Hollywood Producers Create Digital Currency to Fund Films (decrypt.com)
Hollywood is a tough place to make a living. The studios—and, increasingly, the streaming services—act as gatekeepers, deciding what gets made and by whom.
So, why not just roll out your own red carpet?
That’s what a team that includes Emmy-nominated and Oscar-seeking producers is doing. Mogul Productions, which bills itself as a “decentralized film financing (DeFiFi) platform” announced today that it is launching.
Interested creators and cinephiles can register for an account. Once the mainnet goes live, they’ll be eligible to receive STARS, the blockchain-based platform’s token.
CEO Gagan Grewal, formerly a managing partner with Three Equity Capital, told Decrypt, “Fans stake STARS tokens to vote on which films they want to see gain financing. Mogul uses a Quadratic Voting System to make each vote cast by the same user exponentially more expensive to guard against STARS-rich users having undue influence over the process.”
By: Jeff Benson
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