This card's name refers to Thebes, which is the name of an ancient city in Egypt and another in Greece. The former was the capital of the province of Waset, and was the capital of the entire country during the Eleventh and Eighteenth Dynasties. The latter was said to have been guarded by the "sphinx", and was the setting for a number of tragic myths.
This card may also refers to Theban Necropolis, a ritual burial ground for much of Pharaonic times.
The condition for this card's effect similar to that of many "Infernity" monsters, with the extra condition of having no Spell or Trap Cards on the field as well.