The love of film is universal. Yet behind Hollywood curtains, the movie industry is generally exclusive to industry insiders. The movie selection process itself is ultimately being managed by a small group of experts at the major studios. This leads to promising scripts being overlooked. That gap in greenlighting overlooked projects was identified by Hollywood insiders themselves. It was a driver behind the creation of the Black List, an annual crowd-sourced list ranking unproduced screenplays that non-studio industry experts felt had been overlooked.
Today, Black List films have become some of Hollywood’s most successful movies. As of 2019, 4 of the last 10 Academy Awards for Best Picture went to scripts featured on previous Black Lists, as well as 12 of the last 20 screenwriting Oscars (Original and Adapted Screenplays). Since its inception, more than 400 Black List scripts have been produced, grossing over $26 billion in box office worldwide. Black List movies have won 53 Academy Awards from 262 nominations. Most recent successful Black List films include: The Wolf of Wall Street, The Social Network, Bird Box, American Hustle, Argo, and The Imitation Game.
With lack of transparency, clunky processes, misaligned incentives, and the success of Black List movies, the entertainment industry is primed for disruption, especially for the independent model.
Bringing power back to the crowd. That’s the premise of Mogul.
The DeFi and NFT boom has led to a sizable shift in the creator economy. Mogul unlocks opportunities for screenwriters, producers, directors and performers to reach out to audiences and get their projects funded.
“The whole premise of Mogul is to enable filmmakers to get their stories turned into a cinematic release. For filmmakers that were struggling to get financing or launch their story into the market, we see a gap here.”
– Jake Fraser, Head of Business Development
The voting community is really a collaborative way for film lovers to have a voice and be a part of the whole production process. Not only are they part of the process from a voting standpoint and get a say in what projects will be turned into films, but they can also be part of the process for buying the NFTs on Mogul’s marketplace which are attached to the film.
Utility based NFTs are designed to bring the fans closer to the action via different forms of experiential utility and behind-the-scenes access. A couple of examples could be attending red carpet premieres, getting producer credits on a film, getting access to behind-the-scenes content from the production or it could be meeting a lead actor for face time.
People vote with their STARS utility tokens which have a currency value. When fans help vote for a film, they get access to certain perks. Voters are able to receive rewards from the film’s net proceeds. For example, up to 50% of the film’s net proceeds can possibly be distributed back to the voting community, via a smart contract. If you don’t vote, you don’t get rewards. By voting you are participating in the project and staking tokens. The last winning film, Terminal Station, had over 30,000 votes.
Investors will be able to participate in a diverse, growing slate of movies with Mogul. We are committed to transparent budgeting and aligning all stakeholder incentives to bottom-line profitability. Mogul also allows investors, as well as creatives, to get better deals working on Mogul films compared to competitors. Investors receive a direct stake in the success of Mogul films, and the chance to earn experiential perks. Our model gives investors better terms and all parties involved are on the same recoupment plan.
Furthermore it loosens the barriers to getting outside financing. Producers can show outside financiers that they already have their own fan base and financial support to make the project a success. This generates loyalty, a sense of ownership, and incentive alignment with the success of Mogul films.
Mogul is a community of communities focused on revolutionizing and advancing the movie industry. We are committed to engaging the global community to achieve our mission. Together, we are Mogul.
How Are Movie Projects Selected?
Films that typically receive financing are those with good packaging and have all the different elements required to create a desirable and commercial. This includes a script that tantalizes in the first ten pages and delivers right through to the final page, and attracts a successful director and star talent that is “bankable”.
This package plays a large part in increasing investor and buyer confidence but is now just one part of a larger matrix of packaging elements that sum to a film’s marketability.
The Black List as well as movies like Deadpool and Veronica Mars have harnessed the power of the crowd within a data-driven platform. Access to timely, evolving insights to inform decisions will mitigate risk for investors in the film financing stage. Up-to-date data on audience preferences guides movie production decisions on the path to profitability.
Fun Trivia: The term Hollywood blacklist was the colloquial term for an entertainment industry blacklist put in effect in the mid-20th century during the Cold War. The blacklist involved the practice of denying employment to entertainment industry professionals believed to be communist sympathizers. Actors, screenwriters, directors, musicians, and other American entertainment professionals were barred from work by the studios on the basis of their alleged membership in, or sympathy with the Communist Party USA, or on the basis of their refusal to assist Congressional investigations into the party’s activities. It quickly and directly damaged or ended the careers and income of scores of individuals working in the film industry.
Movies like Trumbo showcased Hollywood’s history like Dalton Trumbo, who In 1947 was Hollywood’s top screenwriter, until he and other artists were jailed and blacklisted for their political beliefs.
Mogul is where movies meet blockchain. Mogul partners with some of the biggest names in entertainment, helping artists of all sorts connect with their most loyal fans on different levels, while giving them innovative ways to engage with their favorite performers.
Navigating New Frontiers
Mogul Productions is capable of leveraging these advanced technological innovations to give artists and buyers alike a more robust user experience.
Toward The Future
The Mogul NFT Marketplace is the marketplace where film & entertainment meet blockchain. The development and marketing team keeps up and is often ahead of technological advancements within the blockchain community.
Mogul’s community-oriented system is specifically built for the entertainment industry, making its partnerships with moviemakers, music makers, content creators, and intellectual property owners winners .
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?
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