GEM Token Fund Commits $100M to MoviePass for Launch of Mogul – Hollywood's First Daily Fantasy Entertainment Platform
NEW YORK--(BUSINESS WIRE)--GEM Token Fund ISA Ltd. ('GEM' or the 'Fund') is pleased to announce the completion of its first transaction. The Fund's $100 million token purchase agreement with MoviePass Inc., a technology company redefining the moviegoing experience, and its partner, C3 Foundation, has been undertaken to accelerate the development of Mogul —the first-ever daily fantasy entertainment platform built for Hollywood.
Mogul, which launched in beta earlier this month, lets fans play the role of a studio head—predicting box office ranking, award outcomes, and sentiment scores in a game that blends Hollywood knowledge with the competitive spirit of fantasy sports. The platform taps into the excitement of real-world entertainment speculation, transforming passive viewership into active participation.
'With Mogul, we're inviting fans to become players in the entertainment ecosystem,' said Stacy Spikes, Co-Founder and CEO of MoviePass. 'Just as fantasy sports changed how people engage with sports, Mogul will redefine how fans engage with film and television. This investment gives us the runway to build something truly game-changing.'
The investment from GEM comes in the form of a flexible capital commitment over twenty-four months that MoviePass can draw upon as needed to scale Mogul. MoviePass will control the timing and the number of drawdowns, with no minimum drawdown obligation. Funds will be used to enhance platform features—including data-driven competitions, digital collectibles, rewards-based gameplay, and community-led challenges.
This transaction is GEM's inaugural commitment and marks the launch of the Fund. GEM's sponsor and majority GP shareholder is GEM Group, a $3.4 billion alternative investment group based in Paris, New York, and the Bahamas - with a 30-year track record of 570 transactions across 70 countries.
About GEM Token Fund ISA Ltd. (GEM)
GEM Token Fund ISA Ltd. ('GEM') is a Bermuda-domiciled investment vehicle, structured as a segregated account of DigitalArray ISAC Ltd. and regulated by the Bermuda Monetary Authority as a Professional Closed Fund under the Investment Funds Act 2006. GEM provides liquidity financing to blockchain and Web3 issuers of digital assets, leveraging a global network of top-tier service providers including AI Global Strategies ISA, KPMG Audit Limited, Walkers (Bermuda) Limited, and Apex Group. GEM is sponsored by GEM Group, which provides deep expertise in emerging markets, structured finance, and venture growth to its clients and partners. For more information: www.gemny.com.
About Mogul
Mogul is Hollywood's first daily fantasy entertainment platform, allowing fans to predict entertainment outcomes and climb leaderboards in a gamified, data-driven environment. Built on the Sui blockchain and backed by Mysten Labs and Animoca Brands, Mogul uses virtual currency and digital rewards to power its community. Beta access is live at mogul.moviepass.com.
About MoviePass Inc.
MoviePass is a technology company building the future of film engagement. From reinventing theatrical subscription to pioneering Web3 experiences, MoviePass connects audiences with the movies they love through innovation, community, and storytelling. Learn more at moviepass.com.
Disclosure: This press release contains forward-looking statements which are based on current expectations and are subject to risks and uncertainties. The Parties hereto assume no obligation to update forward-looking statements except as required by law. THIS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY A FUND OR SECURITY. ANY SUCH OFFER MAY ONLY BE MADE TO ACCREDITED INVESTORS AS DEFINED IN RULE 501 OF REGULATION D OF THE SECURITIES ACT OF 1933, AND ONLY VIA A PROSPECTUS.
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