Phoenix Global Media Group’s AIR streaming platform has announced a strategic partnership with crypto-powered Theta Labs. The two firms want to roll out what they described as the globe’s first AI and blockchain-powered audio streaming service.
Based on the collaboration, the new product will integrate with AIR’s advanced AI technology and Theta’s Edgecloud infrastructure to provide immersive video and audio content to users. This innovation will provide users with a high and seamless personalized experience needed in the Web3 landscape.
The partnership will see the two firms develop special NFT offerings for entertainment events. By incorporating Theta’s EdgeCloud technology, AIR’s mobile apps will offer decentralized, high-quality content to more than 1.3 million daily users.
Theta Labs’ role on music streaming services
Theta Network, a decentralized, video streaming blockchain platform, is at the front line to empower artists and define the relationship between creators and fans. The platform is quite different from traditional digital streaming platforms like Apple Music, Spotify, etc.
Since it is a decentralized video streaming marketplace, it focuses on eradicating the layers of intermediaries that, in the past, have separated artists from their fans.
By using the Theta Network blockchain, the AIR streaming platform will offer an extraordinary level of transparency and direct relationship between artists and fans. Theta Network distinguishes itself from conventional streaming platforms by providing artists with higher control over their monetization strategies and content-making approaches.
The application of blockchain technology is key to the AIR streaming platform’s commitment to creating a transparent and open video/ music ecosystem. By capitalizing on blockchain, the platform is primed to address persistent issues in the music industry. Some of these challenges include like lack of direct relationships between artists and fans, opaque royalty systems, and many others.
THETA price analysis
Theta Network’s price has remained active due to its platform’s relevance, strategic partnerships, and ecosystem expansion. THETA price is surging because investors see its technology’s potential at a time when artificial intelligence (AI) and blockchain are doing well.
THETA is currently trading at $1.98, 21.70% up in the last seven days, outperforming the global crypto market, which is currently 1.50% up.
The reason THETA is doing well in terms of market performance is due to its robust relationships with major tech firms (like Sony, Samsun, Google, etc.) and also entertaining businesses (like MGM and others).
