Theta Labs and the NHL’s Vegas Golden Knights announced a partnership on Jan. 16 that will introduce new NFT-based fan experiences.

Mitch Liu, co-founder and CEO of Theta Labs, said:

“The world of sports is evolving, and we are at the forefront of this change with the Vegas Golden Knights. Our vision extends beyond offering unique experiences to broaden the team’s reach … This strategy is transforming the very essence of fan interaction, paving new paths for monetization, and reshaping the global sports landscape.”

The remainder of the press release indicates that the Vegas Golden Knights will launch a series of NFTs on the ThetaDrop NFT marketplace.

Fans will be able to claim those NFTs online and in-person during certain Golden Knights home games for free. Those NFTs will unlock access to game tickets, autographed memorabilia from team members, and VIP moments including photo ops and press conference admissions. One specific opportunity includes access to a 75-guest private viewing lounge on the Las Vegas Strip.

The Golden Knights are notable for their 2023 Stanley Cup victory, establishing the team as last year’s NHL Champions. The partnership aims to captivate the Golden Knight’s fan base and introduce new methods of monetization for the sports industry, according to the latest press release.

Theta is among the top 75 crypto projects

Theta Labs is a blockchain and Web3 project that provides a next-generation video, AI, and entertainment platform. The project has obtained partnerships with various firms including Samsung, Fuse Media, and Google Cloud.

The platform’s most active apps include decentralized token swaps such as ThetaSwap, and NFT marketplaces such as OpenTheta and ThetaDrop.

The THETA token currently has a market cap of $1.08 billion, making it the 72nd largest cryptocurrency by market cap, according to CoinGecko. The asset is up up 3.5% over 24 hours, slightly outperforming the crypto market’s 1.3% gains.