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B- Investment Grade

THETA DIGITAL ASSET REPORT

Summary

The Theta Network is a blockchain platform and open source infrastructure for decentralized video streaming applications. The Theta Labs team wants to deliver faster, cheaper and better quality video to users all across the world and see blockchain technology as the best way to do so. The project began in 2017 with a private token sale, raising a total of $20M. Since then, the project successfully launched their testnet, mainnet, and first application (Sliver.tv). If the project continues on its current trajectory, Theta could become a valuable player in the blockchain-based content delivery market and potentially compete with traditional platforms.

Centralized online video platforms such as Twitch, Youtube and Facebook are struggling to meet the growing demand for online video streaming with their current infrastructure – data center and Content Delivery Networks (CDNs). These problems are most prominent in the developing world where digital infrastructure is not optimised and content delivery is difficult. These technical challenges are set to further intensify as demand for 4K, 8K and Virtual Reality streaming increases over the next decade. Furthermore, these same platforms are at-odds with content creators who complain that they are charged unreasonable royalty fees for the maintenance and use of the platform. For example, Youtube charges 45% royalty fees on advertisement revenue, while Twitch charges 50%.

Theta Network aims to compete with traditional data centers and CDNs by leveraging the collective computer power and bandwidth of users. Users earn cryptocurrency rewards for sharing bandwidth and computer resources with the rest of the network. These resources facilitate high quality video streaming to other users while simultaneously reducing the cost of video delivery, relative to traditional methods.

Additionally, the team has built out a thriving ecosystem with top quality partners, advisors, investors and active community members. Consequently, Theta can leverage its existing network of advisors and partners to further drive future adoption.

Despite this, there is one major challenge that must be tackled for The Theta Network to reach full adoption – decentralization. It seems as though the Theta Labs team traded off decentralization in the short term in order to achieve speed and security. Which to be fair is not abnormal for such a young project. Its important that where possible centralization of power over the network by Theta Labs be minimized and distributed instead to the community as well as partners.

In general however, The Theta Network has a good chance to grow and prosper along with demand for blockchain video streaming, which is expected to rise substantially over the next decade.

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CONVEX PICK OF THE MONTH REPORT: CVX

Summary

Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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