The native token of Theta Network, THETA, has recovered some losses from the current crypto bloodbath that many cryptos are currently trying to recover.

THETA traded at $1.23 as of the writing date, an increase of 14.65%. It reached a daily high at $1.37.

Let’s dive into the reasons behind the THETA price pump.

THETA is a partner with Sony Electronics

The main reason for the token rally was the announcement by Theta network about their new partnership and collaboration with Sony Electronics, an internationally recognized tech company.

Spatial Reality Display announced that it will be releasing a 3D NFT on ThetaDrop. Tomorrow’s drop will take place at 1pm PT. However, pre-funding is available and waitlist is already in place.

We are pleased to partner with @SonyElectronicsSpatial Reality Display will release the first 3D model #NFTThetaDrop!

Drop Starts Friday, June 17 @ 1pm PT

Prefunding and waiting list available now

View Drop: https://t.co/imWMJxNbBQ pic.twitter.com/QBhBwtFnDf

— ThetaDrop (@ThetaDrop) June 15, 2022

According to the announcement, The Tiki Guy NFT will be a 3D asset that SONY’s limited electronic display will project, besides the NFT was made to be more frightening as possible. According to the website, 500 copies of the Tiki Guy NFT are available.

Meanwhile, ThetaDrop NFT Marketplace had earlier hosted drops for some of the prominent game shows and celebrities like the ‘American Idol and many more.

Replay launches Theta Validator node

Replay, which is a video-tracking and payment platform, announced that it has launched its Theta Validator Node. This will be one the 25 official validators of Theta nodes.

Theta Validator is continuing to investigate the cross-section used by different users. Many media firms and tech giants like Sony, Samsung, Google, and Google are among their top validators. Additionally, it includes projects and Crypto exchanges like Gumi cryptocurrencys, blockchain, Binance and others.