Theta Network (THETA)

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Historical price evolution of Theta Network

Daily historical data. Updated automatically.

Theta Network has its roots in September 2015, when Mitch Liu and Jieyi Long co-founded SLIVER.tv, an esports streaming platform with 360 VR video technology that would become the predecessor to THETA.tv. In July 2017, both founders established Theta Labs as a subsidiary of Sliver VR Technologies, with the specific objective of building a blockchain for decentralised video delivery. One month later, in August 2017, SLIVER.tv closed a Series A round that raised $9.8 million, with Samsung and Sony as principal investors.

The development of the blockchain ecosystem materialised in December 2017 with the launch of the THETA token as an ERC-20 on the Ethereum network. In January 2018, the private token sale was executed, distributing 300 million tokens at $0.15 each and raising a total of $20 million. The 15th March 2019 marked an important milestone with the launch of Mainnet 1.0, introducing the native THETA and TFUEL tokens, where THETA holders received TFUEL at a rate of 5 TFUEL for each THETA in their possession.

In May 2020, the network evolved with Mainnet 2.0, which introduced community Guardian Nodes and EdgeCast technology for decentralised peer-to-peer streaming. During this period, Theta Labs announced that Google had joined as a network validator. On the 16th April 2021, THETA reached its all-time high of $16.17, at which point the Edge network had 30,000 active nodes. In June 2021, Theta Labs established a partnership with Katy Perry to launch NFTs linked to her Las Vegas residency on ThetaDrop, the network's own NFT marketplace, where the singer received $8.5 million and warrants in exchange for licensing her image.

July 2021 brought Mainnet 3.0, incorporating Turing-complete smart contracts, staking and TFUEL burning functions, as well as the launch of ThetaSwap, the network's first decentralised exchange. In April 2022, the Theta Metachain concept was presented, an interconnected blockchain network designed for unlimited horizontal scalability. On the 1st December 2022, Mainnet 4.0 was launched with Theta Metachain active, achieving block finalisation in 1-2 seconds. In January 2023, EdgeStore was launched in alpha version, Theta's distributed storage system.

In September 2023, the USPTO granted Theta Labs the patent for its blockchain-supported edge computing platform with smart contracts, an application that had been submitted in 2021. The 1st May 2024 marked the launch of Theta EdgeCloud, the first hybrid cloud-edge platform for artificial intelligence, video and rendering, providing access to approximately 80 PetaFLOPS distributed across more than 10,000 nodes. In September 2024, mobile Edge Nodes were integrated with Android devices, extending the computing network to mobile terminals.

On the 17th December 2025, Jerry Kowal, former content director, and Andrea Berry, former business development director, filed whistleblower lawsuits with the Los Angeles Superior Court against Theta Labs and its CEO Mitch Liu. The lawsuits allege manipulation of the THETA token price through deceptive partnerships, undeclared internal token sales and artificial bidding in the NFT marketplace, including Katy Perry's NFTs. Insider trading prior to the announcement of the agreement with MGM Studios in 2020 is also alleged, after which THETA's capitalisation rose more than $50 million in 24 hours. Theta Labs, Liu and Sliver VR Technologies deny the facts and declare their intention to refute them with evidence.

Theta Network functions as an independent layer 1 blockchain that implements a dual token system to separate governance and operational functions. THETA serves as the governance token and enables participation in validator and guardian node staking, whilst TFUEL acts as the network's operational fuel, paying for transactions, smart contracts and rewarding node operators. The supply of THETA is capped at 1,000 million units without possibility of expansion, establishing a fixed ceiling for this token.

The consensus mechanism is based on Multi-Level Byzantine Fault Tolerance (BFT) that operates on two hierarchical levels. On the first level, between 20 and 30 Enterprise Validator Nodes operated by companies such as Google, Samsung, Sony and Binance are responsible for proposing and finalising blocks. The second level is formed by thousands of community Guardian Nodes that require a minimum of 1,000 THETA in staking and act as an additional security layer sealing blocks already processed by the enterprise validators.

The network incorporates Theta EdgeCloud, a hybrid cloud-edge platform launched in 2024 that aggregates the GPU processing capacity of more than 10,000 globally distributed nodes, reaching approximately 80 PetaFLOPS of computational power. This infrastructure combines with cloud services from partners such as Google Cloud to execute generative artificial intelligence tasks, video transcoding and 3D rendering. Elite Edge Node operators receive TFUEL as compensation for completing these computational tasks. The blockchain is compatible with the Ethereum Virtual Machine (EVM), enabling the deployment of decentralised applications and TNT-20 tokens on the Theta network.

Data verified against external sources. Some values may have changed since the last update.