Decrypt and Theta Labs Collabo to Develop Web3 Theater Video Streaming Solution
Decrypt, the web3-focused media company, and creative studio, and Theta Labs, an industry leader in decentralised video streaming technology, have announced a strategic partnership. The partnership between the two companies is expected to accelerate innovations in Web3 video streaming.
Beginning on October 6th, existing video workflows at Decrypt will be optimised by Theta Network’s patented technology. In addition, they will introduce new video portal products and GG pass members will gain access to premium content only accessible with their pass.
Theta and Decrypt synergise to revolutionise web3 video delivery
The Web3 infrastructure provided by Theta is built to help media and entertainment enterprises generate new revenue streams, increase user participation, and develop innovative Web3 business models. Theta also provides a Video API that is developer-friendly and decentralised to drastically reduce the costs of video transcoding, storage, and distribution.
Through this partnership, Decrypt is able to expand the reach of its GG collection on Polygon, in addition to Ethereum and the native Theta chain, by leveraging Theta’s patented video digital rights technology. Together, Decrypt’s high-quality content and Theta’s innovative technology usher in a new era in digital content distribution. The partners say that this will usher in an era of unprecedented depths of user participation and interaction.
Theta’s innovative video portal solution, rebranded as Theta Web3 Theatre, will allow Decrypt to realise the full potential of its GG collection. The GG Pass, a free-to-mint NFT on Polygon, acts as a membership card for the private GG community. It gives its members access to premium material protected by Metamask by Theta’s NFT DRM.
Previous iterations of the Theta Web3 Theatre video portal product have enabled unique video experiences like MetaCannes and the World of Women Gala and provided high-perfomance distribution channels for the World Poker Tour. The new era of content and video consumption will come by merging Theta’s unique video and digital rights technology with Decrypt’s well-established workflows.
By adding exclusive premium video content, streamlining the minting process for GG Hub Passes through email sign-up, and integrating NFT DRM technology to authenticate Polygon NFTs, this venture aims to improve the overall interoperability and user experience of Decrypt’s current GG collection.
Decrypt’s Co-Founder, Ilan Hazan, said, “With the introduction of our gaming hub, GG, and our heightened focus on video content, Theta emerged as a perfect fit to achieve our vision.”
According to Mitch Liu, co-founder and CEO of Theta Labs, the partnership with Decrypt is the first step in the plan of using Theta technology to attract users from other blockchains by giving value to current crypto communities.