THX Network

What THX Network does

THX Network was a Dutch blockchain infrastructure provider, incorporated as THX Network B.V. in November 2021, that enabled game studios and fintech apps to embed quest and reward campaigns directly into their products via a Polygon PoS-based protocol. The platform offered pre-built quest types spanning daily, invite, social, Twitter/X, Discord, Web3 (coin/NFT ownership), Steam achievements, and custom webhooks, with reward mechanisms including ERC-20 coins, ERC-721/1155 NFTs, coupons, and Discord roles. These capabilities were exposed through an embeddable HTML widget, a JavaScript SDK (@thxnetwork/sdk), and an OAuth2 REST API, built on audited Balancer ve8020 smart contracts, Safe-based smart wallets (upgraded August 2023), and an $THX ERC-20 utility token with vote-escrowed (veTHX) governance.

The commercial model charged campaign managers a fee split 30% to a company-controlled Safe (subscription fee) and 70% to the protocol as Balancer liquidity, with 80% of protocol fees routed to veTHX holders and 20% to campaign participants. Founded in 2020 by Peter Polman (CTO) and Mieszko Czyzyk (CEO), both ex-Open Social, the company secured two EU Horizon 2020 grants (Blockpool agreement 82888 in 2021 and Block.IS agreement 824509 in late 2021/early 2022), joined the Techstars 2022 cohort, and pivoted toward gaming rewards. By February 2024, the platform reported peak MAU of approximately 10,000 (stabilizing around 7,500), 25+ active domains, and notable customer relationships including Gala Games, Chrono Games (Forest Knight), Royal Dutch Mint (4,000-piece "Free a Girl" NFT coincard, November 2023), and a UNDP proof-of-concept that processed over 70,000 transactions for 3,000+ users in 2021.

Following a community vote to unwind its veTHX tokenomics, THX Network officially shut down operations on February 1, 2025, distributing approximately $50,000 in residual USDC proportionally to 795 remaining THX token-holder accounts, with the Discord community channel remaining active through July 31, 2025 for shutdown support.

Name

THX Network

Legal name

THX Network B.V.

Website

https://thx.network

Company type

Private

Founded year

2020

Operating status

Closed

Headcount range

1–10 employees

Short description

THX Network was a Dutch blockchain infrastructure provider that enabled game studios and fintech apps to embed quest and reward campaigns directly into their products via Polygon-based smart contracts; the company shut down operations on February 1, 2025.

Ownership category

akta.pro rank

Product category

Loyalty & Rewards Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Play-to-Earn & Reward Platforms (questing, loyalty, airdrop mechanics) (FSAPAGAH)

akta.pro secondary industries

Blockchain Game Studios & Game Development (FSAPAGAC), In-Game Asset Standards & Infrastructure (NFT items, marketplaces, royalties, asset registries) (FSAPAGAE), Player Wallets, Identity & Accounts for Games (embedded wallets, SSO, DID) (FSAPAGAF), GameFi Economies & Token Systems (tokens, staking, sinks/sources, inflation control) (FSAPAGAG), DePIN Payments, Incentives & Reputation (token incentives, staking/slashing, QoS/reputation, settlement) (FSAPALAL)

Keywords

• Quest reward platform
• Gaming loyalty infrastructure
• Blockchain engagement SDK
• Embedded campaign widget
• Digital collectible distribution

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Campaign Manager Fees (Subscription + Protocol Fees): For every 100 USDC paid by a campaign manager: 30 USDC is the Subscription Fee retained by the company Safe for centralized infrastructure and the front-end; 70 USDC is the Protocol Fee provided as liquidity to the 80THX-20USDC Balancer pool to mint BPT, of which 80% flows to veTHX holders (Protocol Incentives) and 20% to campaign participants (Participant Incentives). Recurring per active campaign.
2. Beta-Phase Protocol Fees from Quests / Tokenized Asset Redemption: Deprecated during beta: each Campaign Safe generated fees when quests transferred ERC-20 tokens or when tokenized assets were redeemed, collected via the Fee Collector contract on Polygon (0x802505465CB707c9347B9631818e14f6066f7513). Superseded by the updated veTHX fee model.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels11 records

