Mogaland: The Future of Financial Literacy Through Gaming
A Deep Dive By Ryisan Champion
I recently had the pleasure of diving deep into the world of Mogaland, a revolutionary platform that’s changing the way we approach financial literacy. Through a series of questions, I uncovered the magic behind this immersive video game that’s teaching people about personal finance in a way that’s never been done before.
When I asked about the inspiration behind Mogaland, the answer was clear: traditional financial education often falls short. It can be boring, lonely, and lacks tangible rewards. Enter Mogaland, a game that doesn’t just gamify financial education but offers an authentic gaming experience.
BS. Can you provide an overview of Mogaland and its unique approach to financial literacy?
ML:The unique approach to financial literacy is to use an immersive video game where people can play to learn and practice personal finance.
BS. What were the key challenges in traditional financial education that inspired the creation of Mogaland?
ML: We aim to resolve engagement challenges often associated with financial education, such as boring, loneliness & a lack of rewards.
BS: How does Mogaland turn learning personal finance into a fun gameplay experience, and what differentiates it from other financial literacy platforms?
ML: We have an highly innovative game-design approach that combines proven popular game mechanics that people love with real-world financial knowledge and data to create an educational yet fun and exciting experience. No other financial literacy platforms does this, they only gamify at best, which is not the same.
Imagine a world where you’re not just reading about stocks and bonds but actively participating in a dungeon treasure hunt, answering financial questions to defeat enemies. Or joining community tournaments, analyzing real-world stocks, ETFs, and cryptos to win.
BS. Could you elaborate on the immersive game aspect of Mogaland and how it puts users’ real-life financial skills to the test?
ML: Let’s take an easy example. Think about the Flight Simulator game, which provides a realistic physics engine to give you the full experience of flying. Great for pilot training. But there’s no real risk of crashing and killing anyone. However, if you gamify a real cockpit by adding points, badges and trophies that’s really dangerous! That’s the difference between Mogaland and other apps, we don’t gamify, we create a real immersive video game where it is safe to learn and practice personal finance.
Mogaland puts real-life financial skills to the test by utilizing chill and enjoyable gameplay like a dungeon treasure hunt where you need to defeat enemies by answering financial knowledge questions. Or community tournaments where you get to learn about real-world stocks, ETFs and cryptos and make real price analysis in order to win.
The Flight Simulator game analogy they provided was spot on. Just as the Flight Simulator offers a realistic flying experience without the real-world risks, Mogaland offers a safe space to learn and practice personal finance. It’s not about adding points or badges to real-world financial situations, which can be dangerous. Instead, it’s about creating a genuine video game experience where learning about finance is both fun and safe.
But what truly sets Mogaland apart is its community-driven approach. The platform uses $MOGA rewards, which are unlocked when the community achieves collective financial literacy goals.
BS. What role does collaboration play in the Mogaland community, and how are $MOGA rewards used to motivate and reward collaboration?
ML: $MOGA rewards are unlocked when the community reaches collective financial literacy goals, meaning if you help others, it speeds up and increases your own chances of getting rewards. Also anyone in Mogaland can contribute to others learning by creating learning content (like quiz challenges) and earn $MOGA for it.
This means that by helping others, you increase your chances of earning rewards. And for those with a knack for creating content, there’s an opportunity to earn by developing learning materials like quiz challenges.
The integration of real-time financial markets and data into the game is another standout feature. Some mini-games are directly connected to real-time financial market data feeds, allowing players to learn about various financial instruments and how news impacts pricing, all while playing a game.
BS. What options does Mogaland offer for learners, and how does the free-to-play model work for them?
Mogaland is free-to-download and free-to-play for all. Like you would in a video game, learners can watch ads to get boosters, revive or small in-game rewards. Additionally, learners will have the option to purchase playable items (in-game digital items or NFTs) if they wish to take their gameplay to the next level. In the future, there will be learning packages and subscriptions provided by both Mogaland and our official e-learning partners who are professional educators. There’s no obligation to pay for anything.
Mogaland’s free-to-play model ensures accessibility for all. While the game is free to download and play, there are options for in-game purchases to enhance the gaming experience. And for those looking to take their involvement to the next level, there are opportunities to rent or purchase property within the game, place ads, or engage learners. This is not all in speaking with the team at Mogaland I was able to uncover far more plans that seemingly set the project on the path to greatness as what financial educators or creators can expect from the game.
BS: How can creators, such as financial educators or institutions, participate in Mogaland, and what opportunities does it offer them?
ML: Financial information, knowledge content and education creators can apply to have a building, an island or to sponsor financial skill-based tournaments.
Institutional creators are welcome to sponsor:
-> A building will allow them to showcase their brand, their product & services in the financial literacy areas, created customized tournaments, access exclusive promotional events and win new customers.
-> An island will allow them to achieve everything as the building but with a lot more customization possibilities like hosting customized financial edutainment, creating unique portals to their media content or communities and more.
-> Sponsor prizes for financial skill-based tournaments.
All of these will help:
- transform their brand image,
- provide access to a wider range of audience,
- use marketing budget more efficiently, more sustainably and create more good,
- meet CSR (corporate social responsibility) goals,
- convert tournament winners to customers.
Indie creators are welcome to publish their financial education content in Mogaland, join our promotional events to spread financial literacy to grow their brand and earn $MOGA
Everyone’s welcome get in touch with us via our website (www.mogaland.io) or via Linkedin to learn more.
BS: What types of content can creators publish in Mogaland, and how can they engage with users?
