Hollywood Powerhouse CAA Joins Blockchain Video Network Theta
The addition of Creative Artists Agency as a validator brings the video network closer to full decentralization, said Theta Labs CEO Mitch Liu.
May 27, 2021 at 2:53 p.m. UTCUpdated May 9, 2023 at 3:20 a.m. UTC
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Top talent and sports agency Creative Artists Agency (CAA) has joined Theta to help with governance and validation of its blockchain-based video delivery network.
- CAA will work alongside seven other external Theta Enterprise Validator and Governance Council members, including Google, Samsung and Sony, as well as major private equity and cryptocurrency firms.
- The membership means CAA will run a validator node and help ensure the robustness of the network, Theta announced in a press release on Thursday.
- Theta sets out to enable video platform clients to earn more revenue and reduce delivery costs. Users are rewarded for sharing bandwidth to help relay video on a peer-to-peer basis. It also has an non-fungible token (NFT) marketplace called ThetaDrop.
- "We believe that blockchain technology and the rise of digital collectible NFTs will bring unprecedented opportunities to our family of storytellers, trendsetters, icons and thought leaders in the entertainment industry," Michael Yanover, CAA's head of business development, said in a statement.
- "With CAA on board over half of our validators are now run by external partners advancing us closer to full decentralization," said Theta Labs co-founder and CEO Mitch Liu.
- Theta's native TFUEL token has a market cap of $1.6 billion, according to CoinGecko data.
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