What do you get when you combine two industries—finance and cinema—in the midst of major disruption? Well, you get something like Mogul Productions, a disruptive film financing (DeFiFi) company using cryptocurrency to fuel the very American dream of creating full-length features while handing part of the production process to the audience, i.e. you and I.
Cinemas, both domestic and abroad, have seen a multi-front assault within the past decade. Novel narrative experiences (e.g. virtual reality), advanced video game tech, and the ultimate whale of the lot, at-home streaming services, have all contributed to the downfall of cinema consumption, an issue infinitely exacerbated by the pandemic.
Similarly, global financial markets have seen cryptocurrency gallivanting in the face of government regulation, and what was once thought to be too risky of an investment is seeing droves of big business buyers joining the herd.
How does Mogul Productions combine these two markets? Quite brilliantly, actually.
The Mogul Productions app runs on the company’s ethereum-based currency called STARS Tokens. These tokens can be purchased through the app or won by participating in activities within the community with your first token on the house.
Creating a profile and purchasing these tokens automatically creates a unique Smart Wallet and dashboard that serves as a user’s hub for interacting with the platform. The inherent dashboard features a slick UX that’s as intuitive as it is informative. Many crypto startups can learn a thing or 10 from Mogul Productions’ ability to seamlessly integrate Smart Wallet technology into their film production platform.
STARS can be used to vote on which feature film project gets greenlit next on the company’s site. Upon writing this Mogul Productions review, three projects—MR-9, Devilreaux, and Terminal Station—are currently available on the home page awaiting tokens to help the winner push through to the production phase.
Productions that are greenlit see their voters become part of the process with greater access and rewards unlocking at higher tier values of a voter’s Access Pass.
Access Passes are offered at four tiers: All, VIP, Backstage, and Red Carpet. Each tier holds lifetime value and the purchase of a tier will net a fair amount of STARS tokens with the top tier granting two million and the lowest tier seeing a 5,000 token return. Each Access Pass also comes with an NFT badge that serves as a user’s access key.
Qualified participants of the Mogul Productions platform can purchase Mogul Digital Assets, which are “added to a community-governed pool sharing profits with asset holders based on a film’s performance.”
Two hyperlinks at the top of Mogul Productions’ homepage will direct you to each respective pool and all accompanying data, a great resource for users, and an even greater show of transparency.
Mogul Productions CEO, Lisa Sun, has been inside the film financing and crypto clubhouse since 2015—she’s naturally fit to lead a company combining the two sectors. David Cormican, an Emmy-nominated producer with a strong track record on Netflix and other media platforms, serves as Mogul’s Chief Production Officer.
Okay, so what does all of this add up to? What is good or bad about this compelling merger of crypto-tech and film financing? Is this thing going to SHAKE (not stir) the life back into a dwindling pandemic film market like the favorite cocktail of a certain cinematic spy?
The short answer: Yes.
Now for the longer explanation.
The DeFiFi space belongs to Mogul Productions. From the slick layouts and interface to the security and transparency of their STARS token platform, you can tell that Mogul Productions has been building this thing for quite some time, and they have—two years. That’s a lifetime in the still budding cryptocurrency market.
The ability to use STARS to vote upon and then interact with a film’s production is actually exhilarating. The top tier of the Access Pass system really does feel like you’re getting a rare, backstage glimpse into the making of a big-budget feature with unprecedented access to exclusive content, physical & digital rewards, and so much more. In this regard, Mogul Productions does a stellar job in scaling up the platform’s value dependent on the level of interaction and investment a user agrees to.
If you’re still on the fence about cryptocurrency but remain a die-hard Die Hard fan, this is the perfect platform to whet your appetite for Defi investing. For the seasoned Defi vet, Mogul Productions is your elephant in the room and shouldn’t be ignored. And, seriously, who doesn’t like movies?