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Despite the current crypto bear market, media and entertainment giant ABS-CBN Corp. has entered the world of blockchain and non-fungible tokens (NFTs) by partnering with Web3 media provider Theta Labs Inc. The collaboration paves the way for ABS-CBN to launch digital collectibles for three of their upcoming shows.
“Exciting Opportunities for Filipino Fans”
“The partnership between Theta Labs and ABS-CBN brings fresh opportunities for media and entertainment fans in the Philippines. These projects include NFT collections that fans will have the opportunity to own unique digital collectibles, offering a new way to engage and connect with their favorite characters and stories,” ABS-CBN stated.
NFT Collections for Iconic Shows
Theta Labs will create NFT collections for Filipino superhero show Darna and romantic comedy He’s Into Her. ABS-CBN will also utilize Theta’s Video API across various business units to “experiment and explore the potential of Web3 technology to enhance the viewer’s experience.”
A New Chapter for ABS-CBN Digital
To date, the media giant is currently operating fully on digital as their franchise renewal was rejected in 2020.
“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. Working with Theta will bring new features and capabilities to our viewers and push entertainment boundaries,” said Jamie Lopez, head of digital at ABS-CBN Corporation.
In 2022, the network’s singing competition “Idol Philippines” priorly had a partnership with Theta Labs where they launched a collection that gave their fans utilities such as passes for live shows and a chance to meet the show’s grand winner. (Read more: TV Show Idol Philippines to Launch Own NFTs)
The Success of Idol Philippines NFTs
“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… 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,” said Mitch Liu, CEO at Theta Labs.
ABS-CBN is just among the big names in the country to venture into NFTs, there are already several Filipino entities and personalities in the space.
Filipino Entities and Personalities Embracing NFTs
Recently, boxing world champion Manny Pacquaio announced his partnership with GameFi Project Xeno and the exclusive NFT sale event for their collaboration. (Read more: Manny Pacquiao Ventures to NFTs Anew With GameFi Partnership)
In celebration of their 10th year, the Art Fair Philippines also embraced the emerging technology as they featured works that are incorporated and engaged with computer technology, animation, virtual or augmented reality, the metaverse, and NFTs. (Read more: Art Fair Philippines Highlights Digital Art, NFT in its Tenth Year)
Music legend Ely Buendia is also now in the digital space as he signed a partnership with Artifract, a NFT platform for fine arts. His bandmate, Eraserhead guitarist-turned-painter Marcus Adoro, also had his own NFT art collection, “The Art of Marcus Adoro”.
Filipino rock band Moonstar88 also released their album Lourdes 2088 this year with a digital twist as it integrated NFTs into their 10 songs.
For more news and information about NFTs, visit BitPinas page.
This article is published on BitPinas: ABS-CBN Partners with Theta Labs to Launch NFTs for Popular Shows
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.