MoviePass Launches Daily Fantasy Platform for Film Fans

MoviePass Launches Mogul: A New Fantasy Platform for Film Enthusiasts

MoviePass, renowned for its innovative approach to moviegoing, continues to disrupt the entertainment landscape with its newest project.

The company announced the beta release of Mogul on Thursday, a novel daily fantasy entertainment platform tailored for the Hollywood community.

Understanding the Core Concept

To fully appreciate Mogul, it’s crucial to understand daily fantasy sports (DFS). This format of fantasy sports allows competition over short durations, unlike traditional season-long leagues.

Players act as team managers, assembling virtual teams comprised of real athletes and scoring points based on their actual performance in games.

Mogul adapts this concept, enabling users – particularly those with a strong passion for cinema – to simulate the role of studio executives.

How Mogul Works

Players receive a budget and “studio credits,” the platform’s in-game currency, to select actors for their fantasy leagues.

Users can revise their actor lineups daily, participating in week-long tournaments, head-to-head contests, and individual challenges.

Participants predict outcomes related to box office revenue, audience attendance, critical reception, and potential award recognition.

As players progress, they acquire digital collectibles – such as autographed posters and memorabilia – which contribute to their leaderboard standing.

Built on Blockchain Technology

Mogul is constructed on Sui, a layer 1 blockchain and smart contract platform created by Mysten Labs.

Beta testers will be provided with a digital wallet for the secure storage of their in-game currency, rewards, and collectible items.

Market Potential and Initial Response

MoviePass views Mogul as a pioneering venture, unlike anything currently available.

CEO Stacy Spikes expresses confidence in its potential, stating that many individuals can readily name actors compared to athletes, suggesting a substantial market opportunity.

Initial skepticism regarding the platform’s appeal has been challenged by strong early interest.

The company reports over 400,000 sign-ups for the early-access waitlist, indicating a potentially significant level of demand.

Classification and Regulatory Considerations

Initially described as a predictive market platform, Mogul is now categorized as a daily fantasy sports platform, with potential for future expansion.

Currently, all transactions within Mogul are conducted using virtual currency.

This distinction is significant due to the differing regulatory landscapes governing DFS and prediction markets, the latter of which often operate in legal ambiguity.

Spikes acknowledges the complexity of navigating state-by-state regulations, describing the approval process as a “Chinese puzzle.”

Part of a Larger Web3 Strategy

Mogul represents the first step in MoviePass’s broader long-term web3 strategy.

The company intends to introduce on-chain rewards for movie attendance and is supported by Animoca Brands, a blockchain venture capital firm.

MoviePass previously collaborated with Sui to enable subscribers to utilize USD coin for payments.