Theta Labs Collaborates with ABS-CBN to Revolutionize Web3 Infrastructure
Theta Labs, a blockchain infrastructure developer for Web3 entertainment and media companies, has announced a new collaboration with ABS-CBN, the Philippines’ most successful media and entertainment conglomerate. Through its Theta Video API and virtual collectibles NFT company, Theta will serve as ABS-CBN’s partner for the Web3 video infrastructure project, effective immediately.
We're excited to announce our new partnership with @ABSCBN, the Philippines’ leading content company! Theta will be the Web3 video infrastructure partner for ABS-CBN’s various business units with Theta Video API and its digital collectibles NFT business.https://t.co/B3OOmgRyCt
— Theta Network (@Theta_Network) March 21, 2023
ABS-CBN to Utilize Theta’s Video API for Enhanced Viewer Experiences
As a result of the popularity of the Idol Philippines competition on ThetaDrop, the collaboration between the two giants, Theta Labs & ABS-CBN, will enable the creation of new opportunities for those interested in the Filipino media or entertainment industries. The partnership will allow fans to purchase unique digital treasures. They will interact with their favourite characters and stories through NFT collections.
ABS-CBN has also stated that it will be using Theta’s Video API across a variety of its business divisions to experiment. It will explore the possibilities of Web3 technology for enhancing viewer experiences. By using Theta’s technology, ABS-CBN will be able to offer its viewers Web3 capabilities and features, as well as new avenues to discover and interact with their preferred content.
According to Mitch Liu, CEO of Theta Labs, the widespread adoption of subscription and ad-supported online streaming, original intellectual property, and content in Southeast Asia, along with the success of the Idol Philippines digital collectibles on the Theta blockchain, shows the potential for exponential growth in the region. With this collaboration with ABS-CBN, Theta’s Web3 infrastructure will soon be accessible to millions of viewers working in the entertainment and media sectors.
ABS-CBN Corporation partners with Theta Labs to explore Web3 video
Jamie Lopez, head of digital at ABS-CBN Corporation, stated that the collaboration with Theta Labs is an exciting chapter for them. Through this partnership, ABS-CBN aims to test and explore Theta’s Web3 video and NFT DRM technology. In addition, it could improve audience experiences across a variety of enterprises and IPs. The partnership with Theta will enable ABS-CBN to deliver new capabilities and features to its audience. Moreover, it will push the boundaries of what is possible in the entertainment industry.
This collaboration between Theta Labs and ABS-CBN represents a significant step forward for Web3 technology in the entertainment and media sectors. By leveraging Theta’s video API and NFT technology, ABS-CBN will be able to offer its viewers new and innovative ways to engage with their favourite content. The partnership is a testament to the potential of Web3 technology to transform the entertainment industry, and it is likely to lead to even more exciting developments in the future.