The BlockbusterDAO needs to lift a minimum of $5 million to shop for the long-lasting video rental complete from Dish Network and switch it into a streaming film studio.
A new decentralized autonomous organization (DAO) has been formed with the goal of shopping for the Blockbuster complete from Dish Network and turning it into a movie studio and streaming platform.
Blockbuster Video is an american video rental company based in 1985 that once had vi,000 stores globally and was valued at over $8 billion, before it shuttered most of its operations in 2014. it's presently in hand by Dish Network and operates only 1 store in Bend, Oregon.
The DAO interested in “liberating” Blockbuster from Dish Network is that the aptly named BlockbusterDAO. The DAO explained during a Dec. 26 tweet its plans on rallying a grassroots effort to shop for Blockbuster by raising a minimum of $5 million through a Blockbuster DAO NFT minting event. every NFT are valued at 0.13 ETH.
BlockbusterDAO plans on turning Blockbuster into a suburbanized film (DeFilm) streaming studio. DeFilm is an experiment launched in July that proposes to “actually create a picture show with decision making happening on a blockchain.” ‘Block’ buster appears to be a fitting name for such a project.
The DAO is presently composed of regarding nine,000 netizens on Twitter and a Discord server who deliberate over however the DAO can do its goals. The BlockbusterDAO seems to be sound into the social media light-emitting diode want to resurrect memestock brands like Gamestop and AMC, whereas following the same path thereto set down by ConstitutionDAO (PEOPLE) simply over a month past.
ConstitutionDAO aimed to shop for a resourceful copy of the Constitution of the united states of America from the Dorothy Tapper nihilist Foundation at auction. ConstitutionDAO ultimately did not deliver the goods its goal as hedge fund manager Kenneth griffin paid a complete of $43.2 million for the copy within the Sotheby’s auction on November. 19. Following the auction, the DAO offered full refunds for anyone who given. people who failed to take refunds unbroken their individuals tokens.
( Brian Newar, Cointelegraph, 2021 )