MovieBloc price prediction: Solving monopolisation?

Content distribution platform MovieBloc offers a curated list of films using blockchain technology, but what is the latest MBL price prediction?

MovieBloc logo in white on a purple circle                                 
MovieBloc is on a mission to revolutionise and democratise the film and TV distribution industry – Photo: Shutterstock
                                

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With the rise of streaming platforms such as Netflix and Apple TV leading to an ever more centralised world of film and TV distribution, some crypto companies are attempting to use blockchain technology to counter the phenomenon.

MovieBloc was launched in 2019 by the Korean streaming platform Pandora TV and is attempting to solve the monopolisation of the TV and film industry by streaming giants. According to its website, the ecosystem is harnessing the power of blockchain to put control back in the hands of creators.

While this project certainly seems to attract plenty of investor attention, MBL has had a roller-coaster 2022 so far. So, what is the latest MovieBloc price prediction?

Before looking at any forecasts, let’s first take a quick overview of MovieBloc’s native token, MBL.

What is MovieBloc (MBL)?

MovieBloc launched on the Ontology blockchain and is now listed on a range of exchanges, such as Binance and Upbit, offering both viewers and creators the chance to earn rewards and contribute to the platform.

Creators, who retain greater power and control over their work than is usual, can receive donations from viewers via the native token, MBL. Upon uploading a film, uploaders can choose how much users should pay to watch their film. Creators can also earn revenue through advertising. 

Additionally, viewers can earn MBL on the platform by providing services to the community, such as writing reviews, subtitles or marketing materials. According to the website, if a viewer’s subtitles are selected and played alongside the film, the individual receives 5% of the creator’s revenue share, and viewers can access a larger selection of films by upgrading to the premium package.

The platform supports 78 languages, and has more than 600 subtitles and over 300 featured and short films. The website brands itself “the biggest participant-centric movie ecosystem”.

In February 2020, MovieBloc took over Cobak, a crypto community service based in Korea. MovieBloc’s announcement on Medium said: “Cobak has the world’s leading mobile service [which] provides crypto wallets, community, real-time ticker, news, airdrop and token sales services.” It added that by merging with Cobak, MovieBloc’s service operations would be strengthened.

On 2 March 2022, MovieBloc announced the following on Twitter: 

As a result of the partnership, Continuance Pictures, described as “one of Australia’s most exciting emerging film production companies”, will distribute its films on the MovieBloc platform.

Moviebloc also opened a submissions process for the Gwanghwamun International Short Film Festival (GISFF) 2022 in April. The winners of the 20th GISFF were revealed on 1 July:

As of 5 August, the token is trading at $0.004651.

Founders 

MovieBloc was co-founded by Chris KangJeffrey Jin and Peter Kim. Kang, based in South Korea, studied film and TV at Boston University in the United States. He subsequently worked as an analyst at CJ E&M in movie distribution, before working on the blockchain team at Pandora. Kang is the CEO of MovieBloc.

Jin completed a bachelor’s degree in international/global studies at the University of Washington, Seattle, before going on to complete a master’s degree in data science at South Korea’s Dankook University. He subsequently worked as a research assistant at EY and LEK Consulting before founding Upcoming, an internet services start-up.

Jin, who is based in South Korea, was COO at MovieBloc until December 2021. 

Before looking at MovieBloc price predictions for 2022, let’s do a quick overview of the recent performance of the MBL token.

From the MovieBloc whitepaper

Creators whose content is uploaded to the MovieBloc platform receive transparent revenue share, access to audience data and equal screening opportunities, according to the MovieBloc whitepaper.

The document states: “While the overall market is growing, the industry is also dominated by conglomerates with a vertical integration among three phases: production, distribution and exhibition. This integration causes barriers in the industry, such as biased screen allocation, as the business is mainly focused on obtaining wider audiences for stronger revenues.

“The filmmakers and audience are the main victims from this effect. The filmmakers are asked to produce films only with a high probability of commercial success. The consumer’s right to enjoy various and free choice of content is lost.”

Recent token performance

CoinGecko says that as of today, the token is up 63% in the previous 30 days, but is down by 90% from its all-time high in April 2021. 

According to a panel of technical indicators published by DigitalCoinPrice, 11 are suggesting a sell position, while nine suggest holding and six suggest buying. 

CoinMarketCap reports the token has a maximum supply of 30 billion tokens and a circulating supply of 14.43 billion MBL tokens, with a current market cap of $67m.

The site also shows that the MBL token dropped soon after launch, from $0.004481 on 26 June 2019 to $0.001358 on 29 September 2019. It rose to $0.005198 by 20 February 2020 but then fell again, and remained below the $0.003 mark for the remainder of 2020.

In 2021, however, MBL began to rise, hitting a record high of $0.04599 on 2 April 2021, before tumbling to $0.003494 on 22 June 2021. The coin rose soon after to $0.01359 on 25 November 2021 before falling to $0.005057 on 22 January 2022.

MBL has since risen to highs of $0.02276 on 21 March 2022, but has retreated to $0.004651 at the time of writing on 5 August 2022.

Now let’s look at some MovieBloc coin price predictions.

MovieBloc price prediction: Expert opinion

Predictions should be viewed as possibilities rather than absolutes. This is especially the case when looking at longer-term forecasts, because these can sometimes be completely off the mark, thanks to the inherent volatility of the crypto market.

Looking at MovieBloc crypto price predictions from three forecasters, Gov Capital takes an optimistic stance, suggesting MovieBloc could go up to $0.0164 in a year’s time. The platform’s MovieBloc price prediction for August 2027 stands at $0.0928. 

DigitalCoinPrice predicts that the coin could reach $0.0062 in September and $0.0067 in December. The MBL price prediction for 2023 is an average of $0.0069. The website’s MovieBloc price prediction for 2025 stands at $0.0092, followed by a general year-on-year uptrend to $0.0213 in 2030.

PricePrediction, meanwhile, says that MovieBloc could go up to $0.008 in 2023, before rising to $0.013 in 2024 and $0.019 in 2025. The site’s MovieBloc price prediction for 2030 is $0.13.

FAQs

According to CoinMarketCap, the MBL token has a maximum supply of 30 billion and a circulating supply of 14.43 billion.

The project is a very interesting one, with the unique and important goal of attempting to counter the monopolisation of the film and TV industry, and end the exploitation of the creatives whose work is being distributed. Its strong USP could mean that the platform turns out to be a good investment. 

It is important to understand, however, that cryptocurrencies are highly volatile assets, and analysts’ forecasts can often be wrong. You should always carry out your own research before making any investment.

It could go up, although it could also go down.

Please remember, cryptocurrencies are highly volatile assets and forecasts from analysts can be wrong. Never invest any money you cannot afford to lose.

Investing is a highly personal endeavour. Do your own research and keep up to date with any developments in the MovieBloc ecoystem that could boost or harm its prospects.

Remember, investing can be risky – that’s why you should always conduct your own research. And never invest money that you cannot afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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