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Katy Perry announces launch of NFT on Theta Network and investment in Theta Labs



Global pop superstar Katy Perry has announced the launch of her first NFTs in collaboration with Theta Network, according to a statement shared with Crypto report.

The collaboration's first digital collectibles will feature content from Katy's upcoming “Play” residency at the new Resorts World Las Vegas hotel, beginning in December 2021.

Perry will also acquire a minority stake in Theta Labs alongside talent agency Creative Artists Agency (CAA), one of Theta's latest business validators.

"I am excited and curious to launch my first NFTs later this year with Theta Network," Perry said in a statement.

“This is a new and unique opportunity to connect with my fans around the world, even if they are not with me in Las Vegas. I can't wait to immerse myself with the Theta team in all the exciting and memorable creative pieces, so that my fans can have a special moment of my residency that is both a digital collectible and an IRL experience, ”he added.

This is the first Las Vegas residency to feature exclusive NFTs commemorating the events, making them a one-of-a-kind collectible for Katy Perry superfans around the world.

In a statement, Mitch Liu, CEO of Theta Network, said the launch coincides with the launch of Theta Mainnet 3.0 and marks a major turning point in the history of the protocol.

"With the help of CAA and Katy's management team, we are charting a course to reach beyond crypto enthusiasts to millions of music, media and entertainment fans around the world," Liu added.

Theta Network 101

Theta Network's NFT marketplace, ThetaDrop, is powered by the Theta protocol and a native blockchain that is significantly different from other NFT platforms as it was built expressly for media and entertainment.

The cost of minting NFT and gas fees are as low as $ 0.15 on the Theta network and transaction times are 100 times faster than on Ethereum.

More importantly, the Theta protocol is built from the ground up on a proof-of-stake (POS) model and therefore uses a fraction of the electricity and resources, making it significantly greener and more environmentally friendly. environment than other platforms.

With the release of the Theta Mainnet 3.0 protocol updates on June 30, Theta's distributed network of over 100,000 edge nodes managed by the global community continues to grow exponentially.

In the future, edge nodes will support decentralized NFT storage, allowing users to truly own and guard their NFTs, and not depend on any centralized platform.

Cross-chain bridges between Theta Network, Ethereum, and other blockchains will allow seamless NFT transfer across markets, notably Opensea, Nifty Gateway, and others based on Ethereum.


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