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Play Labs Nets Support From Theta Labs In New Strategic Partnership

Startups including those related to VR and AR set to benefit at the MIT-based event.

Play Labs, the incubator/accelerator for startups related to blockchain, virtual reality (VR) and augmented reality (AR), as well as other areas such as eSports and Artificial Intelligence (A.I) has revealed a new strategic partnership with Theta Labs, a subsidiary of interactive eSports live streaming platform SLIVER.tv. A name showing up more and more on VRFocus.

As part of this partnership, the forthcoming Summer 2018 sessions from Play Labs, hosted on the campus of the Massachusetts Institute of Technology – better known as MIT – by the MIT Game Lab, will be sponsored by Theta Labs.  Theta Labs is itself a blockchain related project “creating a decentralized, user-powered video mesh network. Theta aims to provide higher quality streaming around the world while lowering costs for content delivery and helping content creators capture more of their advertising revenue”.

The sponsorship, however, looks set to benefit all creators at the event, which is expanded its focus this year particularly with blockchain, VR and AR in mind. Play Labs is dedicated to helping startups off the ground that utilise “playful technology”, providing them not just funding and facilities but also guidance. Such guidance comes from mentorship by MIT staff and successful entrepreneurs, often including MIT alumni. Startups will now be able to include ‘the Theta protcol’, as it is referred to, in their projects. Helping with plans for video streaming, music, entertainment, eSports and other media applications and which will also benefit both content acquisition and project costs. Theta Labs CEO Mitch Liu, himself an MIT alumnus, will become a blockchain mentor in the Play Labs program as well

“As we roll out the Theta protocol, we are already seeing applications across many industries – esports, entertainment, training, music and more,” said Mitch Liu, CEO and founder of Theta Labs, Inc. “We are looking to partner with great institutions around the world, and as an MIT alum myself, I believe that the innovative startups from the MIT ecosystem like those in Play Labs are terrific partners to invent new and value-driven applications for this powerful innovation.”

Virtual Reality

“A new decentralized video streaming architecture like Theta’s can be very disruptive to the entertainment and live streaming industries, especially when considering the surge in video content coming with the rise of esports, VR, 8K and more.” Adds Executive Director of Play Labs, Riz Virk. “Both streaming and blockchain are key technology areas for Play Labs this year and we look forward to fostering an ecosystem that delivers real value.”

“We are excited to see new innovations with blockchain beyond cryptocurrency,” said Rik Eberhardt, Studio Manager for the MIT Game Lab. “And we’re are very interested in what new applications Theta Labs and our startups come up with this summer!”

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