LA-based talent and sports agency Creative Artists Agency (CAA) recently joined blockchain-based video delivery network Theta, as announced in a press release on Thursday.
CAA will be working together with major private equity, cryptocurrency firms and seven other external Theta Enterprise Validator and Governance Council members, such as Google, Samsung and Sony.
As part of the network, CAA will operate a validator node and help guarantee the network’s robustness.
Theta aims to provide video platform clients a way to earn more revenue and lower delivery costs. Users can be rewarded for sharing bandwidth to help relay video on a peer-to-peer basis. It also has ThetaDrop, a non-fungible token (NFT) marketplace.
“We believe that blockchain technology and the rise of digital collectible NFTs will bring unprecedented opportunities to our family of storytellers, trendsetters, icons and thought leaders in the entertainment industry”, said Michael Yanover, Head of Business Development at CAA.
“With CAA on board over half of our validators are now run by external partners advancing us closer to full decentralization,” said Mitch Liu, CEO and Co-founder of Theta Labs.
According to CoinMarketCap, the market cap of Theta’s native token TFUEL is currently around $1.6 billion.
CAA has a client list consisting mostly of A-listers like Emily Blunt, Gerald Butler, Ed Sheeran, Cristiano Ronaldo and Simon Cowell. It is regarded as a powerhouse in the talent agency business.