MoviePass, the innovative startup known for its bold moves in the movie theater subscription space, is back with another groundbreaking initiative. They’ve just unveiled Mogul, a daily fantasy entertainment platform tailored for Hollywood enthusiasts.
Inspired by daily fantasy sports, which lets players manage dream teams of real athletes for short-term competitions, Mogul allows users to become virtual studio heads. With a budget and “studio credits,” players can select actors for their leagues, adjusting their lineup daily.
Participants engage in weekly fantasy tournaments, one-on-one challenges, and solo contests, predicting outcomes like audience turnout, critic ratings, and award winners. As users progress, they earn digital collectibles such as signed posters, giving them a climb up the leaderboard.
Built on Sui, a blockchain platform from Mysten Labs, beta testers of Mogul will receive a digital wallet to securely store in-game currency and collectibles.
Spikes, a MoviePass executive, is enthusiastic about the venture, citing a vast untapped market. He believes, “People can name more actors than they can sports athletes,” pointing to a rich opportunity.
Initially, some doubted Mogul’s potential, questioning if film fans would compete over box office results or ratings. Yet, with over 400,000 already on the early-access waitlist, interest appears strong among niche film lovers.
Mogul currently operates with virtual currency, a crucial distinction given the regulatory challenges faced by prediction markets. This keeps Mogul clear of legal complexities associated with gambling laws in the U.S.
“Mogul represents the first step in MoviePass’s web3 ambitions,” according to company discussions. Backed by blockchain-focused Animoca Brands, MoviePass aims to intertwine on-chain rewards with the movie-going experience.
Previously, MoviePass collaborated with Sui to enable subscriber payments via USD coin, signaling their commitment to integrating blockchain technology into their services.
