ABS-CBN, one of the biggest media companies in the Philippines, has teamed up with Theta Labs Inc., a California-based developer, to bring blockchain technology to its entertainment offerings. The two companies are working together to create blockchain assets for three upcoming shows, which will include non-fungible token (NFT) collectibles for Filipino superhero Darna and romantic comedy He’s Into Her. ABS-CBN will sell these NFTs to fans who want to own digital items of their favorite characters. NFTs are unique collectibles in the digital world that can be exchanged for money, whether cash or cryptocurrency.
ABS-CBN will also use Theta Labs’ Video API to produce new forms of entertainment materials, allowing the company to experiment with the potential of Web3 technology to improve viewer experience. Through Video API, ABS-CBN can encode, host and stream materials worldwide, expanding its audience reach through various apps and channels.
According to Jamie Lopez, ABS-CBN’s head of digital, the company’s decision to enter the blockchain space has allowed it to expand its tools in reaching viewers.
“We’re looking forward to testing and exploring Theta’s Web3 video and NFT infrastructure and how it can enhance our audience experience across various businesses and intellectual properties. Working with Theta would bring new features and capabilities to viewers and push entertainment boundaries,” Lopez said.
If you’re interested in learning more about NFTs and how they’re changing the entertainment industry, consider joining Vvibe.io, a community-driven platform for artists, creators, and collectors of NFTs. With Vvibe.io, you can explore a range of NFT collections and connect with like-minded individuals who share your passion for blockchain-based art and collectibles.