In brief
- MoviePass wants people to wager on the box office.
- Its service doesn’t use actual money yet.
- Betting giants like DraftKings are interested in prediction markets.
MoviePass, a company that used to let customers binge an unlimited number of movies in theaters for a monthly fee, began letting more people wager on box-office performances on Wednesday, according to a press release.
The company said its new service, dubbed Mogul, entered public beta, allowing a wider group to participate in “the first fantasy league and predictive market for Hollywood.”
The service tasks users with assembling a “team” of movies, actors, and directors, who are then measured based on their performance at the box office and “cultural impact.” The teams are selected using an in-game currency, similar to services like DraftKings.
However, unlike prediction markets or most fantasy sports contests, Mogul users don’t put actual funds on the line, or receive timely payouts. Instead, those who participate in Mogul’s contests “earn a chance” to share a $100,000 prize pool at some point in the future.
Users can also participate in daily polls, weighing in on questions like, “Will a live-action remake of a classic animated film be announced before the end of 2026?”
Prediction markets are gaining recognition among betting giants like DraftKings, which unveiled the purchase of a prediction market exchange called Railbird earlier this month. The shift is widely viewed as a response to firms like Polymarket, where users can bet on anything.
In the press release, Mogul acknowledged the hype surrounding prediction markets, saying that it’s entering “this landscape with a unique entertainment-driven proposition.”
MoviePass said that Mogul is turning “passive viewers into active participants,” who can best competitors by leveraging their knowledge of Hollywood and American audiences.
“Prediction markets are rapidly exploding and expected to become the next trillion dollar digital economy,” Stacy Spikes, co-founder and CEO of MoviePass, said. “Mogul is the first fantasy entertainment market, ushering in a new era of fandom.”
The Sui Foundation partnered with MoviePass in 2024 to let customers pay for subscriptions to MoviePass using stablecoins. The firm ended its all-you-can-watch plan, which cost $9.99 a month in 2019. The company now uses a credit-based system.
Animoca Brands, a venture capital and game software firm, led a seed funding round for MoviePass’ relaunch in 2023. At the time, MoviePass was interested in exploring virtual reality cinema experience, among other tech endeavors.
MoviePass noted that it plans to introduce “real money gaming in the future,” while acknowledging that the feature is commonplace on similar platforms.
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Source: https://decrypt.co/346653/moviepass-crypto-based-predictions-box-office-performances
