Mogul Productions has extended their decentralized film financing platform to the shores of Asia following the listing of their STARS token on ProBit Global.
Aspiring filmmakers, particularly in the independent film sector, face a considerable hurdle due to the unproportionate oversight retained by big studio productions leading to a lack of transparency for potential funding.
Mogul Productions, the brainchild of Emmy-nominated producer David Cormican, aims to disrupt the traditional funding process with a unique solution that connects the mutual interest of creators, fans, and film funding to provide equal footing for the development of future cinema.
Mogul utilizes blockchain technology to provide oversight of fund and profit distribution, a value proposition resonating with the 1,000 projects onboarded during the first day of launch. The platform also successfully completed its first official funding efforts for Bonded.
STARS tokens serve as the lifeblood of the ecosystem, granting holders access to unique rewards and experiences while filmographers benefit from the enhanced exposure through the cinephiles represented by Mogul holders. The total number of tokens held will unlock a specific rewards tier ranging from physical collectibles to exclusive fan services.
Staking STARS grants voting rights for holders to participate in the film financing process while also earning a maximum bonus of 0.5% in the process. Quadratic voting provides a key equalizer to deter any potential underhanded manipulation as each successive vote will incur a cumulatively higher cost.
Those with film aspirations can also connect with Mogul staff for various support services. Additional services also provide access to industry professionals designated as Mogul Verified Industry Users.
Mogul Productions was also on hand to host NFT Livestream: Proof of Origin in May. The event featured Rob Prior of Marvel and DC Comics fame burning an original artwork with the subsequently minted NFT sold for 5.5M STARS or the equivalent of roughly $185,000, of which half the tokens were burned from the supply.
The burn and mint live stream follows in the steps of a group of cryptocurrency users who burned a piece called Morons by artists Banksy after which the NFT was minted and sold on OpenSea.
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ABOUT MOGUL STARS
Mogul is a decentralized film financing platform that brings creators, fans, and film financiers together; allowing everyone to play a part in the next big blockbuster.
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