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New series tackles betrayal

Jodi Sta. Maria as Dra. Jill Ilustre in the The Broken Marriage Vow

The Broken Marriage Vow is the Pinoy remake of the Brit show Doctor Foster

AN act of betrayal sets the stage for the new drama series The Broken Marriage Vow, which premieres on Jan. 24 on various platforms.

Directed by Concepcion Macatuno and Andoy Ranay, ABS-CBN’s The Broken Marriage Vow is the Philippine adaptation of the original BBC series Doctor Foster (2015), about a woman who has an almost perfect life as a happily married woman, mother, and trusted medical practitioner, until her husband begins acting suspicious, then she uncovers secrets of her husband’s affair.

The original BBC series has already been adapted in France, Russia, India, South Korea, and currently in Turkey. The Philippine adaptation was first announced in April 2021.

In the local version, Jodi Sta. Maria stars as Dra. Jill Ilustre, a headstrong woman who refuses to play the victim following her husband’s betrayal.

“Dra. Jill Ilustre is a woman whose top priority is her family. She’s a loving mother, an attentive wife, a compassionate person who really cares for her patients. Her personality is anchored on love, which is what makes her character relatable,” Ms. Sta. Maria said at an online press conference on Jan. 14.

Zanjoe Marudo plays Dra. Jill’s husband, David Ilustre, whose affair with a younger woman, Lexy (played by Sue Ramirez) destroys his family.

When Mr. Marudo was offered the role, he immediately knew that he would be playing a character that would trigger strong emotions from the audience.

“When we were shooting, I polished my approach. I set a goal to somehow make the audience understand why he acted that way,” Mr. Marudo said Filipino, in a separate online press conference on Jan. 11.

Both lead actors saw the BBC series and Korean adaptation, The Life of the Married (2020) as references for their characters. They then approached their characters in the context of a Filipino couple and family.

“Pinanood ko siya para hindi ko ulitin kung ano ’yung ginawa nila. Ang gusto kong ipakita at iparamdam sa tao [ay] kung paano maging tatay at asawa [in the Philippine context] (I watched the adaptations so I would not repeat what they had done. What I want to show people is how to be a father and husband),” Mr. Marudo said.

“When something is so close to home, I have a tendency to react as myself. But I am not acting as Jodi. I can just use that experience and react the way [Dra.] Jill would react in a certain situation,” Ms. Sta. Maria said.

She acknowledged co-star Angeli Bayani for introducing her to the Meisner acting technique, developed by American theater practitioner Sanford Meisner, which focuses on using the immediate environment for stimulus to react to a situation.

“The challenge for us as actors is to put an interesting twist, add another layer to the character,” Ms. Sta. Maria said.

Rattled by David’s betrayal, Jill behaves in destructive ways and becomes obsessed with revenge, affecting people around her including her son Gio (played by Zaijian Jaranilla).

“You are just suddenly hijacked by your emotions. And when you are too emotional about something, you cannot think logically. And out of hurt and pain, nakakagawa siya ng mga bagay na hindi mo iisispin na magagawa ng katulad niya (she can do things that you would not think that someone like her could do),” Ms. Sta. Maria said of her character’s decisions.

While filming the upcoming series, Ms. Sta. Maria said she learned that “our lives are moving in the direction of our decisions” and people around us.

“There is always life after a heartbreak,” she said.

Also in the cast of The Broken Marriage Vow are Jane Oineza, Angeli Bayani, Bianca Manalo, Ketchup Eusebio, Rachel Alejandro, Art Acuña, Empress Schuck, Joem Bascon, Brent Manalo, Malou Crisologo, Franco Laurel, Sandino Martin, Lao Rodriguez, Jet Gaitan, Jie Anne Armero, Migs Almendras, Avery Clyde, JB Agustin, Susan Africa and Ronnie Lazaro.

The entire series was shot in Baguio City.

The Broken Marriage Vow will be aired on Jan. 22 on iWantTFC and Viu, two days before TV broadcast premiere on Jan. 24, 8:40 p.m. on the Kapamilya Channel, TV5, A2Z, and on Kapamilya Online Live on ABS-CBN Entertainment’s YouTube channel and Facebook page, and TFC.  — Michelle Anne P. Soliman

BSP looking to forge bilateral deals with more central banks

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THE BANGKO SENTRAL ng Pilipinas (BSP) is pursuing bilateral ties with central banks around the world for partnerships on financial technology and capital market development.

