Theta Network has begun to trend online as interest in the project swells.
Theta Network, the native token of the Theta platform, has seen a rise in price and volume in recent days. Trading volume for the project rose by 77% up to $527,567,567, while its price managed to see a rise of 1.6% in the last 24 hours to a trading price of $9.41.
A related token created for another aspect of the Theta platform, Theta Fuel, has also performed well recently, gaining 12% in the last 24 hours.
Theta is a platform designed to monetise streaming video platforms, such as movies, tv shows and sport events.
The pandemic has seen a rise in revenue for streaming platforms as people were stuck inside, which could explain why the project has seen some gains as people buy Theta.
Where to buy Theta
What makes Theta a good buy right now?
The platform aims to get around bandwidth issues for video streaming by hosting videos on a decentralised blockchain. This could be a game changer in countries where there is limited internet infrastructure but a growing number of consumers that wish to access online content more than ever before.
Nodes would be able to cache content and allow for easier access. Network participants that act as “Cache Nodes” would be rewarded with tokens as a way to incentivize network hosting of video streaming content.
This could have big implications for how streaming works, especially for areas of the world that are still a decade or more from full internet infrastructure, such as remote parts of Africa, Asia and Russia.