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Katy Perry announces NFTs on Theta Network, invests in Theta Labs

The global popstar is choosing the high-speed blockchain for her first-ever NFT drop.

Katy Perry announces NFTs on Theta Network, invests in Theta Labs
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Global pop superstar Katy Perry has announced the launch of her first NFTs in collaboration with Theta Network, as per a release shared with CryptoSlate.

The first digital collectibles of the collaboration will feature content from Katyโ€™s upcoming โ€œPlayโ€ residency at the brand new Resorts World Las Vegas hotel, beginning in December 2021.ย 

Perry will also acquire a minority interest in Theta Labs alongside talent agency Creative Artists Agency (CAA), one of Thetaโ€™s latest enterprise validators.

ย โ€œIโ€™m both excited and curious to be launching my first ever NFTs later this year with Theta Network,โ€ said Perry in a statement.

โ€œThis is a new, unique opportunity to connect with my fans around the world even if they arenโ€™t with me in Las Vegas. I canโ€™t wait to dive in with the Theta team on all the exciting and memorable creative pieces, so my fans can own a special moment of my residency thatโ€™s both a digital collectible as well as an IRL experience,โ€ she added.

ย This is the first-ever Las Vegas residency to feature exclusive NFTs commemorating the events, making them a one-of-a-kind collectible for Katy Perry superfans across the world.ย 

In a statement, Mitch Liu, CEO of Theta Network, said the launch coincides with Thetaโ€™s Mainnet 3.0 launch and marks an important inflection point in the protocolโ€™s history.

โ€œWith the help of CAA and Katyโ€™s management team, weโ€™re charting a course towards reaching well beyond crypto enthusiasts to millions of music, media and entertainment fans around the world,โ€ added Liu.

Theta Network 101

Theta Networkโ€™s NFT marketplace, ThetaDrop, is powered by the Theta protocol and a native blockchain that is significantly different from other NFT platforms as it was purposefully built for media and entertainment.ย 

The cost of minting NFTs and gas fees are as low as $0.15 on the Theta network and transaction times are 100x faster than on Ethereum.

More importantly, the Theta protocol is built from the ground up on a proof-of-stake (POS) model and therefore uses a fraction of the electricity and resources making it significantly greener, and more environmentally friendly than other platforms.ย 

ย With the launch of the Theta Mainnet 3.0 protocol upgrades on June 30th, Thetaโ€™s distributed network of more than 100,000 global community-run edge nodes continues to grow exponentially.ย 

In the future, edge nodes will support decentralized NFT storage enabling users to truly own and take custody of their NFTs, and not depend on any centralized platform.ย 

Cross-chain bridges between Theta Network, Ethereum and other blockchains will enable seamless NFT transfer across marketplaces, notably Ethereum-based Opensea, Nifty Gateway and others.

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