For many self-described cinephiles, enjoying movies has turned into a peculiar pastime of logging titles on Letterboxd and debating online about box office numbers. Now, MoviePass aims to harness that enthusiasm with a new platform built on blockchain technology. Today, MoviePass and Mysten Labs revealed the upcoming launch of Mogul, a “competitive entertainment experience” inspired by fantasy sports. Powered by Mysten’s Sui blockchain, Mogul will let users compete through fantasy-style tournaments and challenges centered on predicting films’ critical scores, potential awards, and box office performance. Participants can earn digital collectibles (aka NFTs) and in-game currency, while tracking their standings on a leaderboard. In a statement regarding the new platform, MoviePass cofounder and CEO Stacy Spikes called Mogul “the culmination of our long-term Web3 strategy” and emphasized that the company wants to connect with fans where they currently engage. “The bigger vision is even more exciting — activating a new generation of fans who aren’t just watching movies but influencing the culture and economy around them, ” Spikes said. Mysten Labs cofounder and CEO Evan Cheng added that Mogul isn’t merely “gamifying Hollywood, ” but unlocking “a new category of onchain consumer experiences” and seeking to “push boundaries of what’s possible in fan engagement. ” MoviePass reports over 400, 000 people have joined Mogul’s early-access waitlist, and beta testers will receive digital wallets to hold the platform’s virtual currency. Over time, the company plans to integrate Mogul more deeply with the MoviePass app to seamlessly unify “ticketing, fandom, and speculation into one entertainment journey. ” MoviePass originally launched in 2011 as a service offering subscribers unlimited movie theater visits for just $10 per month.

Mogul’s debut comes two years after MoviePass was revived, following its bankruptcy and subsequent acquisition by analytics firm Helios and Matheson. To address financial difficulties stemming from MoviePass’ unsustainable model, then-CEO Mitch Lowe and Helios and Matheson CEO Ted Farnsworth silently restricted users’ platform access. These actions prompted Federal Trade Commission investigations into MoviePass, Lowe, and Farnsworth, and in response to fraud allegations, both executives ultimately pled guilty. Today’s MoviePass leadership operates with far more transparency than its predecessors. Nevertheless, the shift toward NFTs and wagering with fake currency marks an odd direction for a company that initially branded itself as an industry disruptor focused on enhancing the theatergoing experience.