MovieBloc (MBL) is an effort to bring film to the blockchain. In particular, MovieBloc’s builders claim they can distribute films through the blockchain as nonfungible tokens (NFTs).
The hope at MovieBloc is to give independent filmmakers access to Video-on-Demand (VOD) revenue. To explain, video-on-demand is a term that describes any online video, including YouTube and platforms such as Netflix (NFLX) and Disney+.
MovieBloc claims filmmakers could receive 70% of a film’s VOD revenue or gross, after deducting sales tax and payment processing fees. MovieBloc takes 30% of the VOD revenue to cover its expenses. In addition, MovieBloc will pay translators who add subtitles to films 5% of the filmmakers’ share of the VOD.
How Much Money Could MovieBloc make?
Video-on-Demand is big business. Statista projects that all VOD revenues will grow to $98.686 billion in 2022 and $135.773 billion by 2026. Total VOD revenues grew from $85.759 billion in 2021 and $70.991 billion in 2020. The VOD revenues could grow to $110.30 billion in 2023, $119.635 billion in 2024, and $127.513 billion in 2025.
The largest segment of Video-on-Demand is streaming video, such as Netflix, which could achieve a market volume of $82.431 billion in 2022.
The average VOD per user revenue was $12.99 for pay-for-views and video downloads in 2021, Statista estimates.Video download revenue per user revenue could grow to $13.54 in 2022, but fall to $7.84 in 2023.
In contrast, Pay-per-view revenue could grow to $14.02 in 2023, $14.42 in 2024, $14.75 in 2025, and $15.11 in 2026. Interestingly, video download revenue could fall to $7.81 in 2023, $7.81 in 2024, $7.78 in 2025, and $7.76 in 2026. Thus, MovieBloc could be in a growing business if offers pay-per-view or shrink if it offers downloads.
However, MovieBloc (MBL) could generate lots of money from streaming video. Statista projects streaming video per-user revenue could grow from $65.68 in 2021 to $69.49 in 2022, $72.37 in 2023, $74.57 in 2024, $76.25 in 2025, and $77.97 in 2026.
How Many people could MovieBloc reach?
Statista projects there could be 2.298 billion video-on-demand users by 2026. Around 25.5% of the population was using video-on-demand in 2022, Statista estimates. That percentage could grow to 29.2% in 2026.
Overall, there were 1.079 billion streaming video users, and 716.3 million video download pay per view users worldwide in 2021. Those numbers could grow to 1.186 billion and 770 million in 2022, 1.28 billion and 813 million in 2023, 1.359 billion and 846.3 million in 2024, 1.423 billion and 871 million in 2025, and 1.487 billion and 895.8 million in 2026.
Therefore, I estimate MovieBloc (MBL) could reach an audience of 2.3838 billion by 2026. If it works. However, I imagine most movie buffs will have a hard learning to use the blockchain and downloading NFTs.
What is MovieBloc?
MovieBloc’s platform includes a marketplace for movies. Most of the movies cost $1 a download. There are also some free movies. They also sell some portions of some movies for $1. The marketplace sells the films as NFTs.
It appears anybody can upload a film to MovieBloc (MBL). However, they review films and refuse offensive content, including pornography, snuff films, and movies that encourage violence.
MovieBloc (MBL) makes a payment every 14 days. There is a 24-Hour payment cycle at the end of the period. They make payment in the Movie (MBL) cryptocurrency and the Tether (USDT) stablecoin. Tether makes payment in US dollars, so MovieBloc creators can receive payment dollar payments.
MovieBloc is working with an established Hollywood player Tony Bancroft. Bancroft held create several major animated features including Mulan, Stuart Little 2, Aladdin, Beauty and the Beast, The Hunchback of Notre Dame, The Emperor’s New Groove, Mary Poppins Returns, and Space Jam: A New Legacy. and The Lion King.
What MovieBloc offers
Bancroft’s resume includes major awards. He won the Annie Award for Director of the Year from ASIA-International for work on Mulan and the Visual Effect’s Society’s top award for character animation for Stuart Little 2. MovieBloc is selling some of Bancroft’s art.
MovieBloc is sponsoring the Pick Awards for Best Film. They plan to distribute 1.8 million MBL to Pick participants who vote for the winning film.
MovieBloc filmmakers participate in a number of film festivals. They also sponsor an online film festival.
They call MovieBloc a Global Independent Movie Platform that supports films in 106 countries and 78 languages. MovieBloc claims to offer over 300 feature and short films. MovieBloc’s PowerPoint claims the 2020 MovieBloc Film Festival reached an audience of 50,000. They claim the average film in the festival had an average viewer number of 4,000.
MovieBloc’s plans for 2022, include building a funding system and database for actors, filmmakers, and directors. Hold film festivals. Establish movie industry and blockchain industry partnerships. There are also plans to distribute short, independent, and artistic films as NFTs through Movie Card in 2022. They hope to activate a MovieBloc utility token in 2022.
MovieBloc is forming partnerships with film producers, such as Continuance Pictures.
What Value does MovieBloc (MBL) have?
Mr. Market shows some interest in MovieBloc (MBL). For instance, MovieBloc was CoinMarketCap’s 14th most trending cryptocurrency on 9 March 2022.
In contrast, MovieBloc was CoinMarketCap’s 355th largest cryptocurrency on 10 March 2022. CoinMarketCap gave MovieBloc a $0.008685 Coin Price, a $117.481million Market Cap, a $260.535 million Diluted Market Cap, and a 24-Hour Market Volume of $47.673 million. They based those numbers on a Circulating Supply of 13.53 billion MBL, a Maximum Supply of 30 billion MBL, and a Total Supply of 30 billion.
In contrast, Coinbase gave Movie Bloc a Coin Price of $0.0077, a Market Capitalization of $1204.6 million, and a 24-Hour Market Volume of $42.6 million on 10 March 2022. They based those numbers on a Circulating Supply of 13.5 billion MBL. Coinbase gave Movie Bloc an all-time high of 5₵.
I think, MovieBloc is an interesting cryptocurrency with some value. MovieBloc is selling a genuine product that people pay money for. However, I think MovieBloc will need a true blockbuster to make money. Thus, I list MovieBloc (MBL) as a cryptocurrency to watch.
Originally published at https://marketmadhouse.com on March 10, 2022.
