- Mogul Productions launches NFT-based contest for access pass holders.
- Participants can win up to 25M STARS tokens worth $1.25M.
Mogul Productions announced an NFT-based contest for Access Pass holders. The participants can win up to 25 million STARS tokens worth about $1.25 million at today’s market rate.
The company calls the competition one of the biggest contests in blockchain history as the winner of the contest will also get a role in an upcoming movie. It is a first-of-its-kind NFT-based contest.
Mogul Productions is an immersive and inclusive platform that aims to decentralize the way to fund movies. It will do so using blockchain, smart contract technology, and analytics.
Also, Mogul noted that it enlisted DC Comics and Marvel artist Rob Prior to creating a special NFT for the contest. Rob Prior will first live-paint an original piece of art. He will use ideas requested from the Access Pass holders.
However, Mogul said it would soon ask Access Pass holders for what they want before the live paint. And then, organize the answers into the top 3 suggestions.
The pass holders will get the chance to vote on their favorite paint. “Rob Prior will then create the painting on a video Livestream for Access Pass holders to watch,” says Mogul.
Furthermore, Mogul said that Rob Prior’s creation would be made into an NFT to record its authenticity and uniqueness immutably. The firm also added that it would then issue the NFT to Mogul Access Pass holders to own the Non-Fungible Tokens of this painting.
Moreover, the company said it is only the beginning. So, whether participants are current pass holders or not and if they can collect more than 50% of the total number of NFTs created, they’ll win a role in its upcoming movie.
In addition, Lisa Sun, Mogul Productions’ Founder & President, said:
To Mogul, NFTs are more than just digital art. We’re excited to be partnering with one of the top artists in the world to use NFTs functionally, while giving more utility to our Access Pass holders.
It’s the first time NFTs have been used to validate digital authenticity. Also, it is the first time NFTs have been used to award a role in a movie. Therefore, anyone in the cryptosphere who can collect 95% of the created NFTs will get up to 25M STARS tokens worth $1.25M, as mentioned above.