Thursday, December 8, 2022

American Idol Will Launch Time-Predictive NFTs With Theta Labs

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American Idol will launch time-predictive NFTs with the help of Theta Labs the pack will go for $99 and collectors will get the NFT representing one of the top 14 contestants so let’s find out more about today’s latest cryptocurrency news.

American Idol will launch time-predictive NFTs and will commemorate the 20th season and two decades of airing in the US. The press release unveiled the news on April 14 noting that the program seeks to launch the NFTs in the form of contestant-based trading cards and American Idol partnered with Theta Labs to help it with the initiative. According to the press release, the collectors and the show’s fans are going to be the ability to access the American Idol NFT Card pack on Theta Network’s eco-friendly and low-cost marketplace ThetaDrop. The pack goes for $99 and the collectors will get the NFT card representing one of the top-14 contestants.

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He pointed out that the Theta-powered NFTs will enable fans to go even further than voting for the contestants to virtually become judges. Liu also added that the NFT will let them celebrate with their favorite contestants and collect rewards as they go further from qualifying the round to the finals. The ultimate prize is an NFT which can be redeemable for a Hollywood ticket. As the contestants get eliminated during the five-week season, the collectors that have a stipulated number of cards will earn one of a kind reward. The first week of rewards will start on April 25 and the collectors which hold the NFTs as one of the remaining contestants will win the American Idol 20th Anniversary Animated Logo NFT and the second week of rewards will see these collectors with the two NFTs of the remaining competitors win $300 worth of $TDROP that will be deposited in the ThetaDrop accounts.

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In the third week, the collectors which own four NFTs of contestants that survived the elimination rounds earn VIP Bronze benefits for the ThetaDrop accounts. In the last episode of the season, the collector holding the NFT of the winner will get an exclusive Winner Ticket to Hollywood NFT and the user can also redeem the NFT into a physical ticket to Hollywood which is the American Idol will deliver to their homes. The Executive Producer Megan Michales Wolflick noted:

“At American Idol, we are constantly challenging ourselves to be on the forefront of innovation. With interactive NFT trading cards celebrating our 20th season, fans will be able to immerse themselves even more into the Idol experience, as they collect their favorite contestants’ cards, and follow their progress throughout the competition.”

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