MANILA, Philippines – ABS-CBN Corp. is set to release nonfungible tokens (NFTs), or digital assets popularly used as limited art pieces, featuring its popular shows as a new way to engage with fans.
The Lopez-led company, in a statement on Monday, announced its partnership with blockchain infrastructure provider ThetaLabs for the launch of its digital collectibles.
These will be based on the superhero series “Darna,” headlined by actress Jane de Leon, and romantic-comedy series “He’s Into Her,” top-billed by young talents Belle Mariano and Donny Pangilinan.
The media company would also be tapping Theta’s video capabilities to “explore the potential of Web3 technology to enhance the viewer’s experience.” Web3 refers to the third iteration of the world wide web that integrates blockchain technology.
“Our partnership with ThetaLabs is a very exciting chapter for us … Working with Theta will bring new features and capabilities to our viewers and push entertainment boundaries,” ABS-CBN head of digital Jaime Lopez said.
NFTs are unique digital assets existing on a blockchain, a highly advanced ledger that stores and secures data in the digital highway. These could be bought as investments that can later on be traded on an exchange platform.
Since ABS-CBN’s franchise renewal was rejected in 2020, the media giant has turned to digital platforms to stay afloat.
It recently sold Sky Cable Corp.’s broadband business to PLDT Inc. for P6.75 billion, proceeds from which would be used to retire obligations and fund content creation. INQ