“For this year, we have in our pipeline negotiations with other central banks focusing on internal audit, digital payment initiatives, and cross-border establishments,” BSP Governor Benjamin E. Diokno said at an online briefing on Thursday, noting these talks are still in progress.

“What we can mention are the areas of cooperation in these initiatives — these are all on fintech, capital market development, and on financial assistance development,” said Maria Teresa S. Dueñas, senior director at the BSP’s International Relations and Surveillance Department.

Ms. Dueñas added that cybersecurity is also part of the discussions the BSP is having with other financial regulators, noting their previous memoranda of understanding with Bank of Mauritius, Bank of Indonesia, and the Financial Services Authority (of Indonesia) focused on strengthening cybersecurity.

“We recognize the importance of addressing cyber risk issues to ensure trust and resilience in the digital economy. However, we have yet to discuss concrete bilateral projects in this area,” she said.

The central bank chief said there have also been negotiations to renew a bilateral swap agreement with the People’s Bank of China in 2018 as an earlier deal expired in 2010.

“This arrangement aims to facilitate bilateral trade and investment as well as provide liquidity should the need arise. However, negotiations were put on hold in 2020,” he said.

In 2021, the BSP inked cooperation agreements on information exchange and capacity building with the Bank of Mauritius and the Monetary Authority of Singapore.

The central bank also joined other Philippine agencies in signing a memorandum of understanding with the British Embassy Manila to collaborate on fintech and capital market development and sustainable finance.

Earlier this month, the BSP’s bilateral swap agreement with Japan was extended anew until 2024. Under the agreement, both the Philippines and Japan can access a swap facility to provide short-term liquidity support in cases of balance of payment challenges.

The swap agreement permits the BSP to draw up to $12 billion or its equivalent in Japanese yen. Meanwhile, Japan can draw up to $500 million.

Since its establishment in 2001, the Philippines has never drawn from the swap agreement, as the country is armed with sufficient foreign exchange buffers, Mr. Diokno said.

“We believe that the swap agreement is a positive signal to the market that we have sufficient financing resources to tap in case the need arises,” he said. — L.W.T. Noble

OPMC seeks to explore in Zambales, Dinagat Islands

ORIENTAL Petroleum and Minerals Corp. (OPMC) has applied for permits to explore in Zambales and the Dinagat Islands for nickel and other associated metals, it said in stock market disclosure on Thursday.

It said applications were submitted to regional offices of the Mines and Geosciences Bureau for five areas in Zambales spanning around 13,816 hectares and two areas in Dinagat Islands covering around 863 hectares.

It said three out of the five areas in Zambales were already designated by the mining bureau’s office in Central Luzon with separate exploration permit application numbers.

The mining company said it is “authorized to conduct exploration and production of petroleum, minerals and renewable energy.”

Another disclosure will be posted to the Philippine Stock Exchange once the applications are converted to exploration permits, according to OPMC.

The company’s move to apply for exploration permits comes after the government lifted the four-year ban on open-pit mining on Dec. 23.

Incorporated in 1969, OPMC is a local exploration and production company engaged in upstream petroleum activities in the country.

Its petroleum operations are located mainly in Northwest Palawan. Most of its operational activities depend on its service contracts with the government.

OPMC has three wholly owned subsidiaries, namely: Oriental Mahogany Woodworks, Inc., Linapacan Oil Gas and Power Corp., and Oriental Land Corp.

In the third quarter of 2021, the company reported a net loss of $845,403, turning around from a net income of $1.29 million in the same quarter in 2020.

For the January-September period last year, however, the company posted a net income of $529,086, although lower by 82.2% than the $2.98 million recorded in the same three quarters a year earlier.

In the stock exchange on Thursday, OPMC shares went up by 20% or P0.002 to P0.012 each. — Luisa Maria Jacinta C. Jocson

Netflix announces new Korean titles for 2022

MONEY HEIST: KOREA – Joint Economic Area

FOLLOWING the success of the survival-themed series Squid Game and the supernatural drama Hellbound, Netflix announced that it will be offering over 20 new Korean titles in 2022 amid growing interest in shows from South Korea.

In a statement, Kang Don-han, Netflix VP of Content for Korea, said that “global viewing hours of our Korean shows grew six-fold last year compared to 2019.”

