Celebrity NFT drops, VIP experiences, and a new token airdrop – Theta Network’s ThetaDrop is among the most innovative marketplaces in 2022. This green platform features live auctions, innovative tokenomics, and even the Theta.tv dedicated streaming site.
In this guide, we’ll help you learn about ThetaDrop’s THETA token price, how waitlists work, and why everybody’s so into the new TDROP token. Let’s open the door to Theta Network’s latest NFT innovation: ThetaDrop!
What is ThetaDrop?
In short, ThetaDrop is the first real-time NFT marketplace built on the Theta blockchain. Although it’s fairly new on the NFT scene, the platform already offers live streaming services for NFT drops and auctions. Surprisingly, ThetaDrop can also broadcast live streams on TV thanks to its connections with cable broadcasters.
The marketplace operates under Theta Network, a blockchain solution focused on media and entertainment. In short, this is a green and cheap option. Its proof-of-stake (PoS) technology makes each transaction 100% environmentally friendly. As for NFT trading, a single transaction on Theta Network costs a fraction of a penny – and works 100 times faster than Ethereum!
Obviously, this new approach convinced tens of iconic brands, artists, and events to launch their collectibles via ThetaDrop. Let’s check them out:
Which NFTs are on Theta?
Back in 2021, ThetaDrop debuted with the World Poker Tour collectibles; collectors were able to buy digital WPT packs and attend live auctions. The mint was so successful, the two are now planning to launch a Web3 Season Pass!
Soon enough, other partners joined the platform. For example, Resorts World Las Vegas released composite NFTs with various rarities. Each collectible came with VIP tickets to the venue’s luxurious facilities, as well as other unique experiences.
Speaking of entertainment, you can also find NFTs from American Idol, The Price Is Right, and FailArmy. Looking for a PFP-style NFT collection instead? The marketplace hosts such drops too, including ThetaPunks.
Other iconic celebrities and brands who partnered with ThetaDrop are:
- Katy Perry
- Dionne Warwick
- Winston Goodfellow
- Pittsburgh Knights
All in all, the marketplace boasts unique initiatives that bring tech and entertainment together. The best part? You can join it too!
How to get involved with Theta NFTs?
To begin with, you must create an account on ThetaDrop. Next, you have several options to get NFTs:
- Participate in NFT auctions;
- Mint new NFT drops;
- Buy NFTs on the marketplace.
For example, NFT auctions come with new pack drops. An auction runs for several hours to several days, offering the rarest NFTs from a new collection. As usual, the top bidder wins – but how can you join?
Once you found a drop you like, sign up to receive notifications. The platform will let you know when a new auction opens. Before the drop, you can deposit funds; when the countdown timer ends, simply click on “Place Bid” and enjoy the experience!
Want to mint a new NFT instead? You must join the waitlist first. Here’s how it works:
How does the ThetaDrop waitlist work?
First, you must add funds to your ThetaDrop account. You can either use TFUEL – the marketplace’s utility token – or pay by credit card. However, if you pay by TFUEL, you will also receive Theta’s new TDROP token via airdrop (more on that below).
Next, you choose the NFT you like, click “Join The Waitlist”, and that’s it! When the drop you picked will open, each collector gets a random place in line. When your turn comes, you have a limited amount of time to mint an NFT. ThetaDrop will notify each collector via the platform or mobile phone.
Don’t want to miss an NFT drop? Luckily for you, you can pre-fund an NFT directly. This way, when your turn comes on the waitlist, the NFT purchase will be made automatically.
Special note: just because you join a waitlist, it doesn’t mean you’ll get an NFT. That’s because each drop has a limited amount of NFTs; many times, there are more waitlist members than NFTs in a collection. ThetaDrop randomly selects members to mint so that everybody gets a fair shot.
Either way, this fun experience has already attracted thousands of collectors this year. But do you know what’s equally fun? Theta.tv.
What is Theta.tv?
Theta.tv is a streaming site created by Theta Labs – the same company that launched Theta Network. Basically, users are rewarded with TFUEL tokens to share video content on the platform with their peers.
Right now, there are dozens of live streams and recorded videos from Theta Labs’ partners and other artists, collectors, or brands. You can watch the World Poker Tour scenes, FailArmy content, gaming marathons, and even clubbing sessions. What’s more, you can also live chat with other users watching the same content as you.
The more videos you watch, the more TFUEL you earn – but why is this token so important?
What is ThetaDrop’s token and where can I buy it?
Theta Network operates using two tokens: THETA and TFUEL.
THETA is a governance token that connects community members to the Theta blockchain. To clarify, each THETA token holder can participate in future decisions regarding the Theta blockchain. Accordingly, there’s a fixed supply of 1 billion tokens.
In addition to voting rights, the THETA token is also stakeable. This means you can stake your THETA tokens to get TFUEL.
TFUEL is the native utility token behind Theta Network. Users utilize this token to trade NFTs on the marketplace, attend auctions, mint new collectibles, and more. Unlike the THETA token, TFUEL has a fixed supply of 5.2 billion tokens.
So why did Theta Network airdrop TDROP tokens in 2022?
Accordingly, the TDROP token arrived via airdrop in 2022 to increase the liquidity of Theta Network’s ThetaDrop NFT marketplace. Users will receive TDROP tokens via airdrop every time they make a purchase using TFUEL on the Theta marketplace. To illustrate, you can think of this process as “mining” TDROP. As a result, users will enjoy better trading volume, improved prices, and more.
Moreover, TDROP is also the governance token of the ThetaDrop marketplace. As a token holder, you can stake your TDROP to gain voting rights for future marketplace decisions – or come up with your own ideas!
How much is the THETA coin worth?
One THETA token costs $1.10, as per CoinMarketCap. Meanwhile, the price of one TFUEL token is $0.05388 at the moment of writing. You can buy both tokens on the top cryptocurrency exchanges, such as Binance.
To conclude, ThetaDrop is a promising NFT marketplace that is clearly just getting started. From iconic NFT drops to live auctions, TDROP airdrops, and even TV streaming via Theta TV, this unique platform is all about entertainment.