ABS-CBN Harnesses the Potential of Blockchain

ABS-CBN Corp. said Monday it has partnered with blockchain infrastructure provider Theta Labs Inc. develop new ways of consuming content and entertainment.

As part of the partnership, Theta will become a Web3 video infrastructure partner to support ABS-CBN’s various business units and its Digital Collectible Token (NFT) business.

The partnership, according to ABS-CBN head of digital technology Eugenio Manuel “Jamie” Lopez IV, opens up “fresh opportunities for media and entertainment fans in the Philippines,” starting with projects that have been completed and should be released in the coming months.

“Our partnership with ThetaLabs is a very exciting chapter for us. We look forward to testing and learning about Theta Web3 Video and NFT DRM infrastructure and how it can improve our audience experience across companies and IPs. Working with Theta will bring new features and experiences to our viewers and push the boundaries of entertainment,” Lopez said.

These projects include the launch of the NFT collections of Filipino superheroine Darna and the romantic comedy He’s in Love with Her.

ABS-CBN will also use the Theta video API (Application Programming Interface) across various business units. This will allow them to experiment and explore the potential of Web3 technology to improve the viewer experience.

Lopez told Theta that ABS-CBN is committed to bringing Web3 features and functionality to its viewers and offering new ways to find and interact with their favorite content.

“The widespread adoption of subscription and ad-supported streaming services, original intellectual property and content in Southeast Asia, coupled with the success of Idol Philippines digital collectibles on the Theta blockchain, demonstrates the potential for exponential growth in the region,” the post reads. Mitch Liu, CEO of Theta Labs. “Through this partnership with ABS-CBN, we are thrilled to bring Theta video and the Web3 infrastructure to millions of viewers in the media and entertainment industry.”