“Credit for this growing global interest goes to the talented Korean creators we have been working with for the past few years. From 2016 to 2021, we launched more than 130 Korean titles. As a result, Netflix has become a compelling destination for fans of Korean content, who know that this is the home of diverse and high-quality Korean storytelling,” Mr. Kang said.

Squid Game is the biggest Korean series on the online streaming platform to date. It was the most viewed Netflix show in 94 countries at its peak in September to Oct. 2021, with 95% of its viewership coming from outside Korea.

Squid Game is a drama thriller that follows the cash-strapped participants in a survival game who compete in a series of deadly children’s games in the hopes of winning a whopping 45.6-billion-won prize.

Following Squid Game’s success came the supernatural drama Hellbound, with its premiere recording 43.48 million viewing hours. Hellbound was among the Top 10 Netflix shows in 93 countries and ranked number one in 34 countries. Another Korean show, the sci-fi mystery The Silent Sea, also reached the number one spot on the weekly non-English Top 10 list on its premiere.

With the increasing viewership, Netflix will be offering over 20 Korean shows this year.

The slate of Korean content includes series such as All of Us Are Dead (premieres Jan. 28) where zombies invade a high school; the love story of a young couple in Twenty Five, Twenty One; the romance drama Forecasting Love and Weather about people at the Korea Meteorological Administration (Feb. 12); and the romance drama Thirty Nine (Feb. 16) about the friendship, love, and life of three friends who are about to turn 40. Other upcoming shows include Money Heist: Korea – Joint Economic Area, an adaptation of the popular Spanish series, and Black Knight, which illustrates an air polluted world in 2071, where people depend on respirator masks to breathe.

The new Korean films are: Love and Leashes, which is about a different kind of romance between a man with a unique taste and a woman who stumbles upon his secret; the spy action film Yaksha: Ruthless Operations which follows a merciless man who crosses paths with a prosecutor on a special inspection mission in Shenyang, a Chinese city notorious for espionage; Carter, about an agent suffering from memory loss who is thrown into the middle of a mysterious mission; The 20th Century Girl, which narrates the lives of twentysomethings; JUNG_E, which portrays a desolated Earth in the 22nd century that is no longer habitable due to climate change; and, Seoul Vibe, which follows adventures of a special-ops team against the backdrop of the 1988 Seoul Olympic Games.

Aside from series and films, there will be an unscripted comedy show, Celeb Five: Behind the Curtain, which will follow an all-girl comedian group Celeb Five (Kim Shin-young, Song Eun-yi, Shin Bong-sun, Ahn Young-mi) as they go on marathons and meetings while planning a stage show  on Netflix.

“We believe this is a slate that showcases more of the inventive and gripping Korean storytelling that the world has come to love. To do that, we will continue to invest in Korea’s creative ecosystem and, together, we will keep on showing the world that ‘Made in Korea’ means ‘Well-Made,’” Mr. Kang said.

“This year, we look forward to the new conversations that will be sparked by a new wave of stories, as we help Korean content find homes in the hearts and minds of our global audience.” he said. — MAPS

DBP grants P2.1B in loans for hydro-energy projects

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DEVELOPMENT BANK of the Philippines (DBP) extended P2.1 billion in loans for two hydro-energy projects to support power supply for the Luzon and Visayas grids.

The state-owned bank granted the loans to Matuno River Development Corp. and Taft Hydroenergy Corp., both majority-owned by Magis Energy Holdings Corp.

While the P1.1-billion loan for Matuno River Development Corp. was used to build an eight-megawatt hydro energy power plant in Nueva Vizcaya, another P1 billion lent to the Taft Hydroenergy Corp. was used for a hydropower project in Eastern Samar.

“We hope to accelerate the use of renewable power resources and increase the country’s green energy mix,” DBP President and Chief Executive Officer Emmanuel G. Herbosa was quoted as saying in a statement on Thursday.

“Green financing can ensure that sustainable socioeconomic development can be achieved while protecting the environment,” Mr. Herbosa added.

The Nueva Vizcaya plant is expected to generate an additional 42-gigawatt hours (GWh) for the Luzon grid via the National Grid Corp. of the Philippines.

The Eastern Samar project will supply 70 GWh to the Visayas grid.

“(The project will) help address the inadequate supply of stable and affordable electricity in the region particularly in Samar Island and Leyte Province,” DBP said.

Mr. Herbosa said commercial operations will start soon.

The projects are under DBP’s Financing Utilities for Sustainable Energy Development program, which aims to fund electricity projects.

