Theta operates as a Layer 1 blockchain and decentralized infrastructure tailored for Video, AI & Entertainment applications. As a "dual network," Theta comprises two interconnected subsystems: the Theta Blockchain and the Theta Edge Network. The Theta proof-of-stake blockchain furnishes payment, reward, staking, and smart contract functionalities. Concurrently, the Edge Network facilitates the computation, storage, and delivery of video streams, AI tasks, and various scientific, simulation, and financial modeling use cases. Two native cryptocurrencies exist on the Theta blockchain: THETA, the staking and governance token, and TFUEL, utilized as gas for all transactions and on-chain smart contract interactions. The forthcoming Edge Network iteration, Theta EdgeCloud, stands as the pioneering hybrid cloud computing platform constructed on a fully distributed architecture, slated for launch later in 2024. Theta's Web3 infrastructure empowers media entities to drive incremental revenues, enhance user engagement, and explore novel Web3 business models. The Theta Video API and Theta Web3 Theater offer pre-built decentralized video API solutions for developers, presenting significantly reduced costs for video transcoding, storage, and content delivery, powered by patented Digital Rights Management technology. Furthermore, the Theta blockchain serves as the foundation for the ThetaDrop NFT marketplace, developed in collaboration with renowned brands such as Katy Perry, Samsung, Sony, American Idol, The Price is Right, and Taste of Home, aiming to revolutionize the digital collectibles sector. The enterprise validator and governance council of the Theta Network is spearheaded by industry giants like Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, and Blockchain Ventures, among others. Notable corporate investors include Samsung NEXT, Sony Innovation Fund, Bertelsmann Digital Media Investments (BDMI), and CAA. Theta benefits from the guidance of luminaries such as Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.