Theta operates as a Layer 1 blockchain and decentralized infrastructure tailored for Video, AI & Entertainment applications. Comprising a "dual network" framework, Theta consists of two complementary subsystems: the Theta Blockchain and the Theta Edge Network. The Theta proof-of-stake blockchain facilitates payment, reward distribution, staking, and smart contract functionalities. Meanwhile, the Edge Network handles the computation, storage, and delivery of video streams, AI tasks, and various scientific, simulation, and financial modeling tasks. Within the Theta blockchain ecosystem, there exist two native cryptocurrencies: THETA, serving as the staking and governance token, and TFUEL, utilized as gas for all transactions and on-chain smart contract interactions. Scheduled for launch later in 2024, the forthcoming Theta EdgeCloud represents a next-generation hybrid cloud computing platform, distinguished by its fully distributed architecture. Theta's Web3 infrastructure empowers media companies to augment revenues, enhance user engagement, and explore novel Web3 business models. Offering turn-key decentralized video API solutions, such as Theta Video API and Theta Web3 Theater, developers can benefit from significantly reduced costs for video transcoding, storage, and content delivery, supported by patented Digital Rights Management technology. Underpinning the Theta blockchain is the ThetaDrop NFT marketplace, a collaborative effort with renowned brands including Katy Perry, Samsung, Sony, American Idol, The Price is Right, and Taste of Home. This initiative aims to revolutionize the digital collectibles industry. Overseeing Theta Network's enterprise validator and governance council are industry giants like Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, Blockchain Ventures, and others. Notable corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), and CAA. The project benefits from the guidance of advisors such as Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.