Since then, MoviePass has officially launched the beta version of Mogul. The H-STAR game This groundbreaking new predictive market platform has been purpose-built for the Hollywood industry. Mogul aims to be more than just a daily fantasy entertainment platform. It allows TIFF audiences to step inside the movie business by putting them in the shoes of studio executives. This cutting-edge platform is built on Sui, a layer 1 blockchain and smart contract environment created by Mysten Labs. As per the announcement, it’s a big jump ahead in MoviePass’s overall, long-term web3 play.
Mogul wants to reach those passionate movie lovers. These amazing practitioners have a wealth of first-hand experience and insight into the film industry that they’re eager to share with you. With more than 400,000 people already registered on Mogul’s early-access waitlist, the unsolicited demand for Mogul’s platform is a clear sign that there’s a robust market desire. Every day, users have the ability to change their roster of movie stars. In addition to playing in fantasy-style tournaments lasting roughly a week, they can play in one-on-one competitions and solo challenges.
These features make the platform fundamentally distinct from the daily fantasy sports of old. Unlike these sports platforms, which exist under defined regulatory structures, Mogul is in a definitive legal gray area. Yet the regulatory environment for prediction market platforms is very different from that of daily fantasy sports.
Americans can name more movie stars than they can likely name sports superstars. Spikes thinks there’s a big market opportunity in this niche. He views it as unrealized growth opportunities.
The partnership between MoviePass and Sui enables subscribers to make payments using USD Coin, further integrating cryptocurrency into the entertainment experience. This great leap forward capitalizes on the surging popular interest in blockchain technology in every field imaginable. Further, it positions Mogul at the forefront of creative innovation in the entertainment industry.
Yet, as Mogul forays into this developing microcosm, it is buried under the weight of denial of regulatory approval. “It’s murky what needs to be approved. There are different types of clearances, depending on the markets you want in the U.S. You have to go state by state. It literally is like a Chinese puzzle with stuff all over the place,” Spikes noted.
Mogul heads and shoulders above the competition by providing a safe and regulated space for all its users. This has distinguished it from the capriciousness common across other social media platforms in the same sector. It’s that focus on film that makes this a special experience. It draws in viewers who are cinema-loving, film-loving hardcore viewers who want that rush of those highly strategic fantasy competitions.