A new decentralized autonomous organization (DAO) has been formed with the goal of purchasing the Blockbuster brand from Dish Network and turning it into a movie studio and streaming platform.
Blockbuster Video is an American video rental company founded in 1985 that once had 6,000 stores worldwide and was valued at more than $ 8 billion, before closing almost all of its operations in 2014. It is currently owned by Dish Network Y Opera just one store in Bend, Oregon.
The DAO interested in "unlocking" Blockbuster from Dish Network is aptly named BlockbusterDAO. The DAO explained on a December 26th. cheep their plans to put together a grassroots effort to buy Blockbuster by raising at least $ 5 million through a Blockbuster DAO NFT minting event. Each NFT will be valued at 0.13 ETH.
BlockbusterDAO plans to turn Blockbuster into a decentralized movie (DeFilm) transmission study. DeFilm is an experiment launched in July that proposes "making a movie with decision-making on a blockchain." Buster 'Block' seems to be an appropriate name for such a project.
Our mission is to unleash Blockbuster and form a DAO to collectively rule the brand as we make Blockbuster DeFilm's first streaming platform and a mainstay of Web3 brands and products, but a future powerhouse of the motion picture industry. Read the
- BlockbusterDAO (,) (@BlockbusterDAO) December 26, 2021
The DAO is currently comprised of some 9,000 Twitter users and a Discord server deliberating on how the DAO can achieve its goals.
BlockbusterDAO appears to be tapping into the social media-driven desire to resurrect memestock brands like Gamestop and AMC, while following a path similar to that set out by ConstitutionDAO (PEOPLE) just over a month ago. ConstitutionDAO aimed to purchase an original copy of the Constitution of the United States of America from the Dorothy Tapper Goldman Foundation at auction.
ConstitutionDAO as a last resort did not achieve its goal as hedge fund manager Kenneth Griffin paid a total of $ 43.2 million for the copy at the Sotheby's auction on November 19. After the auction, the DAO offered full refunds for anyone who donated. Those who did not accept refunds kept their PEOPLE tokens.
Related: ConstitutionDAO: PEOPLE price increases 200% with the introduction of the new token 'We The People'
Just over a month later, on December 23, PEOPLE was listed on Binance where it is currently trading for around $ 0.11.
The ConstitutionDAO team has shown its support for BlockbusterDAO's efforts by tweeting December 27th:
"PLEASE bring the blockbuster back, @Netflix it's been out of control for too long. "
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