Dao to make blockbuster decentralized film

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dao to make blockbuster decentralized film

BlockbusterDAO website or streaming platform, or by leasing the film rights to third-party streaming platforms.

Ultimately, the goal would be to create the first-to-market DeFilm Streaming platform and potentially move into the gaming industry — all while resurrecting a beloved, iconic brand.

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Dawn Allcot is a full-time freelance writer and content marketing specialist who geeks out about finance, e-commerce, technology, and real estate.


Despite its 1/1 brand recognition, the company was destroyed by terrible leadership with an inability to pivot and make dynamic business decisions.

The brand still prevails in the minds of everyday consumers according to Brandwatch:

“(They) found a strong correlation between Blockbuster and streaming service conversations, with around 2 million mentions containing Blockbuster as well as one of the top streaming services…

… (Since 2013,) sentiment has improved from a score of -20 to positive 14. In other words, people’s feelings for Blockbuster turned positive once its stores were gone.”

The new project has been dubbed“DeFilm”and revolutionizes the creative decision-making and financing of the film and television industry through DAO governance.


According to a December 25 Twitter thread, BlockbusterDAO aims to take over the Blockbuster name and turn it into a decentralized film streaming service, with ambitions for movie funding and production in the future.

Our mission is to liberate Blockbuster and form a DAO to collectively govern the brand as we turn Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products, but a powerhouse in the future of the film industry. Read the 🧵👇

— BlockbusterDAO (📼,📼) (@BlockbusterDAO) December 26, 2021

BlockbusterDAO plans to fund $5 million to buy Blockbuster from Dish Network, an American television corporation that purchased the movie rental company in 2011.

Dao to make blockbuster decentralized filme

The company had also given employment opportunities to around 80k people.

The great recession which hit US between 2007 to 2009 and the inefficiency in leadership, proved to be the major reasons for the downfall of the company. The company went on to file for bankruptcy in 2010. With a competition from Netflix, the situation just got worse for Blockbuster.

In 2011, some of the stores of Blockbuster were brought by Dish Network, and in 2014 the company went on to become insolvent.

But, as shown in the tweet above, the company has made cryptic tweets about it being back in the business.

Dao to make blockbuster decentralized filmed

Citadel hedge fund manager Ken Griffin.

Related: Where Does Cryptocurrency Come From?

How Much Is Blockbuster Worth?

BlockbusterDAO believes the Blockbuster brand name is worth more than $5 million — although a company recently put in an offer of $1.8 million, which Dish Network declined, according to BlockbusterDAO’s tweet.

Should the DAO collect the funds — through the sale of NFT’s worth roughly $530 USD, purchased with 0.13 in Ethereum — it will begin to pursue the purchase.

Learn: How Much Money Can You Make From Crypto Mining? Explore: A Look at the Ups and Downs of Crypto in 2021

BlockbusterDAO foresees raising additional funds through the continued sale of NFTs and a rewards program that encourages community participation.

Dao to make blockbuster decentralized films

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How Much Is Blockbuster Worth?

BlockbusterDAO believes the Blockbuster brand name is worth more than $5 million — although a company recently put in an offer of $1.8 million, which Dish Network declined, according to BlockbusterDAO’s tweet.

Should the DAO collect the funds — through the sale of NFT’s worth roughly $530 USD, purchased with 0.13 in Ethereum — it will begin to pursue the purchase.

Learn: How Much Money Can You Make From Crypto Mining? Explore: A Look at the Ups and Downs of Crypto in 2021

BlockbusterDAO foresees raising additional funds through the continued sale of NFTs and a rewards program that encourages community participation.

Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products, but a powerhouse in the future of the film industry.”

See: How Safe Are Your Crypto Investments? Find: The Most Expensive Cryptocurrencies

The DAO stated that positive sentiment surrounding the Blockbuster brand, including the nostalgia around the company, gives the name value. In a tweet storm, the DAO explained how it could buy the Blockbuster brand from its current owner — Dish Network — how much it plans to offer, and what it plans to do if and when the purchase is made.

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What Is a DAO?

Let’s start with the basics.

The DAO, which is apparently less than two days old, aims to purchase the brand from its current owner Dish Network, which had bought it back in 2011 for USD 320m, and turn it into a decentralized film streaming service.

“It’s time to build a massive DeFilm project that will revolutionize the creative decision-making and financing of the film and television industries forever,” the DAO said, adding that they would raise funds by selling BlockbusterDAO non-fungible tokens (NFTs) for 0.13 ethereum (ETH) (USD 530) per item.

The team noted that they have chosen the USD 5m target to be able to beat out possible counter-offers as an interested party has already put forward an offer of USD 1.8m for the brand.

Should the DAO manage to acquire the brand, it would develop an NFT strategy to fund activities such as buying movies from the film circuit.

These are all tailwinds for future overfunded projects with secondary goals that may turn into Big DeFi juggernauts.

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Why Did Blockbuster Fail?

The story of Blockbluster is eerily similar to GameStop. Launched in Dallas in 1985, Blockbuster’s in-store video rental business model grew to a massive network of 9,000 outfits across the country.

Unfortunately, it couldn’t last long beyond its peak in 2004 when Blockbuster scored $5.9 billion in revenue.

The mass adoption of broadband internet, cheap storage, and on-demand online video, all conspired to erode Blockbuster’s business model. This was further exacerbated by eliminating late fees, exerting a cost at around $200 million, alongside the unsuccessful launch of Blockbuster Online.

BlockbusterDAO wants to turn the historic Blockbuster movie brand into a decentralized streaming movie platform, dubbed DeFilm. On the crypto-lovers’ social, Twitter, the group describes its mission and its plan to achieve it.

BlockbusterDAO, the new DeFilm project for the historic brand

In aroundupof tweets, theBlockbusterDAOaccount debuted its idea of wanting tobuy and transform the historic movie brand, now benched by Netflix and other brands, intoa decentralized streaming movie service.

The choice of the brand from this DAO was not made at random.
Here’s how the Twitter account explains the motivations that led it in this direction:

“Why buy Blockbuster?

The Blockbuster brand is not only nostalgic, but it’s a historic landmark in the history of film.

The first DAO was launched in 2016 to help developers automate decisions and facilitate cryptocurrency transactions. In the case of the Blockbuster brand acquisition, the DAO will ostensibly be acting as a venture capital fund.

A DAO operates without a CEO or board of directors.
Most of the decision-making is automated. However, the DAO can issue non-fungible tokens (NFTs) to investors, giving them voting rights. In the case of BlockbusterDAO, those investors would have the ability to vote on decisions regarding the Blockbuster brand.

Most recently, a group of people created a DAO — ConstitutionDAO — and raised $47 million in an attempt to buy a rare copy of the U.S.
Constitution at a Sotheby’s auction. The group did not win the bid, although the rare artifact ultimately sold for $43.2 million, Sotheby’s announced in a tweet.

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