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Saturday, February 4, 2023

Sony Partners With Theta Labs to Launch 3D NFTs for Its Spatial Reality Display

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Sony Partners With Theta Labs to Launch 3D NFTs for Its Spatial Reality Display – Theta Labs and Sony Group Corporation have announced a partnership to launch 3D non-fungible token (NFT) assets. The future NFTs are developed for three-dimensional viewing and will be made for the Sony Spatial Reality Display.

Sony, a Japanese multinational conglomerate, is collaborating with Theta Labs, the Theta blockchain’s inventors. Theta is a decentralized video streaming network or video distribution network which has its own native crypto currency, theta network (THETA). According to a news report, the electronics giant wants to release ten “Tiki Guy” NFTs, as well as two-dimensional variants.

Also Read: Senator Elizabeth Warren Demands Answers From Fidelity for Allowing Bitcoin in Retirement Plans

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The NFTs are being developed for the Sony Spatial Reality Display (SRD), a tablet that uses augmented reality and 3D upgrades. The SRD gadget and the aforementioned technologies are demonstrated in a video posted on Sony’s official YouTube channel.

According to Sony’s video description, “our legacies of cutting-edge visual and spatial realities mix in an astonishing 3D optical experience where rich texture, great contrast, and dazzling brightness come together to create a portal to another world.”

SRD intends to include NFTs and metaverse concepts in the device’s features, while Sony’s VP of business development, Nick Colsey, believes NFTs will improve the experience. In a statement, Colsey stated, “immersive, three-dimensional NFTs are a perfect way to highlight the potential of Sony’s Spatial Reality Display for metaverse fans and collectors.”

The collaboration between Sony and Theta Labs followed the Theta Hackathon two weeks ago and Bridgetower Capital’s launch of a Theta Enterprise Validator Node. Since April 16, 2021, theta network (THETA) has lost 86.1 percent of its value versus the US dollar.

Also Read: Spanish Securities Regulator Orders Binance to Stop Offering Cryptocurrency Derivatives

THETA has dropped 33.7 percent in the last month, according to 30-day data. Theta network is the 14th largest in terms of sales volume among the 17 blockchains that issued NFTs. In total, Theta has sold $14.74 million worth of NFTs through 1,159 sellers, 1,279 buyers, and 8,165 transactions.

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