(Photo : Vincentas Liskauskas on Unsplash)

Hollywood has a massive influence on our society, but it isn't without its problems, with the existence of nepotism and the so-called Black List being only a few examples. It's not so  secret anymore that the movie industry is exclusive to insiders who often leverage their decision-making power at will, and sometimes ignore common sense altogether.

Unfortunately, the movie selection process depends on a small group of experts at the major studios. It's a situation in which promising scripts are often overlooked. In fact, so many good scripts have been ignored that we ended up with the Black List, an annual crowd-sourced list ranking unproduced screenplays that non-studio industry experts considered worthy of consideration. It may be surprising, but Black List movies have been very successful. During the last 10 years, about half of the Oscars for Best Picture and Screenplays went to scripts featured on Black Lists.

Since its inception, Black List movies have won over 50 Academy Awards from 262 nominations. You wouldn't guess that movies like American Hustle, Argo, The Wolf of Wall Street, and The Social Network were featured in that list.

Mogul Productions, a DeFi and NFT marketplace platform for the entertainment industry, plans to bring power back to the crowd with the help of blockchain, a technology that secures transparency and cuts intermediaries.

The recent boom in Decentralized Finance (DeFi) and non-fungible tokens (NFTs) have encouraged the creator economy, highlighting the force of crowds. Mogul unlocks opportunities for screenwriters, producers, directors, and performers to reach out to audiences and get their projects funded.

Jake Fraser, Head of Business Development, stated:

"The whole premise of Mogul is to enable filmmakers to get their stories turned into a cinematic release. For filmmakers that were struggling to get financing or launch their story into the market, we see a gap here."

Mogul Changes The Game 

Mogul bets everything on blockchain, which is capable of democratizing several processes in the movie industry. The platform empowers a voting community whose members enjoy a collaborative approach to expressing their voice and becoming part of the movie production process.

Mogul's platform operates with two types of tokens:

• NFTs, which can represent anything from movie ownership to tangible and intangible items. For example, certain NFTs can give access to red carpet premieres,  behind-the-scenes content, or provide producer credits on a film.

• STARS, which is the native token that acts as a currency inside the ecosystem. It gives holders certain perks and can be used to buy NFTs, secure voting power, etc. On Mogul, voters are able to receive rewards from the film's net proceeds.  For instance, up to 50% of a movie's net proceeds can be distributed back to the voting community, and the process is transparent.

With Mogul, Hollywood is finally open to communities, and insiders are gradually losing their grip when deciding which screenplays are worthy to appear in cinemas.

Mogul encourages movie-passionate investors to get involved. The platform ensures transparent budgeting and is aligning all stakeholder incentives to bottom-line profitability. On top of that, Mogul allows investors to get the best deals working on Mogul films compared to competitors, receiving a direct stake in the success of Mogul films.

Thanks to Mogul, movie producers can get outside financing easily and transparently. Producers with solid backgrounds and existing fanbase can leverage their position when seeking outside financing. On the other side, investors can decide which movie deserves attention and can be a success.

Mogul helps all players in the movie industry, including producers, artists, investors, and fans, connect and communicate transparently, ensuring innovative solutions for film selection and financing.