James Atkins
Editor
Editor
The decentralized platform Mogul Productions which aims to advance NFTs and DeFi. In the film and entertainment industry is moving ahead with a new partnership.
The team has announced a collaboration with Trace Network, the decentralized oracle network. The partnership is geared toward Mogul Productions’ goal of exploring.
New ways to bring blockchain technology into the traditional movie industry value chain and promote wider Crypto adoption.
The partnership will see Trace Network providing data and analytics services to Mogul Productions.
In particular, Trace Network will be helping Mogul Productions to track the progress of MOVIE Token sales. Assess the success of viral marketing campaigns, and understand how different NFTs are performing.
According to a press release issued on Friday. The firm has sealed a major collaboration with Trace Network Labs to bring the movie experience into the metaverse.
Blockchain technology has revolutionized the world of digital avatars, to say the least. Their growth trajectory, to put it mildly, has been on an upward trend since the 1970s.
With the launch of CryptoKitties in late 2017, the use of blockchain for non-fungible tokens (NFTs) gained mainstream traction. And since then, the industry has seen a spate of new applications and games built on Ethereum that use NFTs.
One such application is The Metaverse, which is an open-source decentralized virtual world that is powered by blockchain technology.
The Metaverse is home to a variety of digital assets, including avatars, landscapes, and even businesses.
To bring the movie experience to the metaverse, Trace Network has partnered with Mogul Productions.
Mogul Productions is a Hollywood-based production company that specializes in creating content for the metaverse.
The partnership will allow Trace Network to use its blockchain technology to power the Metaverse Movies platform.
Today, digital avatars, metaverse, and non-fungible tokens (NFTs) are revolutionizing human interactions across every area of life.
According to an industry expert’s observation highlighted by CoinJournal, “The metaverse will bring true value for digital assets, mainly in the form of NFTs. It will give people the ability to recreate themselves in any shape or form they would like and to reinvent their identity altogether. It will bring to life digital pets of all kinds.”
Trace Network and Mogul Productions plan to take the next step in this industry by working together. In a nutshell, Mogul aims to bring cinema and movies into the metaverse.
With creators of blockbusters like the CryptoPunks, Bored Ape Yacht Club, and Azuki assisting to unlock a slew of success tales. Some of the most popular NFT collections on earth today have seen millions of dollars in sales volumes.
There has also been a persistent push toward the truth of the Metaverse. A virtual realm in which real-life people may interact and accomplish almost everything else via avatars.
The entertainment sector is already seeing events in the virtual world, thanks to tech giants such as Meta Platforms, Apple Inc., and Google.
The goal of the partnership between Trace and Mogul is to drive this further, with NFTs at its core. Notably, the platform intends to enable individuals to create their avatars and use them in the metaverse for things like film premiering.
The partnership will also allow Mogul’s Cinematic Metaverse to grow, adding new features like branded wearables and other Mogul products.
With these, users will be able to access a variety of fascinating activities. Including glances behind the scenes at exclusive “Behind The Scenes” parties – all in the metaverse.
The partnership with Mogul Productions is another step in the right direction. And it will help Trace achieve its goal of providing a “Metaverse operating system”
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
