Through the advent of streaming services like Netflix and Apple TV leading to a more centralized world of film and television distribution, some crypto firms are hoping to counteract the trend with blockchain technology.
MovieBloc was established in 2019 by the Korean streaming platform Pandora TV in an attempt to break the monopoly of streaming titans in the television and film industries. According to its website, the ecosystem is using the power of blockchain to return ownership to the creators.
While this project appears to be attracting a lot of interest from investors, MBL's 2022 has been a rollercoaster ride thus far. Let's take a short look at MovieBloc's native token, MBL, before we look at any estimates.
What is MovieBloc (MBL)?
MovieBloc began on the Ontology blockchain and has since been listed on a number of exchanges, including Binance and Upbit, allowing viewers and producers to receive incentives and contribute to the platform.
Creators can collect donations from viewers using the native token, MBL, which gives them more power and influence over their work than is typical. When uploading a film, the uploader has the option of deciding how much people should pay to see it. Advertisement is another way for creators to make money.
On the site, viewers may also earn MBL by giving community services like as reviews, subtitling, or marketing materials. If a viewer's subtitles are selected and played alongside the video, according to the website, The person will earn 5% of the creator's income share, and viewers who upgrade to the premium subscription will have access to a bigger selection of films.
The platform is available in 78 languages, with over 600 subtitles and over 300 feature and short films. "The world's largest participant-centric movie ecosystem," says the website.
MovieBloc acquired Cobak, a Korean crypto community service, in February 2020. "Cobak has the world's premier mobile service [which] includes crypto wallets, community, real-time ticker, news, airdrop and token sales services," according to MovieBloc's Medium release. MovieBloc's service operations would be reinforced as a result of the merger with Cobak, according to the company. Continuance Pictures, billed as "one of Australia's most intriguing rising film production businesses," will release its films through the MovieBloc platform as a result of the relationship.
Founders
Chris Kang, Jeffrey Jin, and Peter Kim co-founded MovieBloc. Kang, who is from South Korea, studied cinema and television at Boston University in the US. After that, he worked as an analyst in movie distribution at CJ E&M before joining Pandora's blockchain team. Kang is the President and CEO of MovieBloc.
Jin earned a bachelor's degree in international/global studies from the University of Washington in Seattle, then went on to Dankook University in South Korea to earn a master's degree in data science. After that, he worked as a research assistant at EY and LEK Consulting before launching Upcoming, an internet services company.
Jin, who is headquartered in South Korea, served as COO of MovieBloc from December 2021 until December 2022. Let's take a look at the current performance of the MBL coin before we look at price expectations for MovieBloc in 2022.
The following is an excerpt from the MovieBloc whitepaper.
According to the MovieBloc whitepaper, content producers who upload their work to the network receive a clear income split, access to viewership statistics, and equitable screening possibilities.
"While the entire market is expanding, the sector is also being dominated by conglomerates with vertical integration throughout three phases: manufacturing, distribution, and display," the study adds. Because the business is primarily focused on getting larger audiences for more profits, this integration creates challenges in the sector, such as biased screen allocation.
"The major victims of this phenomenon are the filmmakers and the viewers." Filmmakers are only allowed to make films that have a strong chance of economic success. The right of customers to access a diverse and free range of content has been taken away."
Recent performance of tokens
The MBL coin declined from $0.004481 on June 26, 2019 to $0.001358 on September 29, 2019, according to CoinMarketCap. It climbed to $0.005198 on February 20, 2020, but then went down to below $0.003 for the rest of the year.
MBL, on the other hand, continued to grow in 2021, reaching a peak of $0.04599 on 2 April 2021 before plummeting to $0.003494 on 22 June 2021. The currency quickly surged to $0.01359 on November 25, 2021, before plummeting to $0.005057 on January 22, 2022.
MBL has subsequently soared to highs of $0.02711 in late March, but has now fallen to $0.00984 as of writing on April 13, 2022.
According to CoinGecko, the coin has lost 4% in the last 30 days as of today. MBL, on the other hand, has risen almost 5% in the last 24 hours. Is the token due for a comeback?
The RSI is signalling a likely trend reversal, according to a panel of technical indicators supplied by DigitalCoinPrice. The short- and long-term SMAs and EMAs, on the other hand, are flashing sell. 14 of the 26 technical indicators point to a sell signal, seven to a hold signal, and five to a buy signal.
The coin has a maximum supply of 30 billion tokens and a circulating supply of 13.53 billion MBL tokens, according to CoinMarketCap, with a market worth of slightly over $134 million.
Now let's have a look at some MovieBloc coin price forecasts.
Expert comment on the pricing of MovieBloc
Predictions should be seen as possibilities rather than hard and fast facts. This is especially true when looking at long-term projections, which might be entirely off the mark due to the cryptocurrency market's intrinsic volatility.
Gov.capital, based on three forecasts' MovieBloc crypto price projections, is bullish, predicting that MovieBloc might reach $0.029 in a year. The MovieBloc pricing projection for 2027 on the platform is $0.151. According to DigitalCoinPrice, the currency might hit $0.0135 as early as April, signifying an almost 40% return. For April 2023, the MBL price forecast is $0.0154. The MovieBloc pricing projection for 2025 is $0.0216, after a regular year-over-year climb to an average of $0.0516 in 2030, according to the website.
Meanwhile, PricePrediction.net predicts that MovieBloc will rise to $0.025 in 2023 before climbing to $0.038 in 2024. The MovieBloc pricing projection for 2030 is $0.33, according to the site.
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