MoviePass is a startup that won through the Movie Theatre Service Service, which has been known for shaking things, and its latest adventures are no exception.

The company announced Thursday that Mogul's Beta launch, a new daily fantasy entertainment platform designed specifically for the Hollywood industry.

To understand what Mogul is, it is important to first master the concept of daily fantasy movement. This subcategory of fantasy sports allows players to compete in short periods, rather than throughout the season. Players take the role of team managers, create their own dream team consisting of real-world athletes and earn points based on how these athletes perform in actual competitions.

Mogul realizes this idea by allowing users of this passionate movie lover to act as studio heads in the film industry. The player is provided with budget and "record" (currency in the game) for selecting the cast of the league.

Users can update their movie cast every day. They then competed in fantasy-style competitions that lasted about a week, as well as one-on-one competitions and solo challenges. Participants called for results of various outcomes, such as box office results, audience voting, critic ratings and potential winners.

As users upgrade, they earn digital collectibles (think signature posters and souvenirs), which helps them climb the rankings.

Mogul is built on Sui, a 1-layer blockchain and smart contract platform developed by Mysten Labs. Beta testers will receive a digital wallet to securely store virtual currencies, rewards and collectibles in their games.

The introduction of MoviePass tycoons are making a bold leap because it never really did. But Spikes believes that this is a huge market waiting. "People can say more actors than athletes named. So, I think there is a very big market opportunity there," he said.

Initially, when we first got to know the tycoon, we wouldn't expect it to take off, at least not in the early stages. We wonder if there are many movie fans who are willing to compete with others for box office revenue or ratings.

However, we may have underestimated its appeal. The company claims that 400,000 people have signed early waitlists. Whether it can maintain this level of interest before the official launch remains to be seen, but it may become popular among niche film followers.

In our initial conversation with Spike, he positioned the tycoon as a predictive market platform. Later, we were told that a more appropriate description would be to classify the tycoon as a daily fantasy sports platform, but it may evolve to include this feature in the future. However, for now, Mogul runs only with virtual currency.

This distinction is important, especially given the regulated nature of the daily fantasy movement, rather than the predictive market platform currently present in legal gray areas. For example, Carlsey has been in an ongoing legal battle with state gambling regulators.

"It's vague. What needs approval is different types of gaps, depending on the market you want in the US, you have to go by state. It's literally like a Chinese puzzle, with things everywhere."

Mogul represents the initial stage of MoviePass' long-term Web3 strategy. The company has previously revealed that it intends to provide on-chain rewards for participating in the movie. It is also backed by Animoca Brands, a venture capital firm specializing in blockchain technology.

Last year, MoviePass worked with SUI to allow subscribers to pay in USD coins.