Since the dawn of modern movies, and even before with live plays and productions, there was only one way for producers and creators of these pieces to raise funds, they pitched, they hoped, and they prayed the audience would come and watch. Now, these producers and creators have new ways of raising funds, monetising their work and those who support them have a way to directly participate in the industry, not only to fund the films but also earn a slice of the revenue.
Non-fungible tokens (NFTs) had a spectacular run in 2021, with the total trading volume surpassing $23 billion. This includes expensive digital artworks worth $92 million, collectible items valued at $12 million as well as in-game assets. However, most of these NFTs exist as static items on the blockchain available for buying and selling on digital marketplaces. It’s an underutilization of resources because the technology behind these NFTs enables them to do much more than existing as standalone pieces.
Mogul Productions, a platform transforming how movies and other forms of art and entertainment get funded through decentralization, partnered with Bybit cryptocurrency exchange platforms, to debut Colombian Artist Homero “HG” Ganem’s Manga-inspired NFT artwork at Art Dubai, where the first piece was sold in under 10 seconds.
Three one-of-a-kind dresses worn by actress Julianne Moore during various film events will be sold as NFTs through an auction on April 3 and will be open for a week. The event is the result of the collaboration between SINCE3000, a company that creates NFT collections and supports 3D artists, Live Rocket Studios – a New York-based commerce and content production company that leverages the latest technological advancements, including non-fungible tokens (NFTs) – and 3D Artist Isaac Udogwu. The NFTs will be auctioned on Mogul Productions’ platform.
Mogul Productions native $STARS token are listed on MEXC Global under the STARS/USDT pair.
China’s mixed signals regarding its local NFT industry have investors confused about where the local market may be headed. ake Fraser, head of business development at Mogul Productions — a decentralized film financing and movie-based NFT platform — believes that there is still a lot of opportunities when it comes to the Chinese market, especially with NFTs.
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