DAO plans to raise $ 5 million to revive blockbuster videos

A new decentralized autonomous organization (DAO) was formed with the aim of buying the Blockbuster brand from Dish Network and turning it into a film studio and streaming platform..

Blockbuster Video is an American video rental company founded in 1985 that has grown to 6,000 stores worldwide and was valued at more than $ 8 billion before closing almost all of its stores in 2014.. It is currently owned by Dish Network and has only one store in Bend, Oregon.

The DAO interested in “freeing” blockbusters from the Dish Network is the aptly named BlockbusterDAO. The DAO explains in a tweet on Dec. 26, announced their plans to organize a grassroots effort to buy blockbusters by raising at least $ 5 million through a blockbuster DAO NFT minting event. Each NFT will be worth 0.13 ETH.

DAO plans to raise $ 5 million to revive blockbuster videos
DAO plans to raise $ 5 million to revive blockbuster videos

BlockbusterDAO plans to turn Blockbuster into a decentralized film streaming studio (DeFilm). DeFilm is an experiment started in July that suggests “actually making a film with decision-making taking place on a blockchain”. ‘Block’ Buster seems a fitting name for such a project.

Similar Posts