Mogul Production x BSCDaily AMA Recap
This post will summarize Mogul’s Production AMA, which took place on Wednesday, July 14th, on the BSC daily Telegram channel. Lisa Sun was Present for this event.
Question 1: What is Mogul Productions all about? Give us a little summary
Answer: Mogul is a DeFi and NFT platform for movies & STARS powers our ecosystem
Our team has collectively made over 100 films in Hollywood and identified that there is a problem with opaque financing of independent films and lack of fan participation in the movie-making process. Bringing blockchain-based financing and NFTs to the movie industry, we provide fans the ability to share in the success (50% of the profits) and be part of the movie-making process.
Our platform launched in February and we already have 50k users, 30+ strategic partners, and more than 100k followers across our community channels. We have been featured in Variety News, NASDAQ, Forbes, Cointelegraph, and other global publications.
To date, we’ve sold more than $10M in NFTs through direct sales and auctions and are incredibly excited for what’s in store over the next 3–6 months for our product.
This week is particularly exciting, as we have 3 brand new partnerships PLUS tomorrow we have some extra special news 🙂
Question 2: Could you tell us a little bit about yourself and your team? What are your past experiences?
Answer: Of course. I have been investing in independent films and blockchain projects since 2015 and I saw a gap in the marketplace as an investor to bridge the antiquated world of film financing with blockchain technology. I was an early adopter of projects like Ethereum and Cardano.
We’ve spent the last 2 years assembling what we feel is one of the strongest teams in blockchain with respect to the amount of expertise we have in the indsutry we’re enterting.
Our film team has made over 100 feature films throughout their career and been awarded Golden Globes, Oscars, Peoples’ Choice Awards, and more.
New additions to our film financing arm of the business have raised 100s of millions of dollars for public companies in their careers, and our legal team has been papering deals in Hollywood for years.
This is a team that knows how to execute in Hollywood and we can’t wait to launch our first ever movie vote in the next 2 weeks. It will definitely make some noise!
Question 3: Why did you and your team decide to build Mogul Productions?
Answer: that’s a great question!
The Mogul story begins with our team hearing the story of Deadpool in 2016 when we originally wrote the first Mogul whitepaper. Then we started development in 2018. Validation for the idea (after hearing about the Deadpool story) came about because our founding team had invested in movie scripts before and often found that the experience of investing in a sscript wasn’t very good… There is a major lack of transparency in the accounting and investing process. Projects that could be profitable aren’t because of these ‘martian’ accounting practices and bloated budgets. But, one project we invested in at a script level stood out as special — they provided monthly updates, behind-the scenes photos and details of cast members under consideration. They also talked business development and asked for access to specific people in our networks. It was a really immersive experience where we got all of this “insider” information and felt part of the process. By doing this they created a dedicated community with the common goal of making the movie successful. We want to emulate this, at scale.
Hearing the Deadpool story was the initial “wow” moment for us that sparked the idea for Mogul back in 2016. Deadpool owes its success to the combined passion of actor, director and comic book fans for bringing the much-loved comic strip to life. Deadpool has become the highest grossing R-rated franchise in movie history; but it wouldn’t have been made without comic fans loving a ‘proof of concept’ trailer leaked by actor Ryan Reynolds. Fans demanded the studio make it! And Mogul’s platform aims to give film fans a voice in the script-to-screen process too.
This was power of the crowd, decentralization, peer to peer community building and rallying behind a cause. There was a centralized entity (the studio) that was stopping the production of a film because they didn’t think an R-rated Marvel movie would work, but the fans pushed it forward. The people told the studio what they wanted to see and how they wanted to see it.
Blockchain is very good for security, building die-hard communities and financial transparency, efficiency, and automation in payments. Blockchain communities can will the success of a project, just like Deadpool fans. And we are building the platform with Ethereum, because of Ethereum’s network effect.
