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Mogul Productions: Funding independent cinema on DeFi

Cryptos

6 min read

Today we are going to talk about an original project. Mogul Productions is a decentralized crowdfunding platform. Yes, it exists now and it hasn't been long! The platform was launched in February 2021 and is already enjoying great success with more than 40,000 registered users. The company also plans to release NFTs also related to the film industry.

Mogul Production has a native token: STARS. Indeed, the name is very well chosen 😉

In this article, we propose to present the Mogul Production project to you and see what the impacts would be on film production, in general.

As we often tell you on this blog, the field of blockchain goes beyond that of finance, and this is therefore the opportunity for us to show it to you 😉

Presentation of Mogul Productions

Built on Ethereum, Mogul Productions is therefore a decentralized financing platform for independent films called DeFiFi. This then brings new opportunities for artists, actors and especially film producers. Beyond financing, fans and spectators will be able to be involved in the filming process for example. They will be able to meet the actors, submit ideas and generally participate in the entire project, while supporting the making of the film.

The most interesting thing, however, remains the fact that you can earn money with the native STARS token. We know this is a topic that interests you and don't worry, we'll explain how it works.

Presentation of the decentralized finance platform (DeFiFi)

For any filmmakers who are struggling to secure funding, they can now find funding through DeFiFi. The barrier to entry is extremely low because everyone can become an investor in a future film.

What are STARS tokens used for:

Before telling you how to actually earn money with your STARS, it is important to understand and know the tokenomics STARS tokens.

Tokennomics:

In April, the 20,000 early adopters of the platform received an airdrop of 400,000 tokens received for free. The maximum token supply is 400 million tokens and there are currently 228 million in circulation.

We can do several things with the STARS token. Here are all the things you can do with STARS tokens:

Naturally, we can finance projects initially.
You can also vote for certain elements of certain films.
It is also a governance token that allows us to take part in the Mogul Production platform itself.
One can also earn interest by participating in a pool of pooled capital from the profits of films that have been financed on Mogul.

How to generate passive income with STARS?

Income can be earned through the “Mogul Growth Farming” protocol. In fact, the protocol is a fork of Sushi Master Chef, which then allows STARS holders to earn even more STARS! The farming, this is certainly what gives additional value to this project.

You should know that the protocol has been successfully audited by Zokyo Labs and you can check the certification on the site, for total transparency.

There are actually two separate pools:

There is a pool composed only of STARS tokens where participants can directly stake their STARS tokens to obtain rewards.
There is another pool STARS_ETH. Here, it is about becoming liquidity provider in which one must deposit STARS and ETH tokens equitably on Uniswap to receive LP tokens. Then, the STARS_ETH LP tokens received can be deposited into the STARS Master Chef pool to earn other STARS tokens! A virtuous circle of money, you might say.

What are NFTs used for on Mogul Productions

In addition to the STARS token, the platform has made NFTs available. This provides an enriched experience on the platform. There are 4 different levels with NFTs. Here are the different passes available:

All Access Pass (1000 available),
VIP Access Pass (250 available),
Backstage Access Pass (100 available)
Premier Red Carpet Access Pass (25 available).

Depending on the passes you have, you may for example have the possibility of being an actor/appearance in certain films. With another level of NFT, we can attend a day of filming. Likewise, it is possible to meet the actors or the film crew or to finally be invited to the screening!

In fact, each film offers particular and distinct rewards.

Know that you can access your NFTs easily, with a WEB3 wallet type Metamask For example. NFT Access Pass holders can trade them on a marketplace such as Rarible or opensea.

Mogul Productions is expected to launch its own native NFT marketplace, where users will be able to freely trade their access passes. Cool, right? there are also artistic NFTs that will be made available to collectors.

There will also be physical versions of the NFTs which will then be real passes to be used in real life. Upon receipt of physical NFTs, users will then be able to verify them on MGLNFT.com.

Final word on Mogul Production

If you are already a fan of corwdfunding platforms, it will be really easy for you to get started on Mogul Production.

If you like movies, cinema in general and want to support certain films, then obviously this can be a good option for you.

The first film financed on Mogul production was "Bonded" which is based on a true story. It is about the life of a young Mexican who enters illegally in Los Angeles to work there. The film wants to show the realities of immigration and is intended to be an awareness campaign...

The subjects covered are varied and we can find different types of films, but what is certain is that we are far from Blockbuster or action films which require astronomical budgets...

What can blockchain bring to the cinema industry?

I don't know if you know this, but in Hollywood, there are only 5 major studios which share almost all of the big box office films that we watch in the cinema. You know these studios, if only by name: Universal Pictures, Paramount Pictures, Warner Bros, let's not forget Walt Disney Pictures and Columbia Pictures.

The films presented at the box office are largely produced by these production companies with enormous capital. Here again, we don't teach you anything.

In fact, beyond these big-budget studios, there are very few slots left for other directors who are struggling to find financing. This also prevents cinema from diversifying. Many directors cannot find financing if they have a way of shooting or a script that deviates from the predefined rules of Hollywood studios. This is what also indirectly explains the homogeneity of the films presented.

Many temporary workers in the entertainment industry are also dependent on the contracts they can find. Obviously and unfortunately, it is very random and the income is therefore random and depends on the opportunities that present themselves.

It is in this context that Mogul Production proves to be very useful and saving for the cinematographic scene. That's the least we can say. Being able to support independent directors is a real opportunity, actually. Likewise, if you are a director and you are looking for funding, why not try Mogul?

In addition, the team is very responsive and does many lives with the community. She shows herself to be invested and the project indeed has everything to succeed :)

We can wish them all the success they deserve!