Theta Network is a decentralized video streaming and delivery 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 release the show’s first-ever NFT collection.
- Theta NFTs are especially useful for community building in the entertainment industry.
- Theta NFT can provide American Idol fans with a unique show-watching experience.
- Moving forward into the Web3 era, Theta NFTs strive to assist brands in bringing 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 admire 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 the frequent buyers of Gucci.
In the context of Web 2.0, community-building happens through social media management. Unfortunately, this is still a one-way interaction with limited possibilities for fans to participate. But things change in the era of Web3, thanks to non-fungible tokens. NFTs can provide a unique and engaging way for brands to bond with their followers and create a content consumption experience that is way more participatory.
Building a strong community for businesses, Theta (THETA) is at the forefront by providing a powerful decentralized infrastructure, tools, and platform. Lately, the popular reality shows American Idol launched its first-ever NFT series with Theta to celebrate the 20th season.
Theta NFT brings participation to the American Idol audience
Theta set out as an infrastructure provider that leverages blockchain technology to create the first decentralized video streaming and delivery network. After years of solid development, Theta has evolved into an all-encompassing ecosystem, where Theta NFTs play a critical role in shifting the paradigm of entertainment businesses.
Let’s look at Theta’s partnership with American Idol to see how Theta NFTa can help form a more loyal and engaged community.
American Idol launched NFTs as trading card packs for its contestants on Theta Network. Each pack features a random contestant from the top 14 American Idol contestants from season 20.
Before the launch of American Idol NFT, the only way for fans to be part of the show was just by watching it. Maybe they would send an SMS or tweet about it, but that’s it. However, now the journey of an American Idol contestant can be linked to their fans. Holders of the American Idol NFTs will also embark on a five-week competition where their prizes depend on how far the contestants on their NFTs can go. This creates a much more involved user experience.
How can Theta NFT benefit brands’ community
The media and entertainment industry has been experimenting with new ideas to enhance the engagement and loyalty of its community for years. The tipping mechanics of Twitch and the subscription model of Patreon are two successful endeavors. However, the sense of inclusiveness that a community should have provided is missing in these models.
With Theta NFT, this problem can be fundamentally improved. The mission of Theta NFT is to reward fans for all their time and even money spent to support their favorite brands and content. But, more importantly, it can permanently record the shared memories and experiences of fans and community members on the blockchain.
This is why so many big names with foresight into Web3 chose to partner with Theta to curate an interactive community experience for their fans. These include Katy Perry, Dionne Warwick, the World Poker Tour, and The Price is Right.
Moving forward into the Web3 era, brands will face a more sophisticated audience who are purpose-driven and value-seeking. Community management through traditional social media will not be enough to fulfill those audiences. Theta invites you to dive deeper into the power of community, which is disrupting and potentially nurturing a future format of a more participatory and interactive ecosystem for entertainment businesses, brands, and consumers.
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