The cult show philippines idol is one of the most watched television programs in the country. ABS-CBN, its producer, seeks to include it in the dynamics of migration to the web3, and has entered into a partnership with the Theta blockchain to launch NFTs.
Idol Philippines and THETA: a partnership that focuses on NFTs
Decentralized Peer-to-Peer (P2P) streaming network Theta Network on August 16 unveiled a partnership with ABS-CBN Corp., the Philippines’ largest television network and producer of the singing competition. philippines idol. The agreement between the two parties aims to launch non-fungible tokens (NFT) which will be stored on the Theta blockchain and available on ThetaDrop, the NFT marketplace created by Theta Network.
For information, a similar agreement was signed at the beginning of the year between the Theta network and the television program production and distribution company, Fremantle, for the cult show american idol.
NFTs will be launched in two phases. The first to include commemorative tokens of the logo ofphilippines idol at 50 Philippine pesos each, or $0.90, as well as 400 animated graphics cards called Golden Tickets at 999 Philippine pesos each ($17.89).
The second batch of NFTs will include 2,400 units of the Finalist Packwith candidates fromphilippines idol, priced at 899 Philippine pesos each, or $16.10. The digital cards will be divided into three levels of rarity namely: bronze, silver and gold. This phase will also cover the launch of 100 NFTs called Platinum Tickets at 1,999 Philippine pesos, or $35.80 per piece.
This last category of NFT can be used as a pass for the final ofphilippines idol, which will take place on September 17 and 18. They will give owners the chance to meet the big winner of the show.
“Our partnership with Idol Philippines is the latest step in bringing major entertainment brands into the Web3 world. Much like our collaboration with American Idol, we couldn’t be more excited to show how this new paradigm can create exciting and meaningful experiences.”said Mitch Liu, CEO and co-founder of Theta Labs, the company that operates the Theta Network.
For Theta, the launch of this NFT project marks a key step in its development, as it recorded a relatively satisfactory second quarter, unlike many other players in the industry.
The announcement of the collaboration between Theta and ABS-CBN was applauded by many hodlers of the Theta cryptocurrency (THETA), who see through this agreement a means of strengthening the network and a stimulus for the price of the token. For others, it is a showcase offered to the Theta ecosystem, which will be able to take advantage of one of the most dynamic markets in the world when it comes to the adoption of digital assets.
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