ABS CBN’s Idol Philippines Announces Plans to Launch NFT Collection

ABS CBN’s local singing competition show “Idol Philippines” is looking to launch its own NFT collection. This marks the first program in the country to have its own tokens in an effort to innovate Philippine TV. The NFT marketplace ThetaDrop will serve as the platform offering the tokens. Fans can expect multiple drops throughout the month.

Theta Labs, the organization behind ThetaDrop, had a similar partnership with Fremantle earlier this year. Fremantle is the producer of “American Idol,” the U.S. counterpart of Idol Philippines. The show will be dropping its first batch of NFTs on August 12. This collection will include commemorative digital collectibles of the “Idol Philippines” logo along with 400 “Golden Ticket” animated graphics cards. These tokens are priced at ₱50 and ₱999 apiece, respectively. “Golden Ticket” NFT holders can use their tokens to serve as live show passes throughout August.

ABS CBN will drop its second collection on August 18. The subsequent collection features 2,400 pieces of the “Finalist Pack” at ₱899 each.  These will come in separate rarity tiers of Bronze, Silver, and Gold. Each token highlights the contestants of the competition. Finally, a 100 “Platinum Ticket” NFT collection will also launch on August 23 priced at ₱1,999 each. Platinum tickets will serve as passes for the show’s finals on September 17 and 18. It also gives holders a chance to meet the competition’s grand winner.

“This partnership will allow our audience to experience ‘Idol Philippines’ in a new, fun, and exciting manner as we work towards innovating the way viewers connect with the show,” explained ABS-CBN Corp. head of digital Eugenio Lopez IV. “We are very grateful for our collaboration with Fremantle and Theta since this is only the beginning as we continue to explore meaningful ways in which our audiences can fully enjoy their favorite shows.”

“Our partnership with ‘Idol Philippines’ is the latest step in onboarding leading entertainment brands into the world of Web3. Just like our ‘American Idol’ collaboration, we couldn’t be more excited to show how this new paradigm can create exciting and meaningful experiences,” concluded Theta Labs CEO and co-founder Mitch Liu.

Source: ABS CBN