Imagine the Deadpool effect, but now with Mogul, where STARS holders can share in the success of 50% of Mogul movie profits! This has never been done before, especially with the quality of movies you’ll see on our platform
Question 4: Let’s dive into your tokens $STARS. Can you share with us your tokenomics? And what are some of $STARS use cases?
Answer: Of course. There are 400m total STARS tokens, but approximately 3m have already been burned. It’s a burning token, where each time STARS are used within our platform (purchasing NFTs, buying rewards, etc.) a portion of STARS are burnt. Approximately 75% of our tokens are in supply already.
STARS tokens are used within the Mogul ecosystem to:
- Share in 50% of Mogul movie profits (governance)
- Purchase NFTs
- Bid for NFTs in auctions
- Buy rewards related to our films
- Vote for which movies you want made (and receive STARS for voting)
- As an in-app currency
The STARS token has a lot of use cases within our system and the plan is to make STARS the defacto currency where movies meet blockchain. Our business development team is teaching Hollywood about them every day!
Question 5: And does $STARS get audited?
Answer: Yes, we have audited all of our contracts with well known auditing companies, Hacken and Zokyo. Security is top priority for us and we make sure that each contract we put out is manually and automatically tested in audits, and then our audits are published for the public to view.
Audits can be viewed within a user’s dashboard at my.mogulproductions.com/register
Question 6: Where can we buy $STARS?
Answer: As of tomorrow, you’ll be able to purchase BEP20 STARS on ApeSwap. If you want to purchase today before the big announcement, you can find STARS on Uniswap or Bitmart. Those are the best two options! There will be MANY more places in the future 😄 … as soon as the next 15 days
Here is a link to our Coinmarketcap where you can find a list of all of the options to purchase STARS: https://coinmarketcap.com/currencies/mogul-productions/
Question 7: What can we expect in the next 3 months and in 2021 as a whole?
Answer: The next 3–6 months will be a “coming of age” for Mogul. The product launches we have coming up are incredible.
1. Voting: users, as of the next few weeks, will be able to vote on the movies they want financed through our Showcase and earn STARS yield in doing so
2. NFT Marketplace: we will be the defacto place where movies meet NFTs and the STARS token is the currency that will be used.
3. Smart Wallet: gas-less, layer 2 wallet for direct use of the blockchain for new entrants in the space (product aimed to target masses from the film industry to participate in Mogul and STARS)
Here is how our Showcase works (I blurred out the psoters so people don’t see which movies will be in the vote 😉 )
I know our community would have gone crazy seeing the films!
Question 8: And where can we find out more about Mogul Productions on social media?
Answer: The two best places to find us are on Twitter and Telegram:
We also have:
Question 1: How do you make it possible for Fans to have red carpet tickets and invitations to exclusive events, how do you get them?
Answer 1: When we make / finance a movie, part of the legal negotiation with the project is to include rewards for our users.
These rewards will be represented as NFTs in our NFT marketplace. There will be a fixed number available for various prices and we will market it like an NFT drop, where certain users (who hold exclusive NFTs) will have access to purchase rewards that are of higher value.
For example, there may be only 1 “Executive Producer Credit” available so we would offer that to our most exclusive users. But there may be many opportunities to purchase other, more common rewards, such as a Facetime with the cast or something like that 🙂
Question 2: Who are your target customers? Southeast Asia best for crypto adoption? Do you have an ambassador program and can they have a program?
Answer 2: We do have an ambassador program where ambassadors share over $5000 per month and we’d love to have applicants come from South East asia to grow our community on that side of the world!
Question 3: Is your platform suitable for Crypto beginners? Or does it only appeal to professional users?
Answer 3: The goal of our product is to make it easy to use for every level of crypto users, including first time users.
By building our product in this manner, we aim to attract hundreds of thousands, if not millions, of users in the future 🙂
Question 4: My first question is about the #voting_mechanism to choose a movie.
Is it like “anyone with any amount of tokens holding have one vote” or “the voting is weighted based on how much token anyone hold”?
From what I understand both of these has their own upsides and downsides, may you explain how you’re going to manage this issue?
