The film financing sector is outdated, offering investment opportunities only to well-connected, high net worth individuals. Mogul Productions is creating a new system to innovate within this industry, utilizing blockchain technology to offer film financing opportunities to regular investors and film connoisseurs previously excluded.
To bring this project to life, Mogul has announced a partnership with Chainlink, the top blockchain based decentralized oracle. With access to off-chain data made available through Chainlink’s platform, Mogul will be able to integrate accurate movie budget and profitability data. This is the final step to grant investors access to audited, fair market dividends for their financial contributions, distributed in a more efficient and transparent manner.
Reliable Off-Chain Data Is Essential
As the ninth largest cryptocurrency by market capitalization, Chainlink has been vetted and used by many decentralized platforms to integrate real world data into their smart contracts. Correct data distribution is critical in the film financing industry, as the large number of transactions and parties involved need to be accurately recorded, analyzed and reported. Previously, this has been a significant bottleneck in the industry, so Mogul is introducing a Collection Account Manager (CAM) to serve as an unbiased third party auditor for every transaction. The CAM will analyze costs, revenues and the fair distribution of profits that will automatically be sent to film contributors.
For the CAM to properly relay this information to smart contracts, a blockchain oracle is needed, acting as the secure bridge that will trigger the execution of user payouts. This is where Chainlink comes in, and why this partnership is so integral to Mogul’s feasibility and future success. Chainlink will also deliver the decentralized price feed for USDC/ETH, an important aspect to guarantee the receipt of the correct amount of Ether dividends extracted from US dollar-denominated film budgets.
Mogul Productions Is Opening Doors
With its alpha launch preparing for release, Mogul will give film creators, producers, financiers and fans a better way to bootstrap movies. Mogul runs using a dual cryptocurrency system, with one of its native tokens, STARS, giving users the right to vote for their favorite movies and actively participate in the production process. Using Mogul’s platform, independent filmmakers can start curating their audience at the script level, previously impossible to any entity outside of the top cinematic production companies.
Through increased transparency and efficiency from distributed ledger technology use, Mogul can produce movies at a lower budget than typically possible for independent creators. On top of this, Mogul’s community of movie buffs will give film distributors a much better idea of the production’s potential ROI based on initial fan sentiments. By bringing together a decentralized community that will benefit from the ecosystem, Mogul creates a production path that provides every stakeholder greater insight into each project.
Founded and overseen by some of the most respected names in the film industry, producers who have released over 95 feature films and generated more than $425 million in box office revenues, the Mogul Production platform is gearing up to redefine how film financing takes place.