The state-owned lender has released P41.57 billion in credit under this program as of October 2021.

DBP provides credit support for infrastructure and logistics, micro-, small-, and medium-sized enterprises, environment, and social services and community development projects. — J.P. Ibañez

AC Energy set to switch on 60-MW wind farm in Vietnam

AC ENERGY Corp. (ACEN) plans to switch on its seventh renewable energy project in Vietnam the first quarter of this year, after it launched three jointly developed wind farms in the regional neighbor in 2021.

In a statement sent late on Wednesday, the listed energy platform of the Ayala group said that it is expecting the 60-megawatt (MW) Lac Hoa & Hoa Dong Wind in Soc Trang to be operating early this year.

“The wind project is a collaboration with partner UPC Renewables Co. Ltd. Vietnam and will feature the tallest wind turbines in the country to date at a record hub height of 162 meters,” the company said.

The company recently announced that it had powered on three new wind farms to add 380-MW power capacity to the Vietnam grid.

ACEN President and Chief Executive Eric T. Francia said: “Powering three energy plants in 2021 was a significant accomplishment that we could not have achieved without the collaboration with our partners and strong support from the government of Vietnam.”

The 88-MW Ninh Thuan wind farm in South Central Vietnam, the second partnership project of ACEN and the Hanoi-based BIM Group, began operating in October last year.

It is expected to produce 327 gigawatt-hours (GWh) in a year, enough to power around 136,000 homes with renewable energy and help avoid 298,551 tons of carbon dioxide annually.

In November, the 252-MW Quang Binh wind farm, a joint project of the company with AMI AC Renewables in the North Central Vietnam, was switched on. It is one of the largest wind farms in the country that can produce 648 GWH or renewable energy per hour annually,

In the same month, ACEN and The Blue Circle’s second phase 40-MW Mui Ne in Binh Thuan Province in South Vietnam was also turned on.

ACEN said that through its transformational partnerships, it has rapidly expanded its renewables footprint in Vietnam.

Vietnam is the ACEN’s largest market outside of the Philippines. The company has six renewable energy projects in the foreign country, three of which are solar plants that are all commercially operating since 2019.

ACEN aspires to be the biggest listed energy platform in Southeast Asia as it targets to put up 5,000 MW of renewable energy capacity by 2025.

Its shares on Thursday rose 2.42% or 23 centavos to close at P9.73 apiece. — Marielle C. Lucenio

Amazon reveals Lord of the Rings subtitle that hints at storyline

LOS ANGELES — The long-awaited, expensive Middle-earth fantasy series from Amazon.com, Inc. has a name: The Lord of the Rings: The Rings of Power.

Amazon’s Prime Video revealed the full name of the fantasy series on Wednesday ahead of its planned streaming debut of Sept. 2.

The show’s storyline takes place thousands of years before the events in writer J.R.R. Tolkien’s Lord of the Rings books, which are set in the fictional land of Middle-earth and were brought to life in blockbuster movies.

The subtitle foreshadows a story “that welds the major events of Mr. Tolkien’s Second Age together: the forging of the iconic rings,” Amazon said in a statement.

Creators J.D. Payne and Patrick McKay said the series “unites all the major stories of Middle-earth’s Second Age: the forging of the rings, the rise of the Dark Lord Sauron, the epic tale of Numenor, and the Last Alliance of Elves and Men.”

“Until now, audiences have only seen on screen the story of the One Ring,” they added. “But before there was one, there were many … and we’re excited to share the epic story of them all.”

Amazon spent about $465 million filming the first season of the show, according to government officials in New Zealand, where the series was filmed. The company is expecting to make five seasons of the show, making it one of the most expensive TV series ever.

The first season will be available in more than 240 nations in multiple languages, Amazon said. New episodes will be released weekly. — Reuters

Moody’s cuts outlook on UnionBank to negative following Citi deal

MOODY’S INVESTORS Service on Thursday revised its rating outlook on UnionBank of the Philippines, Inc. (UBP) to negative from stable due to a significant decline in the bank’s capital buffers followings its acquisition of the local retail unit of Citigroup, Inc.

The debt watcher downgraded the outlook while affirming UnionBank’s Baa2 long-term local and foreign currency bank deposit and senior unsecured ratings.

A negative outlook means the bank’s credit rating could be downgraded in the next 12 to 18 months.

UnionBank last month said it will buy Citi’s local retail unit for P55 billion. This includes Citi’s credit card, personal loans, wealth management and retail deposit businesses in the country.

