This update to the platform brings quadratic voting and a DeFi-asset-based staking system to determine which projects on the Mogul platform receive funding. These additions are part of a ten-week rollout plan that will see full implementation of many of Mogul Productions’ key systems in the near future.
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Mogul is a new Web3-based film production company focused on democratizing the production process. They are backed by a team of experienced production professionals who have a combined 80+ full film releases under their collective belt.
Phase one of their rollout plan brings these community engagement features to the platform that will allow participants to vote on upcoming projects by using the proprietary crypto asset, STARS. By staking this currency, users can help to finance the film projects they would like to see enter full production.
The other component of the democratization system, quadratic voting, allows users to vote on projects based on the number of STARS they currently hold. Their voting system takes advantage of the lack of reproducibility provided by the blockchain to prevent double voting and ensure that participants are fairly compensated for their engagement.
To further incentivize participation, STARS will be earnable through community events, giveaways, or through traditional acquisition. Promotional material for each film will also be available through Mogul’s NFT marketplace, with sound clips, images, or even entire films available for purchase in fixed-price auctions.
Once projects achieve their funding goals, they will enter production as per the Mogul roadmap backed by their team of industry veterans. Following each film’s release, those who voted for it in the preliminary rounds will have the opportunity to receive a share of the film’s profits in the form of STARS.
This new update sees Mogul nearing its full functionality; on top of the implementation of quadratic voting, the NFT marketplace will also be launching in the near future. To celebrate the launch of the platform, Mogul Productions has partnered with director Anthony Hayes to release a limited-run NFT drop based on his latest film, Retrogression.
For more information, visit https://bit.ly/3vUahUk
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