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Everything you need to know
Celebrity NFT drops, VIP experiences and a new token airdrop – Theta Network’s ThetaDrop is among the most innovative marketplaces of 2022! This green platform features live auctions, innovative tokenomics and even Theta.tv dedicated streaming site.
In this guide, we’ll help you learn about ThetaDrop’s THETA token price, how waiting lists work, and why everyone is so interested in 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 fairly new to the NFT scene, the platform already offers live streaming services for NFT releases and auctions. Surprisingly, ThetaDrop can also broadcast live streams on TV thanks to its connections to cable broadcasters.
The marketplace operates under Theta Network, a blockchain solution with a focus on media and entertainment. Not only is it greener than Ethereum, but also cheaper! The proof-of-stake technology makes every transaction 100% environmentally friendly. When it comes to NFT trading, a single transaction on Theta Network costs a fraction of a penny – and works 100 times faster than Ethereum!
This new approach obviously convinced dozens of iconic brands, artists and events to launch their collectibles via ThetaDrop. Let’s check them out:
Which NFTs are at Theta?
Back in 2021, ThetaDrop debuted World Poker Tour collectibles; collectors could purchase digital WPT packs and participate in live auctions. The coin 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 compound NFTs with different 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 also hosts such drops, including ThetaPunks.
Other iconic celebrities and brands that collaborated with ThetaDrop are:
- Katy Perry
- Dionne Warwick
- Winston Goodfellow
- Pittsburgh Knights
- Sony
- Samsung
All in all, the marketplace has unique initiatives that bring technology and entertainment together. The best part? You can join too!
How to get involved with Theta NFTs?
To begin with, you need to create an account on ThetaDrop. Then 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 package drops. An auction lasts from several hours to several days and offers the rarest NFTs from a new collection. As usual, the highest bidder wins – but how can you join?
Once you’ve found a drop you like, sign up to receive notifications. The platform will notify you when a new auction opens. Before release you can deposit funds; when the countdown is over, just click “Place Bid” and enjoy the experience!
Do you want to create a new NFT instead? You must register on the waiting list first. This is how it works:
How does the ThetaDrop waiting list work?
First, you need to add funds to your ThetaDrop account. You can either use TFUEL – the marketplace’s utility symbol – or pay by credit card. But if you pay with TFUEL, you will also receive Theta’s new TDROP token via airdrop (more on that below).
Then select the NFT you like, click “Join the Waitlist” and that’s it! When the drop you selected is opened, each collector gets a random place in the queue. When your turn comes, you have a limited amount of time to make an NFT. ThetaDrop will notify each collector via the platform or mobile phone.
Don’t want to miss an NFT release? You can pre-finance an NFT directly! This way, when your turn comes on the waiting list, the NFT purchase will be made automatically.
Special note: just because you join a waiting list doesn’t mean you’ll get an NFT! That’s because each drop has a limited amount of NFTs; many times there are more waiting list members than NFTs in a collection. ThetaDrop randomly selects members to impress, so everyone gets a fair chance.
Regardless, this fun experience has already attracted thousands of collectors this year. But you know what’s just as fun? Theta.tv!
What is Theta.tv?
Theta.tv is a streaming site created by Theta Labs – the same company that launched Theta Network. Initially, users are rewarded with TFUEL tokens for sharing video content on the platform with their peers.
Right now there are dozens of live broadcasts and recorded videos from Theta Labs’ partners and other artists, collectors or brands. You can watch the World Poker Tour stages, FailArmy content, gaming marathons and even club sessions. In addition, you can also live chat with other users who are viewing the same content as you.
The more videos you watch, the more TFUEL you earn – but why is this token so important?
What is ThetaDrops token and where can I buy it?
Theta Network operates with two tokens: THETA and TFUEL.
THETA is a governance token that connects community members to the Theta blockchain. To clarify, every THETA token holder can participate in future decisions regarding the Theta blockchain. Consequently, there is a fixed supply of 1 billion tokens.
In addition to voting rights, the THETA token can also be staked. This means you can bet your THETA tokens to get TFUEL.
TFUEL is the original tool behind Theta Network. Users use this token to trade NFTs on the marketplace, participate in auctions, create new collectibles, and more. Unlike the THETA token, TFUEL has a fixed supply of 5.2 billion tokens.
So why did Theta Network issue TDROP tokens in 2022?
Accordingly, the TDROP token arrived via airdrop in 2022 to add liquidity to Theta Network’s ThetaDrop NFT marketplace. Users will receive TDROP tokens via airdrop every time they make a purchase with TFUEL on the Theta Marketplace. To illustrate, 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 governing symbol of the ThetaDrop marketplace. As a token holder, you can stake your TDROP to vote on future market decisions – or come up with your own ideas!
How much is THETA coin worth?
One THETA token costs $1.10, according to CoinMarketCap. Meanwhile, the price of one TFUEL token is $0.05388 at the time of writing. You can buy both tokens on 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.
Looking for more information on the best NFT marketplaces? You can check out our in-depth guides on OpenSea, SuperRare and Nifty Gateway to get started like a pro!
