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Manila Bulletin devider Business devider The Stock Market devider ABS-CBN to venture into NFTs

ABS-CBN to venture into NFTs

Published Mar 20, 2023 08:12 am
ABS-CBN Corporation, the Philippines’ leading content company, has forged a new partnership with Theta Lab to power its various business units and its digital collectibles NFT business. In a statement, ABS-CBN said Theta Lab is the leading blockchain infrastructure provider for Web3 media and entertainment and was key to the success of “Idol Philippines” on ThetaDrop. The partnership between Theta Labs and ABS-CBN brings fresh opportunities for media and entertainment fans in the Philippines, starting with three projects that have been finalized and are set to release in the coming months. These projects include NFT collections of Filipina superheroine Darna and the romantic comedy “He’s Into Her.” Fans of these popular franchises will have the opportunity to own unique digital collectibles, offering a new way to engage and connect with their favorite characters and stories. In addition, ABS-CBN has also confirmed that they will be utilizing Theta’s Video API across various business units. This will allow them to experiment and explore the potential of Web3 technology to enhance the viewer’s experience. With the use of Theta’s technology, ABS-CBN aims to bring Web3 features and capabilities to its viewers and offer new ways to discover and engage with their favorite content. “The widespread adoption of subscription and ad-supported streaming services, original IP and content in Southeast Asia, coupled with the success of the ‘Idol Philippines’ digital collectibles on the Theta blockchain, demonstrates the potential for exponential growth in the region,” said Theta Labs CEO Mitch Liu. Liu added that, “Through this partnership with ABS-CBN, we are thrilled to bring Theta’s video and Web3 infrastructure to millions of viewers in the media and entertainment industry.” “Our partnership with ThetaLabs is a very exciting chapter for us. We are looking forward to testing and exploring Theta’s Web3 video and NFT DRM infrastructure and how it can enhance our audience experience across various businesses and IPs,” said ABS-CBN Head of Digital Jamie Lopez. He notedt hat, “Working with Theta will bring new features and capabilities to our viewers and push entertainment boundaries.”
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