Earlier today it was announced that Mogul Productions has launched an industry first blockchain-based investing, industry and community platform for feature films.
The platform, hosted at www.MogulProductions.com, offers fans of movies the ability to engage and invest across a slate of potential feature films utilizing blockchain technology. The website went live in a beta form and promises to provide a multi-layered approach to Hollywood, showcasing three distinct user journeys: investor, industry and fans, while seeking to eliminate fraud, reduce costs and increase transparency across the lifecycle of a film from pre-production right through to casting, production, distribution, marketing and exploitation.
Users of the Mogul platform will be given digital rewards for being a part of the community, regardless of whether or not they are investors, already working or retired film industry professionals, or just film enthusiasts.
“Mogul’s tech, dev and film advisory teams identified a major barrier to entry for the film industry to utilize a blockchain platform”, explains David Cormican, Emmy®-nominated Producer (Tokyo Trial, Tulipani, The Tall Man, Faces In The Crowd), Co-Founder and President of Don Carmody Television (DCTV) and Mogul Productions’ film advisory board member. “Current blockchain offerings and platforms are difficult to use and require a very different set of technical abilities— Not to mention, current investment opportunities in most blockchain-based security assets are often illiquid. Mogul’s platform eliminates all these issues”.
Mogul has built a proprietary smart wallet, continuous organization, and monoplasma rewards technology that allows all film industry participants and fans, free of charge, to use the blockchain platform in an environment that looks and feels similar to other Internet communities, loyalty platforms and investment opportunities. Mogul’s smart wallet technology allows users to create a free user account while creating a recoverable, non-custodial blockchain wallet in the background.
While logged into the platform, Mogul users can earn loyalty reward points generated in the monoplasma system that operates on a blockchain which runs seamlessly in the background. The loyalty reward points, called Stars, once earned are owned and instantly redeemable by users within the platform.
The Mogul platform, while only in beta, will allow film producers to submit their projects for financing consideration where they will be vetted by the Mogul film advisory team. Successful projects will be invited to join the platform showcase, where users will vote on which movies should receive production funding.
“The voting will be done through the blockchain (using a quadratic voting contract), ensuring all voting is fair, transparent, and community-driven,” adds Cindy Cowan, Los Angeles-based producer (Very Bad Things, Red Lights, Dr. T & The Women, Savior), and film advisor to Mogul. “This commitment to community and transparency is part of what initially attracted me to the platform and model (for production)”.
Piers Tempest, another member of Mogul’s film advisory board and UK-based producer (The Wife, Ordinary Love, Military Wives and Netflix’s Love Wedding Repeat), offered “the (Mogul) platform’s ability to pre-cultivate an audience and insight presents exciting opportunities for filmmakers looking to create more targeted viewing experiences, distribution and sales opportunities”.
On the investment side, Mogul’s industry-first continuous organization, which has been built but which has not yet been made publically available on the platform, will allow investors to invest in a professionally curated slate of feature films through a liquid security asset. The continuous organization will allow for real-time investment pricing, where the price to buy and sell assets in the Mogul Productions film fund are directly related to revenue performance of the films voted on in Mogul’s investment slate.
“Contrary to other blockchain investments, investors will go through investor accreditation, KYC/AML, and be able to connect to traditional banking channels all through the Mogul platform,” adds Jason Butcher, CEO of CoinPayments, fintech advisor for the National Crowdfunding and Fintech Association (NCFA Canada) and Mogul’s crowdfunding and digital payments advisor.
To help build this intellectual property, Mogul has partnered with leading blockchain consultancy, Aventus Ventures, alongside prominent blockchain and decentralized ledgers technology company, LimeChain.
Mogul intends to release further details on Mogul staff hires, board and advisory team placements, initial projects showcase, social engagement activities and investment offerings following an upgrade to their beta stage product later this year.
ABOUT MOGUL PRODUCTIONS (MOGUL)
Mogul Productions, established 2019, is a blockchain-based film financier and production company with a presence in Canada, the United States of America and Europe.
The Mogul platform connects investors, film industry professionals and fans through technology that allows for transparent, global investment in film projects through blockchain, where fans can engage with each project throughout the entire lifecycle from financing through to production and distribution.
Mogul’s mission is to provide inclusion, information and access to single-source global independent film financing, with a vision to become the future of film and the new gold standard across the industry for financing, production and profitability, employing a fan-first focus that aligns audiences with investors.