The video tracking and payment platform Replay has become one of the 25 official node validators on the Theta network. The news was shared through an official newsletter shared by Theta Labs on June 16. The platform will partake in Theta network block production through a dedicated Theta Validator Node.
The Theta blockchain protocol is the industry-leading blockchain solution for media and video content streaming. The network offers various services and solutions for video integration, streaming, and monetization, and it includes the Theta API, NFT DRM, Passaways, Rewarded TV, and many more.
Replay is an innovative solution for video tracking and payments on the Theta network. The project was developed to empower video content and owners by providing an easy-to-access way to enter the web3 economy. The cutting-edge solutions from Replay help reduce the friction involved in content monetization.
The consumption-based Replay model helps owners with efficient distribution and ensures transparency of viewership and performance. Replay is also working to create a new TNT-20 native token, RPLAY, to help decentralize its tracking and payment features. Replay services are currently found on the decentralized OTT platform Rewarded TV.
Apart from the RPLAY tokens and Rewarded TV integration, the payments platform takes the next big step and has entered block production on the Theta blockchain. The step would be crucial for this up-and-coming payments platform to establish trust among the Theta community and serve them better. And what’s more, this integration could expose them to new revenue streams, increasing the chances of user rewards.
When asked about this decision, Replay’s CEO Krish Arvapally stated that the team has chosen to build in Theta as it is the leading blockchain space for media and entertainment. He further added that the Theta Validator Node would be the next step in their expansion plans on Theta.
Thanks to Replay’s initiative, the number of node validators in the Theta ecosystem has grown to 25. The current group of validators in the network comprises a diverse group of organizations, investors, and community members. Along with Theta Labs, the list includes media companies like Samsung, Sony, Google, and CAA, crypto startups and exchanges like Replay, Binance, gumi Cryptos, and Blockchain, and Institutional investors like Sierra, DHVC, Heuristic Capital, Venture Reality Fund, and GFR Fund.
The list will likely grow as the network has already reduced the required stake to 200,000 THETA. It will be a great opportunity for community validators to get on board the Theta blockchain governance and diversify the list further. The network may further expand the validator nodes in the coming months.