Theta Labs

Theta Labs offers a blockchain-based decentralized video delivery network designed to provide high-quality video streaming at lower costs. The platform comprises the Theta blockchain, which handles consensus, rewards, and smart contracts, and the Theta Edge Network, responsible for content delivery via a global network of over 100,000 Edge computing nodes. The Theta blockchain also supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), enabling the development of decentralized applications (dApps) for a range of use cases.

The network’s key features include a decentralized video-on-demand platform, live streaming capabilities, NFT-based digital rights management (DRM), and a decentralized data storage system called “Theta EdgeStore.” Enterprises can leverage the network for decentralized encoding, storage, and peer-to-peer delivery while individual users earn token rewards for sharing their bandwidth and computing resources to cache and relay video streams. Moreover, the company also offers the Theta Video API, which allows developers to add decentralized video to any website or application without central servers.

Theta operates using a dual-token model, THETA, a native governance token used for staking and protocol decisions, and TFUEL, a native operational token used for payments and on-chain operations like video stream relaying.

In May 2024, the company launched EdgeCloud, a hybrid cloud computing platform that enables users to run a wide range of computing tasks, including video encoding, AI model training, scientific simulations, and financial modeling. Notably, users can power a range of GenAI models, such text-to-video, text-to-3D, and sketch-to-3D, and build AI applications on top of the network. Theta also provides a range of third-party foundation model templates such Meta Llama 2, Google Gemma LLMs, and the CodeLlama coding model to enable faster configuration and deployment.

Key customers and partnerships

Theta Network has established partnerships with several prominent companies in the technology and entertainment industries, including 1) AWS (June 2024): to enable users to deploy edge nodes on AWS’ cloud platform using blueprints from the AWS Blockchain Node Runners repository, 2) Google (August 2023) to develop solutions for emerging AI use cases in video, media, and entertainment using cloud and Edge computing technology, 3) Sony to integrate its services with its PlayStation Network to offer gamers a decentralized video streaming option, 3) ABS-CBN (March 2023) to serve as the Web3 video infrastructure partner for ABS-CBN's business units and digital collectibles NFT business, and 4) FedML (July 2023) to enable collaborative machine learning for content recommendations and GenAI on the Theta Network.

As of July 2024, served a number of enterprise clients including WPT, Sony, Lionsgate, American Idol, Fuse, NASA, and Samsung.