MoviePass’ next big pivot is basically blockchain sports betting for film buffs
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Summary
MoviePass, the US-based cinema subscription service, has announced the launch of a blockchain-based platform for “competitive entertainment experience” allowing users to make predictions about films and bet on box-office performance using non-fungible tokens (NFTs) and in-game currency.
Built on the Mysten’s Sui blockchain, 400,000 people have already signed up for the new Mogul service’s early access waiting list, according to MoviePass co-founder and CEO Stacey Spikes, who described the platform as “the culmination of our long-term Web3 strategy”.
The announcement follows MoviePass’ previous financial difficulties which culminated in bankruptcy in 2019, since when the company has undergone a management shakeup and the new leadership is “pushing boundaries of what’s possible in fan engagement”, according to Mysten Labs co-founder and CEO Evan Cheng.