Theta NFT DRM technology launches, featuring debut partnership with OpenTheta
Today marks the launch of the first ever use of Theta’s new NFT DRM (Digital Rights Management) technology — unlocking a video Q&A session with OpenTheta and Theta Labs! For the next 24 hours you can purchase an NFT from OpenTheta for the nominal price of 1 TFUEL, which will be your ticket to unlocking the video Q&A when it’s released on May 10, coinciding with the debut of the new version of OpenTheta website.
NFT DRM represents a new way to return power to the content creators, by allowing them to direct control over their own content distribution. Unlike the DRM most people are familiar with, where a content publisher may arbitrarily revoke your access to content you already purchase, NFT DRM means your access to the content is verifiable and irrevocable on-chain in the form of an immutable NFT. It also means more protection for content creators, since they can verify that only people that acquired the appropriate NFT have access to the content represented by that NFT. In this initial example we set the price at 1 TFUEL so that anyone can afford to try out NFT DRM, but it’s easy to see how another creator could use this technology for virtual ticket sales, selling NFTs for $10 each as tickets to a livestream concert, or a promoter selling $100 NFTs to watch a heavyweight boxing match instead of traditional Pay Per View.
Documentation is now available on the Theta Docs site for anyone to start building with NFT DRM: https://docs.thetatoken.org/docs/theta-nft-based-drm
The OpenTheta NFTs will go on sale at 1pm Eastern Time today, May 9th. Minting will be open for 24 hours, after which time no more NFTs will be generated. At that time the stream will go live on OpenTheta and anyone with the NFT will be able to unlock and watch it. The NFTs for this video will also continue to be traded on OpenTheta for those who want to watch the video later and need the NFT to unlock it.
We look forward to the beginning of these NFTs minting shortly, and thank you in advance to everyone who participates in viewing the first-ever NFT DRM video, exclusively at OpenTheta!