TORONTO, Feb. 18, 2021 /PRNewswire-PRWeb/ -- Mogul Productions, the decentralized film financing (DeFiFi) platform that gives everyone a voice in the creative process, launches its platform. Starting today, users can create an account to have the chance to be whitelisted for future access to STARS tokens and check-out the films in the Showcase that will be voted on with STARS when the platform is released on mainnet.
Gagan Grewal, CEO of Mogul Productions, expressed, "With all the major streaming platforms experiencing global viewership spikes in 2020 and predictions of the current $50.11 billion market growing 21.0% each year, it's clear that there is a nearly insatiable demand for great content, and yet, it's incredibly difficult for independent creators to get their stories financed and made into films. The exploding demand vs. insufficient supply is one of the most unbalanced markets across industries. At Mogul, we are giving filmmakers, fans, and film financiers a voice in the creative process, ensuring that more great films get made, and helping to right this asymmetrical market."
In the current entertainment ecosystem, indie filmmakers have a hard time getting their ideas financed, fans have no say in the process, and financiers have very little transparency into what is happening with their investment. Mogul Productions will deploy blockchain technology to address these myriad issues, creating an entertainment ecosystem that works for everyone.
In the Mogul platform, creators gain opportunities for collaboration and the chance to get their films financed by the Mogul community. If their project is greenlit, creators also receive production oversight from the experienced Mogul team and a built-in fanbase to support the film's success upon distribution.
Movie fans will be able to engage with the filmmakers and their favorite projects in deeper, more meaningful ways: from voting for which films will receive funding, to earning STARS that are redeemable for prizes like one-of-a-kind film posters, red carpet tickets, and invitations to exclusive events.
Mogul also plans to release a digital asset that will enable compliant participation in profit sharing from Mogul-produced movies. Financiers will also benefit from greater transparency into how film funds are being deployed during production as well as how profits are being distributed after release. Mogul's team of experienced producers provide oversight to ensure productions stay in-budget and on-schedule.
Upon mainnet launch, users will be eligible to receive STARS, the platform's in-app currency used to vote on which films receive funding. Mogul harnesses the power of the crowd in its decentralized quadratic voting system, which ensures users with more tokens do not have undue influence over the process. All votes are counted using a formula that makes each vote cast by the same user exponentially more expensive, preventing vote buying and restricting wealth dominance.
Mogul's non-custodial Smart Wallet, which will be live upon mainnet launch, is designed to make it easy for anyone, regardless of crypto knowledge, to hold and use STARS. The automated password reset flow gives users the ability to reset their passwords in a way that is familiar based on other web experiences without ever giving Mogul access to their private keys.
The Mogul Continuous Organization is another unique invention of the Mogul team. By deploying Mogul Continuous Organization Technology, it automatically delegates cash flow management to a community governed organization to ensure constant liquidity for financiers.
To submit a film project to be considered by the Mogul community for financing, sign up for an account on the platform at my.mogulproductions.com, build-out your profile, and connect with fellow creatives.
For media inquiries, please contact Leila Wolf at (310) 260-7901 or Leila(at)MelrosePR(dot)com.
About Mogul Productions (Mogul)
Mogul Productions is a decentralized film financing (DeFiFi) platform that connects creators, movie fans, & film financiers in one space to ensure the best films get made by giving everyone a voice. Leveraging blockchain technology and a tokenized model, Mogul incentivizes participation and engagement. Using the Mogul in-app currency and utility token (STARS), users can vote for their favorite films to be greenlit and participate in key decision-making aspects of production. STARS holders are key governing bodies of the Mogul platform, including the profit-sharing pool of capital accruing from Mogul-funded movies. Mogul's production team and advisors are award-winning Hollywood veterans who have written, directed, acted in, and produced diverse slates of films and TV shows.
Leila Wolf, Melrose PR, (310) 260-7901, [email protected]
SOURCE Mogul Productions