Blockchain technology has impacted many industries, including now the film production and distribution industry. In order to fight against the monopoly of streaming giants such as Netflix and Apple TV on the TV and film industry, Korean streaming network Pandora TV established MovieBloc in 2019. According to its website, the ecosystem is using the power of blockchain to put control back in the hands of creators. #MBL
While the project has certainly attracted a lot of investor attention, the price of its native token, MBL, has been on a roller-coaster ride so far.
So, what does the future hold for MBL? What is the latest price prediction for MovieBloc? Is MovieBloc (MBL) a good investment?
MBL coin latest market overview
To combat the monopoly of streaming giants over the TV and film industries, South Korean streaming network Pandora TV founded MovieBloc in 2019. According to its website, the ecosystem is using the power of blockchain to return ownership to creators.
Since its launch, the project has attracted the attention of many investors, and exchanges such as Binance, Upbit, Bitget, and BTCC have listed MBL trading pairs. Before we start introducing MovieBloc (MBL), we can have a certain understanding of its current market status through the following table.
As you can see, as of November 13, MBL coin has risen by 33.81%, reaching a high of $0.006142. What is MovieBloc (MBL) coin?
BTCC has recently launched the MBL/USDT perpetual contract with a leverage of up to 50. If you are interested in this token, you can buy MBL through BTCC anytime, anywhere at the lowest price and highest security.
Founded in 2019, MovieBloc is a decentralized content distribution platform running on the blockchain, providing equal and transparent film screening and viewing opportunities to content creators, curators, and audiences.
It was co-founded by Chris Kang, Jeffrey Jin and Peter Kim in collaboration with KMPlayer to build a participant-centric film production and distribution ecosystem. Its co-founders have extensive experience in the entertainment industry, Peter Kim served as CEO of Pandora.TV (a Korean video streaming platform), and Chris completed a bachelor's degree in film and television and has been a member of the blockchain team.
On the platform, users can buy or rent movies of their choice, with creators automatically earning a portion of the revenue generated through smart contracts on the platform.
The site offers more than 600 subtitles, more than 300 feature films and shorts, and supports 78 languages. According to the site, it is the "largest participant-centric film ecosystem."
In February 2020, MovieBloc acquired a cryptocurrency community service based in South Korea. MovieBloc stated that "Cobak has world-leading mobile services, including crypto wallets, communities, real-time quotes, news, airdrops, and token sales services." It added that the merger with Cobak will boost MovieBloc's service business.
On March 2, 2022, MovieBloc announced on Twitter its partnership with Continuance Pictures, described as "one of Australia's most exciting emerging film production companies."
Moviebloc also opened the submission process for the 2022 Gwanghwamun International Short Film Festival (GISFF) in April. The winners of the 20th GISFF were announced on July 1:
How does MovieBloc work?
MovieBloc consists of three layers, providing users with blockchain security features and a seamless viewing experience:
Application Layer: This is the interface of the Moviebloc platform where users can buy or rent listed movies and play HD videos. It also has a BLOC Community Layer for creators to connect with other producers, investors, etc. and hire translators and designers for their production purposes.
Service layer: The main layer of MovieBloc uses the Ontology blockchain to store large and complex databases through data modules to improve the efficiency of the platform. Its service module connects the community layer.BLOC, Market, Festival, facilitating the smooth processing and transmission of services according to user types.
Decentralized core: Creators need to record their content information on Moviebloc, such as price, related information, etc. Based on this data, the platform manages the transparent flow of token economy between participants and creators.