Core offering

THX Network operated a quest-and-reward campaign platform that game studios and fintech apps could integrate via an embeddable HTML widget, a JavaScript SDK (@thxnetwork/sdk), or a REST API to launch multi-channel quests (daily, invite, social, Web3, Steam, custom webhooks) and distribute ERC-20 coin rewards, ERC-721/ERC-1155 NFTs, Discord roles, coupons, and custom webhook rewards. The platform ran on Polygon PoS with Safe smart wallets and a $THX ERC-20 utility token, and was shut down on 1 February 2025 following a community vote to unwind the veTHX tokenomics.

Differentiator

Problem solved

Functional benefit

Products and services

• THX Campaign Manager Platform SaaS campaign-management platform that lets game studios, fintech apps, and brand operators configure multi-channel quests (Daily, Invite, Twitter/X, Discord, Web3, Steam, Custom webhooks) and distribute rewards (ERC-20 coins, ERC-721/1155 NFTs, Discord roles, coupons, custom webhook rewards), with built-in analytics, participant explorer, and signed webhooks.
• $THX Utility Token Ethereum-native ERC-20 utility token (Polygon PoS deployment) used to access the campaign platform, stake into veTHX governance, qualify for membership tiers (Rookie through Legend), and claim Protocol and Participant Incentives on the 80THX-20USDC Balancer pool.

Quantifiable outcome

• Peaked at ~10,000 MAU and stabilized at ~7,500 MAU (Feb 2024)
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

16 partnerships are on record, tiered flagship, core and minor.