ML: To start, Creators can publish/create:
i) Quiz game content in Mogaland under their own brand, and they can have a channel in our Discord community to talk with learners about the subject.
ii) Customized skill-based tournament and compete with their followers to top the leader board
iii) Other learning content that can be helpful to the community can be published in the Discord community and be productized later based on performance. Creators can expect to be given credit, have full transparency in collab, and be rewarded with $MOGA and/or revenue share.
BS. Could you provide more details about the native token $MOGA and how it functions within the ecosystem?
To realize our vision of turning Benjamin Franklin’s quote, “An investment in education pays the best interest” into reality and contribute to a more financially equitable world, Mogaland will start with a single token system that is transparent, robust, and rewarding by introducing $MOGA, the only token in the world that is entirely dedicated to creating and rewarding financial literacy.
For learners, $MOGA will create incentives, rewards and long term value gains for their learning and achievements in Financial Literacy. The more learners play, the more they will contribute to the collective financial literacy, hence triggering $MOGA learning reward to be unlocked and distributed.
There will be unique token governance and monetary mechanisms in place to:
trigger token-burning whenever collective learning rewards are unlocked, ensuring that the $MOGA token price positively reflects the level of financial literacy being achieved by Mogaland players.
trigger Mogaland to purchase $MOGA using the fiat revenue generated by Mogaland. This will ensure that the price of $MOGA token positively reflects the overall financial success of Mogaland, and that success is being shared with all $MOGA token holders.
This all means that creators, including financial educators and institutions, can get involved in a big way. The possibilities are vast, from sponsoring buildings and islands to hosting financial edutainment and creating unique portals for their content. This helps brands transform their image, provides access to a wider audience, and meets corporate social responsibility goals.
Two major points to remember are:
- $MOGA value is driven by financial literacy
- Rewarding experiences for both Mogaland learners and $MOGA token holders.
In addition to enjoying long term value increase, holders of $MOGA will be able to use $MOGA for in-game payments, be in the unique position to unlock additional engagements and participate in co-ownership governance processes by voting.
$MOGA represents voting rights, hence co-ownership and not sole decision-making power. Co-ownership governance processes will apply to, but not be limited to, decision-making around:
- Creator content submission approval;
- Financial literacy reward distribution;
- Mogaland community code of conduct;
- New game feature priorities;
- Reward design for special events.
Looking at all of this one cannot be anything less than excited to learn about finances and wonder why this wasn’t around when I was a child.The new world of web3 is rife with new possibilities and opportunities and Mogaland is definitely one great opportunity for many.
When questioned on the inspiration for their choice of gaming as a medium for improving financial literacy, the team answered that Mogaland was inspired by the success of games like Animal Crossing in imparting financial knowledge.
BS: What motivated the choice of gaming as a medium for improving financial literacy, and what scientific research supports this approach?
ML: We were inspired by many mainstream news agencies reporting that Nintendo’s top game Animal Crossing has significant impact on financial literacy, and saw how people reacted to it when there was a “rate change” in the Animal Crossing central bank — the financial impact on people was real. There are many top educational institutions that studies and reports on the impact of game-based learning and how utilization of web3 concepts further fuels it.
Every game is a natural economy full of assets that people need and want to earn/own. Gameplays create supply and demand for the assets. This nature makes games the perfect place to learn about personal finance!
Top academic research around game-based learning, game design and web3 in game-based learning:
Presentation by doctoral candidate at the University of Michigan School of Information:
https://www.ted.com/talks/caitlin_holman_how_game_design_can_help_schooling
Boston University faculty / edtech entrepreneur
https://www.ted.com/talks/beth_porter_to_the_metaverse_it_s_time_for_game_based_learning_to_grow_up
Numerous studies and reports have highlighted the impact of game-based learning, and Mogaland has tapped into this potential to create a platform that’s both educational and entertaining.
As for the future, Mogaland has big plans. With a feature-rich Alpha Season 1 launch on the horizon and a series of community-building activities in the pipeline, the team is eager to gather feedback and continuously improve the platform. Their vision is clear: to make financial education universally accessible, engaging, and fun.
BS: What are your goals and expectations for Mogaland’s future growth and impact on financial literacy?
ML: We have made amazing progress with building the product, and very soon we want to bring our baby into the world to let people enjoy it.
In the near future, we’ll be launching a feature rich Alpha Season 1 and kick-off a series of community building activities. We want to get feedback from the learners, from our community to see how we can further improve the designs to better help people on their learning journey for financial literacy.
Our vision for Mogaland’s future growth and impact on financial literacy is deeply rooted in the understanding that financial literacy is a universal necessity transcending geographical boundaries, backgrounds, and age groups. Therefore, our expectations are:
1. Global Accessibility: We aim to reach people worldwide, of all backgrounds and ages, making financial education universally accessible and engaging.
2. Inclusivity: Mogaland is designed to resonate with both learners and financial education content creators, fostering a financially diverse and inclusive community.
3. Engagement: We expect Mogaland to become a global sensation by offering a fun and interactive learning experience that fuels a passion for financial education.
4. Community: We invite individuals who share our belief in the importance of financial literacy to join our global community, collectively contributing to raising financial literacy levels worldwide
For those looking to get a head start, there are pre-launch activities and giveaways to participate in. As the team behind Mogaland aptly put it, “Financial success is not an overnight sensation but rather a journey that requires patience, discipline, and continuous learning.” And with Mogaland, that journey promises to be an exciting one.
So, if you’re curious about taking your financial literacy to the next level while having a blast, give Mogaland a try. Join their community, participate in the pre-launch activities such as their live event tomorrow at 11:45 am eastern N.Y time on October 5, and embark on a financial journey like no other.
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