Mogul Productions, the decentralized platform that seeks to promote NFTs and DeFi in the movies and entertainment space, is moving ahead with a new partnership.
As announced Friday, the firm has signed a major partnership with Trace Network Labs to help bring the movie experience to the metaverse.
Growth in the NFT and Metaverse Sectors
Blockchain technology has completely changed the landscape when it comes to digital avatars, whose growth trajectory has been, to tell the least, an upward trend since the 70s.
Today, digital avatars and non-fungible tokens (NFTs) and the metaverse are shaping conversations in every aspect of space life.
As per an industry expert’s observation Highlighted by CoinJournal“TeaThat metaverse will primarily bring true value to digital assets in the form of NFTs. It will give people the ability to reinvent themselves in any shape or form they like and completely change their identity. It will bring all kinds of digital pets to life,
Through their partnership, Mughal Productions and Trace Network wish to drive the next level of growth in the region. Essentially, the mogul wants to bring the film experience and movies into the metaverse.
Use NFTs to Experience the Metaverse
Some of the most popular NFT collectibles in the world have seen millions of dollars in sales volume today, helping unlock a whole array of success stories from creators of blockbusters like Bored Ape Yacht Club, Kryptopunks and Azuki.
Alongside this, there has been a steady drive toward reality of the Metaverse, a virtual world where real-life humans can interact and do everything else via avatars.
While tech giants like Meta Platforms, Apple Inc. and Google are all working on delivering the metaverse, the entertainment sector is already witnessing developments in the virtual world.
Muggle wants to use its partnership with Trace to help take this to the next level, with NFTs at its center. Specifically, the platform wants to allow individuals to mold their own avatars and use them in the metaverse to experience events such as movie premieres.
The collaboration will also see the expansion of Mogul’s cinematic metaverse to offer users new features such as branded wearables and other Mogul products.
With these, users can unlock many exciting experiences, including access to special “behind the scenes” events – all across the metaverse.