Mitch Liu Expressed: I envisioned a ‘meta place’ where gaming fans and esports spectators could immerse themselves in the virtual world of League of Legends to be able to render these virtual game worlds in full 360 video, with a VR headset, and put yourself right on the battleground with the action happening around you.
I’m super excited that vision is becoming a step closer to reality with new and emerging metaverse environments where live virtual media, entertainment, gaming, communication, avatar and presence becomes real.
We may be looking at a half trillion-dollar market opportunity in the next decade, all powered by Theta decentralized protocol and technologies.
Community response: In case you missed it, CEO Mitch and CTO Jieyi w the team Theta Network have been working on the metaverse for the past 5 years. And doing an amazing job of it btw, congrats.
Can assume they are behind Facebook now? Explain? Facebook should announce some sort of partnership with Theta. It’s still not obvious to the public.
Need some energy drink to pump Theta.
The medium blog of Theta Network States, “Metaverses, virtual worlds where large numbers of users can interact with each other, weren’t created last month when Facebook renamed itself ‘Meta’.
The concept originally comes from Neal Stephensen’s cyberpunk classic “Snow Crash’’, broke new ground in the early 2000s in the game Second Life, and has been a significant focus of the blockchain space for several years now. From Decentraland to The Sandbox, blockchain has allowed metaverses to become more decentralized with transactions, video and data transfer and delivery outside of centralized rails.
While metaverses and metaverse-based “virtual live” events and gaming are continuing to grow, Theta is the key infrastructure to power them across the technology stack.
Their high concurrent user counts are ideal for the P2P video and data delivery, which showcases the need for Theta protocol.
Therefore, metaverses which were much about the future of media and entertainment including gaming will happen, they are set to be the key frontiers for expansion of the Theta ecosystem.
The key components in the Metaverse like rendering VR worlds in real time, Theta video API to be used as building blocks to integrate videos in to metaverses, decentralized video distribution to relay metaverse video between users, and video based NFTs which capture meaningful moments in the metaverse are all those that the Theta team have been building over the years.
When all these elements are combined in to a suite of decentralized service, Theta network will become an essential building block for the development of the metaverse.
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