TL;DR Breakdown
- ONE Championship joins hands with the Theta Network to further their interests in the NFT industry.
- The rise of NFTs has led to the development of a new NFT marketplace that will be a result of this new partnership.
NFTs or non-fungible tokens have been quite popular with several people around the world as the industry is already worth more than a billion dollars. There are plenty of firms looking to join the NFT frenzy and get their own NFTs made.
NFTs or non-fungible tokens are blockchain-based tokens that have the capability to grow in the future. These blockchain-based tokens represent audio, video, or images and are unique to their owner. The number of copies made can be sold by the owner to a fan or someone who is interested in their work.
A new NFT marketplace
The formation of the alliance between ONE Championship and Theta token for the formation of a new NFT marketplace will be a revolutionary step. ONE Championship has a distribution of 400 million users, and it currently serves in more than 150 nations.
The partnership will be carried out in the future as both firms have decided to help the fans benefit from the new NFT marketplace.
The aim of the two organizations is to capture global live entertainment and merge it with digital tokens in the form of NFTs. This would enhance the presence of both the companies in the market as the fans would be getting their favorites merchandise in the form of a digital asset.
Theta Labs have been on a roll recently as they had recently collaborated with Katy Perry as well.