• BalancerflagshipTechnology or IntegrationTHX Network's veTHX staking and lock system is built directly on Balancer ve8020 smart contracts; the 80THX-20USDC pool (0xb204bf10bc3a5435017d3db247f56da601dfe08a) is the primary liquidity venue. Balancer has completed audits with Certora, OpenZeppelin, Trail of Bits and ABKD. Balancer's Immunefi bug bounty (max 1,000 ETH) underpins security guarantees.
• Safe (Gnosis Safe)coreTechnology or IntegrationSmart-wallet architecture upgraded to Safe in August 2023 (MVP v2). Token allocations for THX Network are held by a 4-signer Gnosis Safe (3-of-4 multisig) for treasury security. Nearly all users transitioned to the new Safe-based wallets after the upgrade.
• Polygon (Polygon PoS)flagshipTechnology or IntegrationPrimary deployment chain for THX Network contracts, including the veTHX Vote Escrowed 20USDC-80THX-gauge at 0xE3B8E734e7BCcB64B63e032795896CC57012A51D. THX tokens and BPT are traded on Balancer and Quickswap on Polygon PoS.
• Aura FinancecoreTechnology or IntegrationTHX token liquidity-mining integration on Aura (Polygon), where ~80% APR was advertised to liquidity providers alongside the ~30% on Balancer and ~100% inside the THX Network App.
• QuickswapcoreTechnology or IntegrationDEX used by THX Network for THX/MATIC liquidity and as a documented purchase route for $THX on Polygon. A 50/50 THX/stMATIC Balancer pool proposal was discussed on the governance forum.
• Snapshot (snapshot.org)flagshipTechnology or IntegrationSnapshot (thxprotocol.eth space) is THX Network's primary gasless on-chain governance voting surface, used for veTHX parameters, treasury proposals (e.g., the veTHX unwind), and Snapshot voting strategy discussions.
• Discourse (governance forum at gov.thx.network)flagshipTechnology or IntegrationCommunity-based governance forum covering Community Incentives, Community Treasury, Liquidity, Product and Governance categories; the venue for proposals such as the unwinding of veTHX tokenomics.
• DiscordflagshipTechnology or IntegrationNative Discord bot integration for the THX dashboard (Discord Quests, Discord Role Rewards) plus Discord as THX Network's primary community chat and support channel (active until 31 July 2025).
• Twitter / XcoreTechnology or IntegrationTwitter/X integration powers Twitter Quests (social-condition quests) and is a primary broadcast channel for the THX Network corporate account (@thxprotocol).
• Gitcoin PassportcoreTechnology or IntegrationPrivacy-respecting proof-of-humanity integration (Gitcoin Passport) to fight bots and spam across quests.
• WalletConnectcoreTechnology or IntegrationWalletConnect v2 supports mobile-friendly login and connects one of 380+ supported wallets to the THX Network smart-wallet sign-in flow.
• Free a Girl (non-profit)minorGTM or Marketing PartnerFree a Girl is the cause partner for the Royal Dutch Mint "Free a Girl" coincard NFT collection (4,000 pieces) issued via THX Network QR-code infrastructure in November 2023.
• United Nations Development Programme (UNDP)flagshipStrategic or Co-development PartnerIn early 2021, THX Network developed and tested its first system with the UNDP under the EU Blockpool grant; the PoC successfully processed over 70,000 transactions for more than 3,000 users.
• Chrono Games (Forest Knight)coreStrategic or Co-development PartnerChrono Games uses THX Network infrastructure to power the Quest product inside its Forest Knight mobile game; CEO Behfar Iranmanesh is publicly quoted endorsing the partnership.
• Gala GamescoreStrategic or Co-development PartnerGala Games embedded THX Network quests and reward campaigns (Gala Reward Boxes, exclusive Discord roles) for community engagement; Jason Brink (President of Blockchain at Gala) publicly endorsed the partnership.
• Royal Dutch MintcoreStrategic or Co-development PartnerIn November 2023 the Royal Dutch Mint used THX Network software to issue its first NFT collection (4,000 "Free a Girl" coincards) bridging a physical token and digital collectible via QR-code claim.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Galxe: Galxe is the leading Web3 quest-and-reward platform (formerly Project Galaxy), offering on-chain credentialing, loyalty campaigns and quests for crypto and gaming communities. It is the closest direct competitor to THX Network's Quest + Reward product.
• Layer3: Layer3 is a Web3 questing and rewards platform that enables communities and apps to design on-chain quests and distribute XP/rewards. It directly overlaps with THX Network's quest-campaign and reward distribution mechanics.
• Zealy (formerly Crew3): Zealy provides community quests, XP/rewards and engagement campaigns for Web3 communities and DAOs. It targets the same community-engagement use case as THX Network's Discord/Twitter quest engine.
• QuestN: QuestN is a Web3 quest platform that helps projects run on-chain and social quests for community growth and airdrop campaigns, directly comparable to THX Network's social/discord/web3 quest types.
• Intract: Intract is a Web3 quests and learn-to-earn platform offering campaigns, quests, and on-chain reputation/XP, targeting similar gaming and crypto community engagement use cases as THX Network.

Broad incumbents

• Sequence (Horizon): Sequence is a full-stack Web3 gaming infrastructure platform (wallets, indexer, marketplace, payments) that overlaps with THX Network's gaming-focus quest/reward capabilities but as part of a much broader developer platform.
• Thirdweb: Thirdweb is a broad Web3 developer platform with smart-contract SDKs for tokens, NFTs, marketplaces and quests; it serves the same game/app developer persona as THX Network and offers comparable embeddable tooling.

Emerging players

• Stardust: Stardust provides gaming-focused APIs and SDKs for wallets, marketplaces and player engagement; it shares THX Network's gaming-publisher customer profile and offers partial overlap on reward/quest-style engagement features.
• POAP (Proof of Attendance Protocol): POAP mints NFT badges for events and quests and is widely used in Web3 community campaigns; it overlaps with THX Network's QR-code distribution and NFT reward features, though it focuses on attendance credentials rather than full quest engines.

Regional players

• Balthazar: Balthazar is a Web3 gaming analytics and player-engagement platform focused on guilds and player networks; it shares THX Network's gaming customer base and reward-incentive thesis, with regional emphasis on the Australian/APAC ecosystem.

Market position

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/thxprotocol
• GitHubgithub.com/thxprotocol
• YouTubeyoutube.com/channel/UCad99_1sgk7cVRO9BFj2IKA
• LinkedInlinkedin.com/company/thxprotocol

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about THX Network