ritestream partners with Planet Theta to screen films in the dating Metaverse

The partnership provides over 82,000 hours of ritestream licensed content for Planet Theta's exclusive virtual dating experience

NEW YORK, April 6, 2022 /PRNewswire/ -- Today, ritestream, the NFT film funding platform, partners with Planet Theta, the world's first virtual reality dating app, to show films and build lasting relationships in the Metaverse. The partnership enables couples to date and socialize from the comfort of their own home, utilizing Oculus and Steam VR headsets. Weeks' worth of butterfly inducing first dates can now be fit in to the space of a few hours.

In addition to strolling through enchanted forests, visiting art galleries, or having a coffee over a game of cards, Planet Theta users will now be able to sit back and enjoy a movie from ritestream's extensive bank of content.

The average movie theatre ticket cost in the U.S. has increased by 11 percent over the last 5 years. The price hike has compounded a Covid-hit industry, contributing to an exodus of moviegoers deserting cinemas across the country, with ticket sales in the U.S. declining from 1.4 billion in 2009, to 498 million in 2021. As movie theatres urgently rethink their offering, virtual dating cinemas provide a unique experience to connect with likeminded members.

Riaz Mehta, Founder and CEO of ritestream, comments: "We very much look forward to providing Planet Theta members with cinematic nights to remember, combining ritestream's revolutionary content platform with Planet Theta's vision of a virtual reality dating experience."

Riaz continues: "As the virtual dating scene expands in popularity, couples want new ways of interacting, and with nearly 20% of U.S. adults streaming movies every day, the partnership feeds a boundless demand for content."

Chris Crew, CEO of Planet Theta, comments: "Human connection is the bedrock of societal happiness, and the partnership between Planet Theta and ritestream heralds a revolutionary shift in the way prospective couples can connect."

Chris continues: "We are putting human connection at the forefront of dating again, so couples can step foot into Planet Theta and experience an exciting future of matchmaking."

About ritestream

ritestream is the platform for the creation and monetization of film and TV NFTs from allrites, the global marketplace. As a curated filmverse in Web3, it acts as a launchpad for film and TV content. The ritestream ecosystem encompasses an existing content marketplace for global film, TV, and live sports rights that provides streaming platforms flexible access to thousands of hours of content at a low monthly subscription fee. The ritestream launchpad provides creators with a revolutionary platform to fund, monetize and distribute content leveraging the technology of NFTs. The ritestream app provides a distribution mechanism for consumers to watch and interact with content, in addition to supporting their favorite celebrities and actors by purchasing limited edition NFTs. The entire ecosystem is fuelled by RITE coin, a native token used to invest in independent film projects, purchase NFTs and watch content. Consumers can earn RITE coins by rating content on the ritestream app.

About Planet Theta

Planet Theta is the world's first virtual reality dating app, creating real connections in a virtual world. Planet Theta is disrupting traditional dating apps by making dating easy. Go on weeks of first dates in only a couple hours. Take a walk through an enchanted forest, watch a movie together, or have coffee over a game of cards. These VR dating experiences are an opportunity for you to explore each other's personalities and passions. We are putting human connection at the forefront of dating again. Step foot onto Planet Theta and experience the future of dating.