“The negative outlook reflects Moody’s view that UBP’s solvency will weaken after the acquisition is completed, a result of a significant reduction in UnionBank’s post-acquisition capital buffers amid heightened asset risks due to the ongoing pandemic,” Moody’s said in a note.

Moody’s said the bank will likely take “multiple years” to rebuild the capital buffers eroded after it bought Citi’s Philippine retail unit.

“Although the acquisition will improve UnionBank’s core profitability due to an increase in the share of higher-yielding retail loans, the extent and sustainability of the potential earnings boost from this acquisition are highly dependent on a successful post-acquisition retention of Citigroup’s clients and synergy realization, both of which are uncertain at this point,” the debt watcher said.

Moody’s said it views the acquisition as a governance risk for the bank under its environmental, social and governance framework, noting the implications of the transaction to UnionBank’s capital, financial strategy and risk management.

The debt watcher also said asset quality will continue to be threatened by the pandemic, noting UnionBank’s gross nonperforming loan (NPL) ratio picked up to 4.9% as of September 2021 from 3.3% as of end-2019.

Meanwhile, Moody’s expects UnionBank’s funding structure and liquidity to be stable, in line with similarly rated peers, in the next 12 to 18 months.

It warned a rating downgrade will be possible if UnionBank’s tangible common equity ratio drops below 12%. Moody’s currently expects this to decline to 13% following the acquisition from 15.3% at end-2020.

Another factor that could cause a downgrade for the bank is if its NPL ratio hits 6%, Moody’s said.

UnionBank’s net income rose by 26% from a year earlier to P10.71 billion in the nine months to September 2021.

Its shares closed at P102.80 apiece on Thursday, up by P1.80 or 1.78% from its previous finish. — L.W.T. Noble

Energy chief cites NGCP role in addressing power issue

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ENERGY Secretary Alfonso G. Cusi said on Thursday that privately owned National Grid Corporation of the Philippines (NGCP) should address the possible deficient power supply during summer, which coincides with the election season.

“As system and grid operators, they (NGCP) have a big role in assuring stable, efficient and reliable supply of electricity,” Mr. Cusi told BusinessWorld in a text message on Thursday.

His comment came after NGCP warned on Tuesday about the thinning power supply in all three grids in Luzon, Visayas, and Mindanao that might lead to “yellow alerts.”

Yellow alerts are placed over the grid when power supply fails to meet the transmission grid’s regulating and contingency reserve minimum. A red alert is issued when power demand exceeds supply, resulting in power interruptions.

In a statement released to reporters on Thursday, Mr. Cusi asked what NGCP is going to do about its own warning.

“In addition to their public advisory, the Department of Energy (DoE) is very interested to hear from them about the steps they have taken, or are taking, to address the situation, particularly in preventing the occurrence of a power interruption,” he said.

He asked if NGCP has ensured the following: availability of all capacities at all power stations; the connectivity of all available capacities; if all the congestion issues are addressed; if the Grid Operating Maintenance Program (GOMP) was thoroughly planned; and if the reserves are contracted from a separate pool of capacity for ancillary services which can be tapped in cases of emergency.

The grid operator earlier said that the GOMP was approved by the DoE on Jan. 10. The maintenance program consolidates the preventive maintenance schedules of power plants, indicating how much power will be rendered inaccessible on maintenance days.

“On paper, there appears to be sufficient supply to meet demand; but the plan on paper, the GOMP, is not always followed. It is when there are unscheduled shutdowns and derations, and extensions of maintenance duration, that grid operations may be disrupted enough to warrant the issuance of a grid alert status,” NGCP said.

It also said that as transmission service provider it cannot intervene on matters concerning power generation, but it can provide an overview of the supply and demand situation, and try to dispatch available grid resources.

Mr. Cusi said that he had instructed the DoE’s power bureau to look into the matter.

The DoE has forecast peak demand at 12,387 megawatts (MW) for Luzon to take place in the last week of May, 747 MW higher than the actual 2021 peak of 11,640 MW, which occurred on May 28, 2021, the grid operator said.

Demand in the Luzon grid peaked at 11,344 MW on June 21, 2019 and 11,103 MW on March 1, 2020.

