Tuesday, April 16, 2024

ABS-CBN leaps into Web3 space via video deal with blockchain firm

Theta Labs, a blockchain infrastructure provider for Web3 media and entertainment, recently announced a new partnership with content company ABS-CBN.

Following the success of “Idol Philippines” on ThetaDrop, Theta will be the Web3 video infrastructure partner to power ABS-CBN’s various business units and its digital collectibles NFT business.

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.

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,” Mitch Liu, CEO at Theta Labs, said.

“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.”

Jamie Lopez, head of digital at ABS-CBN Corporation, said the partnership with ThetaLabs is an exciting chapter for the company.

“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,” Lopeza said.

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