Moviepass, the startup that left its mark with its movie theater subscription service, has always managed to shake things, and its last company is no exception.
The company announced on Thursday Mogul’s beta launch, a new daily fantasy entertainment platform specifically designed for the Hollywood industry.
To understand what Mogul is, it is important to first overvalue the concept of daily fantasy sports. This subcategory of fantasy sports allows players to compete on short -term periods, instead of a full season. The players assume the role of team administrators, creating their own dream teams formed by real world athletes and gain points based on how these athletes perform in the Royal Games.
Mogul takes this idea by allowing users, who are probably passionate enthusiasts of films interested in this type of thing, act as heads of study in the film industry. Players are tested with a budget and “study credits” (game currency) to spend on selecting actors for their leagues.
Users can update their line of film actors every day. Then they participate in fantasy -style tournaments that last approximately one week, more individual competitions and solo challenges. Participants give calls to the results of several things, such as the participation of the audience, the critical grades and the possible winners of the awards.
As users go up, they gain digital collectibles, think of signed posters and memories, which help them upload the classification.
Mogul is based on Sui, a laychain 1 laychain platform and an intelligent contract platform developed by MySten Labs. Beta testers will receive a digital wallet to safely store their virtual currency, rewards and collectibles in the game.
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Moviepass is taking a bold leap with the introduction of Mogul, since never before had been done. But Spikes believes it is a great market that hopes to be used. He said: “People can name more actors than can name the probable sports athletes. So I think there is a great market opportunity there.”
Initially, when we first knew about Mogul, we do not anticipate that he would take off, at least not in the early stages. We ask ourselves if there are many fans of the films willing to compete with ethers on trends or box office grades.
However, we can have underestimated its appeal. The company states that more than 400,000 people have already registered in the early account waiting list. It remains to be seen that you can maintain this level of interest prior to the official launch, but it could be popular among the followers of the niche film industry.
Duration Our initial conversation with Spikes, the tycoon positioned as a predictive market platform. Later, they told us that a more appropriate description would be to classify Mogul as a daily fantasy sports platform, but it can evolve to include this functionality in the future. For now, thought, Mogul operates exclusively with virtual currency.
This distinction is important, especially taking into account the regulated nature of daily fantasy sports, in opposition to prediction market platforms, which currently exist in a legal gray area. Kalshi, for example, has been in legal communicated with state game regulators.
“It is murky to be approved. There are different types of authorizations, depending on the markets that you are because in the US. You must go to the State by state. It is literally like a Chinese puzzle with things all over the place,” Spikes said.
Mogul represents the initial phase of the Long -term web strategy of Moviepass. The company has previously revealed its intention to provide chain rewards to attend movies. It is also supported by Animoca Brands, a venture capital firm specialized in blockchain technology.
Last year, Moviepass associated with Sui to allow subscribers to make payments with USD Coin.