Demand in the Visayas grid is expected to peak this year at 2,528 MW, higher than the 2,252-MW peak recorded on Dec. 13, 2021. The Mindanao grid is expected to see peak demand at 2,223 MW, against the 2,144-MW peak on Aug. 4, 2021. — Marielle C. Lucenio

Veteran comedian Ernesto ‘Don Pepot’ Fajardo, 88

FACEBOOK.COM/FDCP.PH

VETERAN comedian, actor, host, and writer Ernesto Fajardo, best known as “Don Pepot,” passed away on the evening of Jan. 18, his son Michael Fajardo confirmed on social media. The actor was 88 years old.

“Our beloved Ernesto ‘Don Pepot’ Fajardo passed away yesterday at 8:32 p.m. due to acute respiratory failure; COVID confirmed critical,” his son wrote on Facebook.

He began his acting career in 1964 and appeared in over a hundred films, among them John & Marsha ’85 (1985), Shake, Rattle & Roll V (1994), and Oki Doki Doc: The Movie (1996).

His last project was the 2012 Metro Manila Film Festival entry, Si Agimat, Si Enteng Kabisote, at Si Ako.

In 2005, he was honored with the Lou Salvador Sr. Memorial Award at the 53rd FAMAS for his contributions to the Philippine Cinema as a comedian.

The Film Development Council wrote on Facebook: “His remarkable contributions to the industry will always be remembered. The FDCP sends its heartfelt condolences to the bereaved family and loved ones of Mr. Ernesto Fajardo.”

The actor’s wake will be open to the public on Jan. 22 at Solennelle Funeral Homes in Valenzuela City.

PLIA names Etiqa Philippines’ chief executive as new president

PHILIPPINE Life Insurance Association, Inc. (PLIA) has named Etiqa Philippines head Rico T. Bautista as its new president.

The chief executive officer (CEO) of insurance firm Etiqa Life and General Assurance Philippines, Mr. Bautista will head the nonprofit organization representing life insurance companies operating in the Philippines.

He expects the organization to be an “active contributor to the country’s social and national development, through its significant investments in government bonds and securities, the insurance and corporate taxes that it adds to the national coffers, and the corporate social responsibility programs that it undertakes.”

Mr. Bautista said he plans to make insurance more relevant to the underinsured Filipino population.

“We believe that a well-informed insuring public is one key dependency to enabling a significant improvement in the insurance penetration rate in the country,” he said in a press release on Thursday.

He plans to continue communicating industry concerns to regulators, government and nongovernment agencies, and international groups.

“Maintaining the close working relationship between PLIA and the Insurance Commission is critical to the achievement of our industry’s objectives,” he said.

Mr. Bautista has been the president and CEO of Etiqa since 2019, according to his online profile. He was previously vice-president of segment management in BPI PhilamLife Assurance Corp. after five years in AIA Group Ltd.

Part of the Maybank Group, Etiqa offers retail life and nonlife insurance products.

PLIA represents 31 member companies. — Jenina P. Ibañez

Filipino-founded Nexplay eyeing NFT gaming

NEXPLAY, a new esports ecosystem and technology company founded by Filipinos, plans to enter high-growth areas, including non-fungible tokens (NFT) and blockchain gaming, its president said.

“The games industry in the region and in the Philippines is at an inflection point,” Nexplay President and Co-Founder Miguel C. Bernas said in a statement e-mailed to reporters on Jan. 18.

“Aside from further expanding our esports ecosystem, we also plan to venture into the high-growth area of Web3.0, NFTs and blockchain gaming,” he added.

Web3.0 is the third generation of online services, while NFTs are non-interchangeable digital tokens that contain data proving ownership of items, mostly related to art, audio, video, and the like.

Southeast Asian countries lead in terms of NFT ownership, with the Philippines topping the list at 32%, according to the findings of an online survey released in November last year by Australian independent information service Finder.

The popularity of NFTs in the Philippines is mainly from in-game assets gained in play-to-earn games like Axie Infinity.

“In the same way that games leaped from arcades to the home, from desktop devices to mobile handsets and from offline to online, blockchain technology will be the next revolution in gaming,” Mr. Bernas also said.

Mr. Bernas, a veteran business executive, was recently named president and co-founder of the technology company.

He will “lead strategy and corporate governance, as well as spearhead fund raising as the company moves towards its Series A investment round,” Nexplay said.

“Already operationally profitable with revenues growing at 150% year on year, the exciting gaming tech startup is looking to bolster its esports ecosystem and enhance its professional esports teams and content creator offerings to brands and advertisers, it added. — Arjay L. Balinbin

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