Mogul Productions, the decentralized platform that seeks to promote NFTs and DeFi in the movies and entertainment sector, is going big on the move with a new partnership.
As announced on Friday, the firm has signed a major partnership with Trace Network Labs to help bring the movie experience to the metaverse.
Growth in the NFTs and Metaverse sector
Blockchain technology has completely changed the landscape when it comes to digital avatars, whose growth trajectory, to state the least, has been on an upward trajectory since the 70s.
Today, digital avatars and the non-fungible token (NFT) and metaverse space are shaping interactions virtually across every aspect 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.”
Mogul Productions and Trace Network want to drive the next level of growth in this sector through their partnership. Essentially, Mogul wants to bring the movie experience and movies to the metaverse.
Use NFTs to experience the Metaverse
Some of the most popular NFT collections in the world today have seen millions of dollars in sale volumes, with the creators of blockbusters such as the Bored Ape Yacht Club, CryptoPunks, and Azuki helping unlock a whole range of success stories.
Alongside this, there has been the steady drive towards the reality of the Metaverse, a virtual world where real-life humans can interact and do pretty much everything else via avatars.
While tech giants such as Meta Platforms, Apple Inc and Google are all working on delivering the metaverse, the entertainment space is already seeing events in the virtual world.
Mogul wants to use its partnership with Trace to help drive this to the next level, with NFTs at the heart of it. Notably, the platform wants to allow individuals to mint their own avatarsand use them in the metaverse to experience events such as film premieres.
The collaboration will also see Mogul’s Cinematic Metaverse expand to provide users with new features such as branded wearables and other Mogul products.
With these, users can unlock several exciting experiences, including access to exclusive “Behind The Scenes” events – all in the metaverse.