Tuesday, October 4, 2022
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Katy Perry’s second NFT will be released on Theta

Celebrities are increasingly jumping into the NFT industry. Following the popularity of her first NFT collection, which debuted in December of last year, worldwide music artist Katy Perry is launching a second collection of NFTs today on Theta Network. The collection will be influenced by her 2017-2018 Witness Tour. The drop will take place on March 4th at 1 p.m. PST.

Perry’s first collection resulted in $1.2 million in primary sales and $860,000 in secondary sales, with over 6,500 unique purchasers participating. According to the press release, there will be more Katy Perry NFT releases this year.

Theta (THETA) Network’s NFT marketplace, ThetaDrop, is powered by the Theta protocol and a native blockchain that is fundamentally different from existing NFT platforms since it was intentionally developed for media and entertainment, according to the press announcement. On the Theta Network, the cost of minting NFTs and gas costs are much cheaper, and transaction speeds are 100x quicker than on Ethereum.

Theta’s distributed network of more than 100,000 worldwide community-run edge nodes has grown rapidly since the release of the Theta Mainnet 3.0 protocol update last year. People will be able to store their NFTs on edge nodes instead of relying on a single platform in the future. This way, people will be able to own and control their NFTs instead of relying on a single platform.

Cross-chain bridges between Theta Network, Ethereum (ETH), and other blockchains will also allow NFT transfers between markets, including the Ethereum-based Opensea, Nifty Gateway, and others.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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