The successful sale of over 1 million tokens through SLIVER.tv in January and the concept of the project placed Theta at the center of the crypto guru’s radar.
Theta has been bound for success since its presale stage when the Theta Labs team had to close out the overcrowded pool in a month and also canceled the public sale to maintain its hard cap.
He stated: “I became interested in the Theta Labs project after reading the white paper, which led to my first conversations with Mitch (Liu, CEO of Theta Labs). What stood out to me was that Theta is solving a real problem that they encountered while building SLIVER.tv”
The announcement is expected to boost the coin’s price significantly to the $1 level in the future. Currently trading at $0.180708, it reaches a market cap of over $100 million for the second time during the last month.
Mitch Liu, CEO of Theta Labs, expressed the team’s excitement: “Steve was an early contributor in the blockchain space and has continued to innovate since then. He’ll be a valued addition to our Blockchain Advisory Council and we’re excited to work with him as we develop the native Theta blockchain and beyond.”
Theta Labs created the Theta network where blockchain meets esports. Theta allows gamers to interact with the best bloggers and streamers and provides a solution for the currently overcrowded servers which make data transfer of ‘mega content’ very expensive, because of the constant need for their hardware upgrade.
Theta’s decentralized, secure and rigid network runs on its native token - THETA coins, which are used as a payment method to users who offer their personal computers as “caching servers”, allowing peer-to-peer content distribution.
Users can choose nearby servers and connect to them to see the choice of videos that will be delivered to them. Furthermore, users have the opportunity to upload and convert their streams and videos in the correct resolution and format.
Theta has made a promising start and is aiming high in its plans for the future. Attracting some of the finest blockchain minds could only help it achieve its goal faster.