IQ Protocol announced partnership with Mogul Productions

IQ Protocol announced this Monday, January 31, through its Twitter account, its new partnership with Mogul Productions, a global NFT marketplace and DeFi project that shakes things up by introducing blockchain technology to the film and entertainment industry.

Image about the IQ Protocol post on Twitter

“IQ Protocol is proud to welcome Mogul Productions to our ecosystem. Mogul is an NFT and DeFi platform specifically geared towards the film and entertainment industry. Despite only launching a year ago, Mogul already boasts over 50,000 users and a community of over 150,000, making it one of the largest NFT platforms in the world”, posted on the Medium platform.

Mogul Productions

According to the company, its mission is to facilitate a blockchain-inspired transformation of the world of cinema, its production, distribution, and even the way fans engage with movies. It does this by emphasizing some of the basic principles of blockchain development, namely transparency, tracking, public data, and security. Mogul essentially believes in the power of the crowd. And so, powered by their community, each participant, a writer, director, actor or simply a viewer, could be recognized for the vital role they play and receive incentives to continue participating in the future.

“Getting funding from a movie studio is no easy task! Even armed with the best ideas, for some it takes years of work, and for many the support never comes. Therefore, Mogul Productions offers a decentralized movie financing platform (what they call DeFiFi)”, he added.

On the one hand, the company indicated that Mogul’s DeFiFi platform is designed to remove the obstacles that stand in the way, helping filmmakers obtain financing when they would not otherwise have access to it from a studio.

On the other hand, he highlighted that they are creating an NFT market based on entertainment. Many of the NFTs within their platform grant holders’ access to exclusive experiences, both digitally and in the real world! For example, with its Access Pass NFTs, Mogul could grant holders access to a production set of one of the films Mogul has helped finance; or it could reward the incumbent with the opportunity to provide input on a scene or allow them to provide feedback to a producer; or it could act as a ticket to a dinner with cast members, or even to a movie premiere. The way your NFTs can get value really is huge!

Also read: Bodh Finance: loan protocol on Boba Network

IQ Protocol + Mogul Productions

In his opinion, with IQ Protocol supporting its platform, Mogul Productions is preparing to successfully achieve its goals. By introducing DeFi and NFT to the world of movies, Mogul is providing a foundation for a whole new side of the industry to come to life. IQ Protocol plays a crucial role in allowing Mogul to not only reach his targets, but also extend his range.

The company noted that Mogul will use the IQ Protocol in various ways. For example, thanks to the IQ Protocol, Mogul will give NFT holders the ability to lease their assets for passive income and provide additional utility to token holders. Mogul plans to introduce this feature into its “Access Pass” NFT model, allowing asset holders to lease their NFT if they wish. Let’s say there’s an upcoming NFT whitelist or event that the incumbent can’t attend. With the lend and rent feature, the owner can provide the opportunity for another member of the community to participate by renting the NFT. Another exciting way Mogul plans to use the power of IQ Protocol is by combining its NFT features with ticketing. This would allow them to partner with experiential events and festivals, adding even deeper levels to the NFTs their community enjoys.

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