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Theta Drop Marketplace Review: An Entertainment Platform With Quality NFT Collections

Review Updated
Lyle Daly
Author: Lyle Daly
Lyle Daly
Lyle Daly
Writer

Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. His work with Motley Fool Money and The Motley Fool has appeared syndicated in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.

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Theta Drop provides a unique selection of NFTs from partners that include musicians, sports organizations, artists, crypto influencers, and much more. The platform makes it quick and easy to buy NFTs, and it accepts both cryptocurrency and card payments. Read our full Theta Drop marketplace review to see if you should sign up.

Ratings Methodology

Theta Drop

Theta Drop
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor

Types of NFTs

videos, music, images, redeemables

Fees

10% service fee for sellers, $25 or 0.3 TFUEL withdrawal fee

Blockchain

Theta Network

  • Services

    Buy, sell

    Supported Wallets

    Theta Wallet

    Payment Methods

    Theta Fuel (TFUEL), credit cards
    • Buy and sell NFTs
    • Unique redeemable NFTs
    • Beginner-friendly design
    • Accepts crypto and cash
    • Expensive fees
    • Limited selection
    • Partnership required to upload NFTs

  • This NFT marketplace opts for quality over quantity, with fun digital assets from big-name partners. It's primarily for buyers, as sellers pay a hefty fee and need to be approved by Theta Drop to upload their own NFTs

Full Theta Drop marketplace review

This NFT marketplace is a good fit for: Entertainment enthusiasts looking for NFTs from popular artists and well-known brands.

What is Theta Drop marketplace?

Theta Drop marketplace is an NFT marketplace that's part of the Theta Network, a video and entertainment blockchain. The platform's partners offer drops (NFT collections). These can include various types of NFTs, including videos, photos, music, and redeemables, which are NFTs the buyer can redeem for a physical item or real-world experience.

Theta Network has dozens of partners, including:

  • Katy Perry
  • Samsung
  • World Poker Tour
  • Resorts World Las Vegas
  • Pittsburgh Knights

Top perks

Buy and sell NFTs

You can buy and sell NFTs offered by Theta Drop's partners on its marketplace. It has NFTs for any budget, as there are pieces available at prices ranging from under $10 to over $5,000. Theta Drop does tend to be on the more selective side compared to other major NFT marketplaces, but it has new drops regularly.

COMPARE TOP PICKS: Best NFT Marketplaces

Unique redeemable NFTs

One of the cool things about Theta Drop is its redeemable NFTs. A redeemable is an NFT that you use for a physical item or an experience. For example, Theta Drop has offered redeemables that buyers can redeem for props from Katy Perry performances and toy capsules. There have even been redeemables that entitle the buyer to be added as a character in a comic series.

Beginner-friendly design

The best NFT marketplaces are easy to use, and Theta Drop fits that description. Everything is straightforward, and new users can quickly browse the marketplace, create an account, and buy NFTs. Another plus from a usability perspective is that Theta Drop includes prices in both U.S. dollars and cryptocurrency. Some marketplaces only provide the price in crypto.

Accepts crypto and cash

You can fund your account and pay for NFTs on Theta Drop using a credit card, debit card, or the platform's Theta Fuel crypto token. If you pay in Theta Fuel, you receive a 5% discount. While this cryptocurrency isn't widely available yet, you can get it on Crypto.com.

RELATED: Best Cryptocurrency Apps and Exchanges

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What could be improved

Expensive fees

Fees on Theta Drop are high compared to other NFT marketplaces. It charges a 10% service fee for selling NFTs. If you want to withdraw cash you've deposited to your account, there's a $25 withdrawal fee. The fee for withdrawing Theta Fuel is much lower, as that only costs 0.3 TFUEL tokens per withdrawal.

Limited selection

Theta Drop has a much smaller selection of NFTs compared to many of the market leaders. You would likely only want to use Theta Drop if you're interested in any of its partners. If you want a wide variety of NFTs from both large and small creators, then you probably need to go with a different platform.

Partnership required to upload NFTs

This marketplace currently only allows its branded partners to drop NFTs. If you want to launch your own NFT drop on Theta Drop, you need to complete an application. According to its current FAQs, Theta Drop will allow approved content creators to launch NFTs when it opens its general NFT marketplace (the marketplace that's available now is the beta version).

Minting NFTs on Theta Drop isn't available at the moment, and even when it is, it will require filling out a creator application. That's a notable disadvantage, considering how simple it is to mint NFTs on other marketplaces.

Alternatives to consider

Offer


Rating
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Commissions
$10 purchase minimum, other fees charged on a per-service basis. 0.0% - 0.40% maker-taker fees on Kraken Pro
0% commission, variable spread
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Platform features

The Theta Drop marketplace features a range of NFTs that are released in collections called drops. Here are all the key features for this platform.

Services

Theta Drop allows you to buy and sell NFTs. You can also upload your own NFT projects on Theta Drop, but only if you apply first and receive approval.

Blockchains

The Theta Drop marketplace is built on its own Theta Network blockchain. This blockchain uses the proof-of-stake model to validate transactions, which allows it to offer fast, efficient transactions that cost a fraction of a penny.

Supported wallets

Theta Drop uses its own NFT wallet called Theta Wallet. Your account on the Theta Drop marketplace serves as your wallet for depositing funds as well as buying, storing, and selling NFTs. You can access your wallet on the marketplace's web platform or by downloading the Theta Wallet mobile app.

Payment methods

Theta Drop accepts payments made with its Theta Fuel cryptocurrency or in U.S. dollars through credit cards and debit cards. There's a 5% discount on every purchase made with Theta Fuel.

Fees

Theta Drop charges a 10% service fee to sellers, which is deducted from the proceeds at the time of the sale. It also charges a withdrawal fee of either $25 or 0.3 Theta Fuel. The minimum withdrawal amounts are $50 or 100 Theta Fuel.

Is Theta Drop marketplace safe to use?

Theta Drop's security features make it a safe place to buy and sell NFTs. The platform offers two-factor authentication (2FA), which requires entering both your password and a code sent to your mobile device to access your account.

You have the option of turning 2FA on or off for logins. Theta Drop requires 2FA on withdrawals, so even if someone hacked your account, they wouldn't be able to withdraw funds without your mobile device.

To change the email address on your account, Theta Drop requires confirming a code sent to the old email address. This is done to prevent account takeovers.

Since Theta Drop only offers NFT drops from partners it approves, you're less likely to run into counterfeit NFTs. These are a big problem in the NFT industry, but Theta Drop's system of requiring an application for NFT drops makes it far less vulnerable.

Theta Drop marketplace is right for you if:

  • You're interested in checking out NFT drops from entertainment brands.
  • You want to buy NFTs in cash using your credit or debit card.