Another question I have is about Mogul’s involvement in the movies.
- Are you going to make movies or distribute them or both?
- What platform do you have in mind to distribute Mogul funded movies for early stages of the project, streaming services or big screen?
Answer 4: For the voting, your votes are calcuated as the square root the amount of tokens you have and then rounded down. This allows small token holders to still have a great impact on the vote.
So if you have 10 tokens, you get 3 votes.
For your second question, we finance and produce the movies, and as part of the production team, we help get the movie distributed in places like Netflix and Amazon Prime
Question 5: Do you plan to burn or redeem any tokens from the market in the future? Or burn Mogul’s token itself?
Answer 5: STARS is a burning token. When it’s used in our platform, a portion of tokens are burnt. For example, when we sold our Rob Prior “Wolf of Wall Street” NFT for 5.5 million STARS (nearly 200k USD) we burnt nearly 100k worth of STARS tokens
Question 6: As we know Mogul are partnered with some of the best companies in blockchain, including Chainlink, Polygon, and more. Do you have any plans to partner with the film industry?
Answer 6: We have some really big partnerships coming up that are just waiting on legal agreements. I cant wait to share them!
Stay tuned in our telegram channel: https://t.me/mogulproductions
Question 7: Today Netflix is one of the best platforms in the world of cinematography, so I ask: Is Mogul associated with Nexflix or does he have it planned for the future?
Answer 7: All I can say about this is to stay tuned to the announcements regarding the movies we will be putting in the Showcase
Best place to find out about an announcement a Mogul movie working with Netflix would be to join our announcement channel, where we will also be doing a series of $100 giveaways….
Question 8: How much control does MOGUL have in the final result of each production, how do they guarantee the success and profitability of the projects they support?
Answer 8: Well we have a rigorous due diligence process with our accountants, legal team, and film team when we grade the projects submitted to us and we have criteria (such as the film needing 50% financing in place and A-List talent) to even showcase the film on our platform.
Our team has a kee eye for commercial viability. Part of the agreement for the movies we put in the showcase is that they must have what’s called a Bond (and we are partnered with one called FIlm Finances). A Bond is like an insurance agent who guarantees on-time and on-budget delivery of the movie to a distributor (such as Netflix).
so this gives us a lot of confidence that the project will do well. And the Mogul team acts as producers on the project to make sure all spending is prudent
Question 9: I am one of the first members to join your community. And now when I look at it, I see that your community members are growing more. That makes me happy. Are you planning new events for your community supporters in 2021?
Answer 9: Just yesterday, in annopuncing our partnership with ApeSwap (which launches tomorrow), it was announced that our Access Pass Holders will receive $10,000 worth of $BANANA token 😄
Learn more in our telegram channel on how you can be eligible: https://t.me/mogulnews
Question 10: The ease with which the largest holders can ‘swing’ a vote can lead to voter apathy too, So what about Mogul Quadratic Voting? Did this happen?
Answer 10: Quadratic voting is used to directly combat that large holders influence the vote!
Voter apathy is solved with two main theories:
1. Rewards: voters are rewarded with STARS tokens for lending their voice
2. Quadratic voting: small token holders are given a higher proportional vote than large ones
Question 11: Mogul Productions curates content to avoid violent, controversial or sexual content? or is it totally free?
Answer 11: We focus on full-length, English language films right now with strict submission criteria.
Question 9: Time for wrapping up, any last words you would like to say to our community? @lisaamogul
Answer: Yes! If you like to earn rewards and want to follow along with Mogul, we have weekly chances to earn rewards in our telegram channel and I hope to see you all there!
Tomorrow will be a particularly big day with our launch on ApeSwap!
Thank you for having me!!
About Mogul Productions
Mogul is a decentralized film financing platform that brings
creators, fans, and film financiers together; allowing everyone to play a part in the next big blockbuster.
For More Information about Mogul Productions:
Telegram Group: https://t.me/mogulproductions