Theta Drop NFT Marketplace Review?
The Theta Drop NFT platform was released in 2021. The marketplace opened with the World Poker Tour digital collectables. It is built on the Theta Network; a blockchain network designed specifically for media and entertainment. The platform operates under the legal entity, Theta Labs Inc which is registered in Cupertino, California.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Theta Drop NFT Marketplace Focus
The main focus of Theta Drop NFT Marketplace is the esports, gaming and entertainment industry. Theta Drop is a real-time NFT marketplace i.e. NFT drops and auctions are streamed live. This unique feature is aimed at increasing user engagement on the platform. It also has tie-ups with cable broadcasters as well as live televisions for broadcasting these live streams.
Theta Drop NFT Marketplace Fees
When you make a trade at any NFT trading platform, they may charge you a commission. This commission is normally a percentage of the sale amount in the relevant trade.
We could not find any mention of a commission charged by Theta Drop. However, transactions may attract a gas fee.
Layout of Theta Drop NFT Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from Theta Drop NFT Marketplace:
Theta Drop NFT Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal deposits.
Theta Drop accepts deposits from Credit Card but does not support PayPal.