More so, it holds coins and works as a validator of transactions.

In an interview, Mitch Liu, chief executive of Theta Labs Inc., said,

A heavy viewer can get $5-$10 a month. It’s significant in developing countries. And that pays for half of your Netflix subscription. An average Theta.tv user watches for about 63 minutes a day.

In addition, Liu said while Theta’s audience isn’t growing, it has stayed stable for years. “We made a strategic decision that we are not going to be competing with YouTube,” he stated. This is because the co-founders of YouTube and Twitch are among the company’s advisers.

Instead, the firm added that it is expanding its services. The company said it will also get into NFTs, or non-fungible tokens. As per Bloomberg, the pop star Katy Perry said she would make NFTs of her shows available on the network. And also, take an undisclosed stake in the company.



Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,493FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,941.00
ethereum
Ethereum (ETH) $ 3,069.01
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 547.69
litecoin
Litecoin (LTC) $ 160.40
eos
EOS (EOS) $ 4.36
okb
OKB (OKB) $ 17.12
tezos
Tezos (XTZ) $ 5.50
leo-token
LEO Token (LEO) $ 2.99
cardano
Cardano (ADA) $ 2.15
monero
Monero (XMR) $ 234.64
stellar
Stellar (XLM) $ 0.285873
chainlink
Chainlink (LINK) $ 24.45
huobi-token
Huobi Token (HT) $ 12.44
tron
TRON (TRX) $ 0.094421
usd-coin
USD Coin (USDC) $ 0.9999
dash
Dash (DASH) $ 179.81
neo
NEO (NEO) $ 42.83
iota
IOTA (MIOTA) $ 1.37
nem
NEM (XEM) $ 0.161387
zcash
Zcash (ZEC) $ 119.34
maker
Maker (MKR) $ 2,530.82
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 49.91
vechain
VeChain (VET) $ 0.096284
true-usd
TrueUSD (TUSD) $ 0.998359
ftx-token
FTX Token (FTT) $ 54.69
kucoin-shares
KuCoin Token (KCS) $ 10.38
waves
Waves (WAVES) $ 24.07