Mogul Development Update #1
The Mogul development team is hard at work assembling the newest set of features for the Mogul Productions NFT Marketplace and ecosystem. Ten major features have come on board. Each one will be reviewed over the course of ten weeks.
So far, NFTs have barely scratched the surface when it comes to their potential. Most NFTs exist as static items on the blockchain available for buying and selling on digital marketplaces.
Yet, NFTs have enormous creative potential, which artists and collectors can harness to diversify their functionalities. Unlockable content is one such crucial element that can add value and infuse creativity into NFTs, thus enhancing the overall trading experience.
Ownership should come with perks. The same goes for NFTs. Fun bonuses are a strong enticement when buying NFTs. Unlockable NFTs are often similar to opening bonus features on different digital media platforms. Smart contracts attached to NFTs give users the right to particular pieces of intellectual property which differ from piece to piece.
Unlockable content may include high-resolution images, video clippings, redeemable coupons, or links to exclusive websites. It can also include physical items like signed merchandise, tickets, or prints of digital artwork.
Filmmakers can include video clips and other surprises in NFTs.
When a cinema enthusiast buys a collector’s edition, for example, they can chance upon an unlockable NFT with exclusive rewards. Such rewards may include deleted movie scenes, special interviews with the film crew, footage from movie sets, and alternative endings. It can also include photographs and signed merchandise from the cast and crew.
Picture a NFT digital poster art from a soon-to-be-released movie. One month later, it unlocks two tickets to the red carpet premiere including a meet and greet with the director and stars.
Three months later, it provides bonus material like deleted scenes or bloopers which only the NFT owner can see. One year later, only specific NFT owners can purchase certain film memorabilia from other movies in production as a special thank you for supporting them.
Unlockable NFTs can also include audio files, like songs from musicians.
While releasing an album through NFTs, musicians can steganographically incorporate exclusive music tracks as unlockables. The mystery will bolster the craze around the album’s release, with every fan wanting access to those rare tracks. Musicians can further experiment with unlockables for releasing their practice tracks, rejected song versions, and more.
Picture a NFT digital art of a band which also becomes a concert ticket. Once in, the owner is eligible for upgrades to the front row and backstage passes to hang with the band. The NFT’s smart contract provides recordings of three live songs from that specific concert. A year later, only owners of the band’s NFT concert tickets can purchase certain fan material from the band as a special thank you for supporting them on the road.
Digital art collectors will benefit immensely from unlockable NFTs.
The artist can design a smart contract where a handful of buyers will get additional ownership rights of rare artworks. Unlockables can also include an email link with an authenticity certificate or a physical copy of the artwork.
Game developers can incorporate unlockable NFTs into the gaming ecosystem that players can unlock upon qualifying a particular level.
Here the unlockables may include in-game assets like special characters, superfast racing cars, and heavy ammunition weapons. Gamers will always be on the lookout for such unlockable NFTs within the gaming terrain to enhance their playability.
Big brands, multinational companies, startups, and standalone entrepreneurs can use unlockable NFTs to reach out to their customers.
Product offerings can come with unlockables carrying personalized messages and thank you notes for each consumer. Some unlockable NFTs also come with time capsules that unlock after a certain amount of time has elapsed. These different kinds of unlockables diversify the already existing use-cases of NFTs.
Creators and developers can experiment with these assets to make them more creative.
Such content will contribute toward building a narrative around the digital asset, accessible exclusively to the owner of the NFT.
Beside generating additional value in the secondary marketplace, unlockables also reward collectors with surprises. Therefore, with unlockable content, NFTs no longer remain static collectibles but emerge to become dynamic assets with mysterious rewards.
Unlockable NFTs will help independent creators as well as mainstream corporations and brands forge meaningful relationships with fans and consumers. As audiences unravel new layers of a NFT, they will be able to viscerally connect with the NFT’s story.
Navigating New Frontiers
Mogul Productions is capable of leveraging these advanced technological innovations to incorporate hidden or secret data into NFTs.
Collectors can utilize the steganography coded data in NFTs to acquire other NFTs, discover the backstory, and/or attend the creator’s masterclasses.
Toward The Future
Unlockable NFTs can disrupt the digital assets industry in innumerable ways.
The unlockable content feature in NFTs is a new development in this digital domain. With few marketplaces offering these services, Mogul Productions NFT marketplace stands out as one of the few leading the way.
This community-oriented marketplace is specifically built for the film and entertainment industry, thus partnering with movies, content creators, and intellectual property owners.
Mogul’s robust server platform will be able to augment and add even more functionality as time progresses.
For more inspirational info on unlockable content, read Jake Fraser’s article Unlockable Content Will Consolidate the NFT Domain in 2022.
Stay tuned next week when we discuss another of the newest features to the Mogul marketplace.
Are you ready to unlock the potential of NFTs in film entertainment?
Need a robust platform to build your fanbase and raise capital?