Theta Network is a decentralized video streaming and distribution network
Theta NFT aims to help brands build a strong community by enabling more engaging and valuable interactions with non-fungible tokens. Lately, Theta NFT teamed up with American Idol to launch the show’s first ever NFT collection.
- Theta NFTs are especially useful for community building in the entertainment industry.
- Theta NFT can bring American Idol fans a unique show viewing experience.
- Moving into the Web3 era, Theta NFT strives to help brands take their community building to the next level.
Community building has become one of the essential activities for brands to engage their customers in modern society. In a community, members, customers or fans share certain goals and values or simply look up to the same idol. For example, a community could be the audience of Chelsea Football Club, the fan base of the K-Pop group Black Pink, or frequent buyers of Gucci.
In the context of Web 2.0, the creation of communities is done through the management of social networks. Unfortunately, this is still a one-way interaction with limited possibilities for fans to engage. But things change in the age of Web3, thanks to non-fungible tokens. NFTs can provide a unique and engaging way for brands to engage with their followers and create a much more engaging content consumption experience.
Building a strong community for businesses, Theta (THETA) is at the forefront of providing a powerful decentralized infrastructure, tools, and platform. Recently, popular reality shows American Idol launched their first NFT series with Theta to celebrate the 20th season.
Theta NFT brings engagement to the American Idol audience
Theta was established as an infrastructure provider leveraging blockchain technology to create the first decentralized video streaming and distribution network. After years of solid development, Theta has grown into an all-encompassing ecosystem, where Theta NFTs play a pivotal role in changing the paradigm of entertainment business.
Let’s look at Theta’s partnership with American Idol to see how Theta NFTa can help build a more loyal and engaged community.
American Idol released NFTs as trading card packs for their contestants on Theta Network. Each pack features a random contestant from the top 14 American Idol contestants from season 20.
Before the release of American Idol NFT, the only way for fans to be a part of the show was to simply watch it. Maybe they’d text or tweet about it, but that’s about it. However, now an American Idol contestant’s journey can be linked to her fans. Holders of American Idol NFTs will also embark on a five-week competition in which their prizes will depend on how far the contestants can go on their NFTs. This creates a much more involved user experience.
How can Theta NFT benefit the brand community?
The media and entertainment industry has been experimenting with new ideas to improve their community engagement and loyalty for years. Twitch’s tipping mechanic and Patreon’s subscription model are two successful efforts. However, these models lack the sense of inclusion that a community should have provided.
With Theta NFT, this problem can be fundamentally improved. Theta NFT’s mission is to reward fans for all the time and even money spent supporting their favorite brands and content. But more importantly, it can permanently record the memories and shared experiences of fans and community members on the blockchain.
This is why so many big names with vision in Web3 have chosen to partner with Theta to create an interactive community experience for their fans. These include Katy Perry, Dionne Warwick, the World Poker Tour and The Price is Right.
Moving into the Web3 era, brands will face a more sophisticated audience that is purpose-driven and value-seeking. Community management through traditional social networks will not be enough to satisfy these audiences. Theta invites you to delve into the power of community, which is revolutionizing and potentially fueling a future format of a more engaging and interactive ecosystem for entertainment businesses, brands and consumers.
More about Theta: