Mogul has opened its platform for users to purchase access passes after seeing its user base surge to over 27,000 users.
Mogul Productions, the decentralized film financing and movie-based non-fungible token platform, has opened its Access Pass sale to the world.
The company has a limited number of access passes and has laid out the options on its website.
Read more at CoinTelegraph
How the Vancouver-based founder swapped facades and foundations for frontier tech.
The movie industry is usually one that’s credited with innovation and development. But there’s one area that hasn’t changed much, at least over recent decades.
With the popularity and reach of cryptocurrency growing by the day, it’s not too surprising that a new company would come along and apply it to the struggling film industry.
But there’s still an undeniable milestone in the announcement that Mogul Productions, a startup aimed at bringing DeFi to filmmaking, has started post production with a movie funded using blockchain technologies.
Rob Prior’s Wolf of Wall Street NFT is titled “Reign of Money…. what the f$ck”. The NFT is an ERC1155 token built on the Ethereum blockchain. The token can be viewed on OpenSea here.
Paintings are difficult to make into NFTs. An artist can digitize a painting, but it’s nearly impossible to prove that the NFT will be the only instance of that painting. There’s always the question – “but what about the original?”
For the first time in history, Rob Prior and Mogul Productions will be converting a one-of-a-kind painting into a provably verifiable NFT, where it will only live as an ERC1155 token.
Inside the metadata of the token, the purchaser will be able to access the following items:
1. A full rendering of the painting
2. A video of Rob painting the original painting
3. The animated version of the painting
So, the purchaser will be able to see the creation of the painting within the token itself! Plus, all viewers at the Proof of Origin event will see Rob burn the original painting live on camera.
Mogul is excited to be holding an auction for an NFT based on an original painting depicting the Wolf of Wall Street. Produced by the talented artist Rob Prior (of Marvel & DC Comics), the entire process will be livestreamed on your Mogul Dashboard after logging in. If you are unable to access Mogul for whatever reason, you can watch the full livestream on YouTube here: https://youtu.be/C-4Efre015Y.
Once the painting has been completed and the work memorialized in NFT format, the original work will be burned to ensure the NFT is the only remaining version of this piece!
The auction will take place on the Mogul Productions Dashboard shortly after the Rob Prior Proof of Origin event concludes (5pm EDT – 8pm EDT). You will need to be logged into your account, and you will need a MetaMask wallet containing enough STARS to cover your bid, and enough ETH to cover the required gas fees.
You can purchase the STARS token on our website here. Or alternatively you can go ahead and use a service like Uniswap. You will likely get a better price with the second option, as STARS are sold at a fixed price on Mogul. Here’s a guide on Uniswap and how to use it.
Please be aware that due to the length of time it can take for transactions to be processed on the ETH network, any bids submitted shortly before the cutoff time may not be received in time. In this case, your funds will be returned to you minus the gas fee. To avoid this, we’d recommend you increase the gas fee to the highest level you’re comfortable with (10-20% above the current gas price potentially) as this will dramatically reduce the amount of time it takes for your bid to process.
Before the Auction, you will be able to watch the livestreamed Proof of Origin event (5pm – 8pm EDT) on your Mogul dashboard (you can also watch it here: https://youtu.be/C-4Efre015Y). Below the video player you’ll find the auction section. This will display the starting price we have set.
Once the livestream has ended, the auction will begin and run for 24 hours. As you can see in the screenshot below, you will be able to see the current bid, whether or not you are the highest bidder, and your current STARS balance.
If you decide to place a bid, a window will open where you can enter the amount you would like to bid. This must be greater than the current highest bid. The page will refresh when a new bid is entered, so you won’t need to constantly refresh the page.
Once you’ve submitted your bid, MetaMask will open for a two stage process. First, you will be asked to approve the transaction, this will incur a small gas fee.
Once that has processed, you will be asked to submit the bid itself, which again will incur a one-off gas fee. You may want to opt for a higher gas fee if it is close to the auction’s end and you’re trying to squeeze in a last minute bid.
Once the auction is over and the final bid has been accepted, the winner will be automatically announced on the Mogul Dashboard.
More Information
You can find information about how you can view and interact with your Mogul NFTs here.
NFTs have been all the rage in cryptocurrency for at least six months now, and there are many reasons why people love NFTs.
Most crypto users and members of the Mogul community know NFTs as valuable digital collectibles you can buy and sell on marketplaces like OpenSea or Rarible. But in a broader sense, NFTs simply represent proof of ownership.
Think about it.
Mogul Access Passes are also NFTs. You can buy and sell them but Access Passes are not collectibles themselves. An Access Pass is not a piece of artwork per se (though it is beautiful!).
Here’s the thing. When people hear about NFTs and proof of ownership in the same sentence, they assume that as long as they own an NFT, they get to keep it forever. That is the fundamental value of what an NFT is supposed to provide. Proof of ownership for as long as you hold onto the NFT.
That said, have you ever asked yourself what happens if an NFT gets taken off of the server hosting it?
How will you access your NFT if it’s hosted on a centralized server like Amazon Web Services (AWS) and the person or company responsible for the AWS account holding your NFT stops paying the bills?
A blockchain file transfer protocol called IPFS is the answer.
It’s what Mogul NFTs are built on, and it’s what guarantees you will own yours for as long as you want to.
Amazon is no doubt a huge company. AWS is one of the most trusted cloud-based file storage services in the world. In fact, incoming Amazon CEO Andy Jassy made his name within the company because he helped found, develop, and grow AWS into a revenue-generating machine for Amazon.
Many of the digital assets you and I take for granted when we search for them online are stored on AWS or competing cloud services owned by Google, Microsoft, etc…
However, as much as we take those cloud services for granted, the files stored on individual user accounts can disappear if individuals and businesses stop subscribing to the service.
This means that if you buy an NFT stored on a cloud somewhere, and the people paying the bills to host your NFT on that cloud stop paying, your NFT is gone for good. It doesn’t matter that you have proof of ownership, and it doesn’t matter if you paid $1 million for that NFT.
The whole reason IPFS exists is to decentralize file storage so that nobody can make your intellectual property disappear.
Let’s briefly break down the difference between a centralized server and IPFS.
In order to understand how IPFS works, you need to understand how users access files on the Internet today, and how IPFS functions differently from that.
Let’s say that you’re looking to download an image off of the Internet. Your computer finds that image using a combination of your IP address or the URL you type into your address bar. Using technology to search for an image in this fashion is referred to as location-based addressing.
Location-based addressing makes it easy for you to pull up an image as long as a centralized server is powered on and working properly. Using a centralized server offers two advantages. First, it means you can have an administrator take care of that server. Second, it means that you can get access to the content you want quickly.
One of the disadvantages of traditional servers is if the server goes down you can’t access the image. Another is if the company chooses to change the NFT image, then can at any time without any notice. No questions asked!
IPFS stands for InterPlanetary File System. It’s basically a fancy name for a decentralized file system that exists on the blockchain. If you’re an experienced crypto user and are aware of other big projects outside of Mogul, you might have already witnessed IPFS in action.
IPFS is a decentralized, peer-to-peer file storage and sharing protocol. Instead of relying on location-based addresses to point to digital assets, it uses content-based addresses.
IPFS assigns strings of characters called hashes to individual files stored on the protocol. Instead of specifying the location of the file you want, you specify the exact content you want using the appropriate hash.
If there are multiple copies of a given file, each will have its own hash, so that users who are supposed to have access to that file can still have their own copy, but the blockchain itself can maintain efficiency using those unique hashes.
When a crypto project needs to store immutable data, it is stored as an individual object that can be no larger than 256 kB. That doesn’t mean you can’t store larger files on IPFS protocols. It just means that multiple objects need to be attached together in order to exchange larger files.
The main advantage of using IPFS over cloud storage is that blockchains are immutable. The data on them can’t be manipulated, changed, or counterfeited. Once a file is uploaded and assigned a hash, it stays there, just the way a Bitcoin transaction registers permanently on a public ledger.
Mogul NFTs are stored using IPFS. This means that your Mogul NFT is yours forever (or until you’re ready to part ways with it). No need to worry about a major hack stealing a unique and valuable collectible from you. No need to worry about your Access Passes disappearing from your public profile all of a sudden either.
You’ve probably never thought of the idea of losing NFTs before because it’s not something that often gets highlighted in the marketing of projects or collectibles that sometimes sell for millions of dollars.
Now that you know it’s possible to lose an NFT because of human error or somebody not paying the bills, you understand the true value of a Mogul NFT that lives on IPFS.
Like a star on the Hollywood Walk of Fame, Mogul NFTs are meant to be set in stone. Or in this case, set on the blockchain. No matter what Amazon, Google, or any other centralized cloud storage service has to say about it.
Loyalty reward programs have become a necessary and integral part of the shopping experience. From the arm’s length of coupons at CVS to the grocery-store gas discount that takes 5 cents off a gallon, reward loyalty programs are everywhere. That isn’t new news. However, despite the reward industry’s tremendous impact on shopping, there are still improvements that can be made. Chiefly among them are security, transferability, expiration, and ownership.
Mogul’s STARS Rewards are uniquely positioned and designed to improve upon these industry pain points. STARS grants film fans with total ownership and control over their rewards as well as all the freedom of transferability.
Even long before the scannable keyring card, or the REI Co-Op dividend check, there were the campaigns to cut out cereal box tops to get collectable PEZ dispensers. Even the McDonalds Happy Meal which was first rolled out in the 1970s featured a circus-themed toy.
Customers will go out of their way to earn rewards they deem worthy. A KPMG survey found that two-thirds of customers said they made a special trip to shop at a store just to earn a reward from a loyalty program. That same survey found that 60% of respondents admitted that they would shop at a store even if it had slightly higher prices just to earn a reward.
Customer loyalty has also proven successful in the film industry. One of the most successful campaigns to come out of Canada in the last decade has been Scene Points. They have been able to sign partnerships with Universal and boast more than 10 million members across Canada. The platform enables members to earn and redeem points for movies, downloads, rentals, and concessions. Members also earn points at restaurants across Canada.
However, despite the tremendous success of the organization, the company was founded in 2007, and the program has not evolved much since then. We live in an age where technology accelerates rapidly so early innovators are limited in seeing the future potential of their technology.
Even one of the Wright brothers who invented the airplane said that “No airship will ever fly from New York to Paris. That seems to me to be impossible.”
With that said, despite its success, Scene Points has several drawbacks that would benefit from blockchain technology. Some of the main drawbacks are:
One of the most commonly cited complaints from customers of rewards programs is that the points expire. According to Clarus Commerce, 56% of shoppers say they changed or abandoned a purchase when they realized their points had expired. The customer needs to feel valued, and that means their rewards should feel valuable, both now and in the future. A perfect example of this approach’s effectiveness is the strategy used by Amazon Prime. With Prime, there are no points that expire, and members get rewards with every single purchase. That is part of why Prime members spend more than double what non-Prime members spend every year.
Another major problem facing loyalty programs is rampant fraud. According to Strategic Finance, estimates have found that fraud has affected over 70% of loyalty programs. Just last year, Scene card holders lost thousands of points due to fraudulent activity. Many loyal customers lost their valuable rewards because they had been redeemed fraudulently. When Cineplex finally caught on to this activity, they responded by freezing customers out of their accounts. This only further aggravated the already frustrated Scene cardholders, many who took to social media.
At the end of the day, Scene Points belong to the company, not the customer. If Cineplex wants to take away the points, they can. They also dictate how the points can be spent. They do not allow points to be transferred between reward members. The limitations of this system lessen customer experience and impede its growth. Having the freedom to use their points how they want would drive customers to accumulate more points and boost the overall ecosystem.
Blockchain provides the ultimate solution to this problem. By providing irrevocable tokens as reward points, customers can feel confident in the long-term value and redeem-ability of their points. Their points never expire and as a result the long-term retention rate of loyal customers will increase. Their rewards points will remain forever on the blockchain, and customers will remain forever a part of the rewards program.
One of the biggest advantages that blockchain technology provides is unparalleled security. By using cryptographic encryption, blockchain secures the rewards platform against hackers. This reduces the risk of fraud and assures companies that their rewards program cannot be exploited. More importantly, this promotes customer faith in the system and increases the likelihood that they will enroll and participate.
A 2019 Harris Poll conducted in the U.S found that 71% of participants are less likely to enroll in a loyalty program that collects their personal information. This is mainly due to the customer’s concern about the security of personal data. In the aftermath of big data breaches, security has become one of the main concerns for consumers. A 2018 study by ExpressVPN discovered that 90% of people worry about data security, citing theft and fraud as the main reasons. Blockchain offers the solution to this problem, potentially enticing a huge customer base that previously wouldn’t participate due to security concerns.
One of the unique aspects that blockchain technology permits is a revolutionary ability for complete ownership and transferability of rewards points. One of the main drawbacks of current rewards programs is that the customer points belong to the company, not the customer. This means that a company can take points away from customers for any reason, and this creates a lack of faith in rewards points from customers. In addition, most rewards programs prevent members from transferring points between one another, and this can dissuade customers from accumulating as many points as possible.
Blockchain dynamically addresses this problem by handing over point ownership to the customer. Companies can no longer take points away from customers on a whim, and as a result, customers can feel secure about their points always being there. Also, blockchain allows complete transferability of points between members. Now members can give their hard-earned points as gifts to their friends, promoting enrollment from new members eager to redeem these gifted points and increasing loyalty potential with new members.
Mogul offers totally unique rewards that are special to the film industry. Those rewards include things like executive producer credit, thank you credits, and dinner with a director. These A-List rewards are only one part of the Mogul Rewards system. Other tiers include one-of-a-kind movie posters, rare NFTs, and set-used memorabilia.
Mogul’s blockchain-based reward model incentives platform usage through the STARS token. Throughout Mogul’s community-building process, fans are rewarded for their involvement in greenlighting and supporting films from script to screen. The STARS token powers the Mogul Community, and gives fans and screenwriters total access to Hollywood. STARS tokens are redeemable for bespoke rewards most movie fans would never have access to.
Rewards programs are a time-tested way to increase customer engagement and retention. However, many of the challenges pervasive in the current system stifles the true capability of these programs for both the company and the consumer. Both existing customers as well as a huge number of potential customers are eager for a viable solution. Blockchain solves these problems, and Mogul’s blockchain-based rewards platform is a revolution in the rewards industry.
By using the STARS token Film fans get access to one-of-a-kind rewards that never expire. These rewards are secure and completely owned by the customer. The STARS token unlocks an entirely new level of customer engagement and satisfaction never before possible without Blockchain.
Established in 2019, Mogul Productions is a blockchain-based film finance and production company with a presence in Canada, the United States of America, and Europe. Mogul’s platform connects contributors, film industry professionals, and fans through technology that allows all users to engage and participate with each project throughout its entire life cycle.
Today, the world’s centralized banks are printing money at unprecedented rates to plug the holes of a sinking global economy. Unlike before when national currencies were still pegged to the gold standard, most of the currency being printed today isn’t backed by anything at all. Decentralized solutions for alternative and more direct payments are emerging to bypass these antiquated, centralized systems.
Hence, decentralized finance (DeFi) has been one of the fastest-growing sub-industries of blockchain. In 2020 alone, DeFi’s Total Value Locked (TVL) grew from $660 million in January to over $11 billion in November; an increase of over 400%. Mind-blowing! DeFi technology is used across software applications, lending services, and now with Mogul… film.
Mogul allows filmmakers to go beyond centralized, massive production houses. Using our STARS token and continuous fund, filmmakers and movie fans alike have a decentralized voting and financing framework where standout films are chosen for the big screen.
To learn more about cryptocurrency and its applications, head over to our website.
Within the field of DeFi, there have traditionally been two major use cases: dApps and lending. Lending has more to do with what we just previously touched on with TVL, whereas dApps are sort of the smarter, younger cousin of banking applications that users are already familiar with. However, there are still new use cases emerging, like what we’re doing with DeFi and film.
One major difference between a smartphone app that you have downloaded on your device right now and a dApp is that dApps rely on peer-to-peer servers to run the backend code. Traditional smartphone apps use standalone computers, or single cloud servers to run their code. Popular examples of dApps include CryptoKitties, UniSwap, and OpenSea. Of course, CryptoKitties is an example of a non-fungible token as well.
There are also some outside-the-box ideas for dApps. One example is Augur, which describes itself as the world’s most accessible, no-limit betting platform. Another example of a unique dApp is PoolTogether, a decentralized, no-loss lottery application that allows all participants to get money back with one participant winning all the interest from a shared pool.
Loans are one of the fastest-growing markets within the DeFi space. Similar to what banks have been able to do for centuries, crypto holders can earn interest on their digital assets by loaning them out. Borrowers then have to put collateral down to secure the loan, just like a person or company would have to do in the physical world.
Our development team has created a quadratic voting module within our platform that allows STARS holders to earn up to 0.5% yield per day on their balance for casting and staking their votes. Our protocol incentivizes users to voice their opinion. This type of voting reflects decisions that are representative of the entire community, not just whomever has the most tokens.
Ethereum co-founder Vitalik Buterin has recently commented both on the potential for blockchain-based voting, and on quadratic voting (QV) specifically.
He said “The technical challenges with making a secure cryptographic voting system are significant (and often underestimated), but IMO this is directionally 100% correct.” Read Vitalik’s paper on QV here.
Mogul uses the Ethereum blockchain and we understand the potential of the technology’s impact on voting.
Visit our website to learn more about how Mogul is using DeFi for film.
Decentralized finance and technology will continue to grow as the world continues to crave alternative solutions to centralized financial structures. DeFi products will revolutionize the way that the average person borrows, saves, and spends money. However, far beyond applications like lending, the possibilities for DeFi to extend to more than money are endless. It will be exciting to see how the next year of development will advance the industry.
At Mogul, we’re exploring applications for DeFi and the film industry. Stay ahead of the curve on decentralized finance and other crypto topics by visiting our website.
What is DeFi in crypto?
Decentralized finance (DeFi) has less to do with cryptocurrency than it does the financial technology that runs in the background of crypto. DeFi is a guiding philosophy and design principle behind alternative asset classes and related technology. It is a move away from massive, centralized production houses that can bring power to the crowd.
Mogul Productions, established 2019, is a blockchain-based film finance and production company with a presence in Canada, the United States of America and Europe. Mogul’s platform connects contributors, film industry professionals, and fans through technology that allows all users to engage and participate with each project throughout their entire lifecycle, from financing through to production and distribution.
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