So, what is THETA token and subsequently the Theta Network itself?
According to their website, Theta is a new, native blockchain purpose-built to power decentralized video delivery.
Founded by Mitch Liu and Jieyi Long with advisors like YouTube alum Steve Chen, the Theta Token (THETA) has a total supply of 1,000,000,000 THETA.
A private Theta initial coin offering sale was held in January, 2018, and raised approximately $20 million worth of ETH (at the time).
In practicality, Theta Network is a sharing-economy video delivery platform. Participants can earn token rewards for sharing videos with others. Also, you can opt-in to allocate any spare bandwidth you have and provide video streaming bandwidth in exchange for earning “fuel”