Tencent Partners With Sliver.tv to Launch a Crypto-Powered eSports Channel
According to the announcement, which was covered by VentureBeat, the 24-hour, seven-day-a-week esports channel will be powered by Theta Tokens (THETA) and will feature streamers from FaZe Clan, Method, and NRG. The channel will also be home to a number of giveaways, predictive markets and other engaging content.
“We’re excited to be partnering with Sliver.tv and bringing unique Theta rewards to Ring of Elysium players,” said Tencent Games in a statement. “We want viewers to be able to become part of the esports experience, and will be able to do so with the interactive esports channel with Sliver.tv.”
The partnership will also bring unique in-game items that can be purchased with THETA, in addition to discounts on real-world products from sponsors.
Ring of Elysium, a free-to-play game developed by Tencent Games, was released on Steam in North America and parts of Asia on September 19, 2018, as an early access game. The game features 60-player combat with an encroaching map, similar to other battle royale games.
Theta Network, which is driving the technical side of the partnership, is developing a protocol to incentivize individual users to share redundant computing and bandwidth resources to act as caching nodes for video streams. By doing so, Theta aims to build a system that improves streaming delivery while reducing CDN bandwidth costs, a major drag on video streaming websites.
Through this approach, Theta ultimately plans to develop a lower-cost video streaming system that opens up unique opportunities for both content creators and advertisers.
Despite the positive news, THETA is currently down over 19% Tuesday to $ 0.0489, giving the project a $34.5 million market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.