Skip to main content

DAO aims to raise $5M to resurrect Blockbuster Video

The BlockbusterDAO wants to raise at least $5 million to buy the iconic video rental brand from Dish Network and turn it into a streaming film studio.

A new decentralized autonomous organization (DAO) has been formed with the goal 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 which once had 6,000 stores globally and was valued at over $8 billion, before it shuttered almost all of its operations in 2014. It is currently owned by Dish Network and operates just one store in Bend, Oregon.

The DAO interested in “liberating” Blockbuster from Dish Network is the aptly named BlockbusterDAO. The DAO explained in a Dec. 26 tweet its plans on rallying 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 on turning Blockbuster into a decentralized film (DeFilm) streaming studio. DeFilm is an experiment launched in July which proposes to “actually make a movie with decision making happening on a blockchain.” ‘Block’ buster seems to be a fitting name for such a project.

The DAO is currently composed of about 9,000 netizens on Twitter and a Discord server who deliberate over how the DAO can achieve its goals.

The BlockbusterDAO appears to be tapping into the social media led desire to resurrect memestock brands such as Gamestop and AMC, while following a similar path to that laid down by ConstitutionDAO (PEOPLE) just over a month ago. ConstitutionDAO aimed to buy an original copy of the Constitution of the United States of America from the Dorothy Tapper Goldman Foundation at auction.

ConstitutionDAO ultimately failed to achieve its goal as hedge fund manager Kenneth Griffin paid a total of $43.2 million for the copy in the Sotheby’s auction on Nov. 19. Following the auction, the DAO offered full refunds for anyone who donated. Those who did not take refunds kept their PEOPLE tokens.

Related: ConstitutionDAO: PEOPLE price pumps 200% as new ‘We The People’ token unveiled

Just over a month later on Dec. 23, PEOPLE was listed on Binance where it currently trades for about $0.11.

The ConstitutionDAO team has shown its support for the BlockbusterDAO efforts by tweeting on Dec. 27:

“PLEASE bring back blockbuster, @netflix has gone unchecked for far too long.”


from https://ift.tt/3zbSLLq
https://ift.tt/3Hlygz4
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

TA: Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300. Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels. The price is now trading above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair start a fresh rally above $2,300 as long as it is above the $2,000 support zone. Ethereum Price Is Showing Positive Signs After forming a base above $2,000, ethereum started a steady increase . ETH broke the $2,200 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even spiked above the $2,250 resistance level. However, the price seems to be struggling to gain pace above $2,250, similar to bitcoin . A high is formed near $2,285 and ether is now correcting lower. There was...
Post a Comment
Read more

I Stand By My $100,000 Bitcoin Price Target, Anthony Scaramucci

Anthony Scaramucci has again reiterated his stand on why he thinks bitcoin will still hit the $100,000 price target he had earlier set. Scaramucci had put forth this forecast when he was on Yahoo! Finance earlier in the year. The founder explained that bitcoin could easily be trading at $100,000 in 12 months. Anthony Scaramucci who founded Skybridge Capital in 2005 has not always been bullish on bitcoin. But has slowly come around over the years and has now gotten into bitcoin. The CEO believes that more and more funds will get into bitcoin as time passes. His message to other money managers had been that he believed the performance of their funds will eventually be benched off of bitcoin. Related Reading |  Bitcoin Whale Warns Of “November 2018 Vibes.” What This Means Scaramucci took this one step further when he founded the Skybridge Bitcoin Fund early this year. An institutional-grade fund that was created specifically to invest in bitcoin, which it considers to be the larg...
Post a Comment
Read more

SubQuery raises $9M for Polkadot data protocol

Blockchain venture capitalists continue to fund Polkadot projects with growing conviction. SubQuery aims to bring data indexing infrastructure to the network. Decentralized data aggregator SubQuery has concluded a $9 million funding round to build Polkadot’s first data aggregation layer, a move that could strengthen data indexing for the emerging interoperability network. The investment funds will be used to continue building SubQuery’s data indexing infrastructure for all Polkadot and Kusama applications, the company announced Wednesday. SubQuery also announced the investment would help it expand its technical abilities and support the open-sourcing of its software. This investment round was co-led by Arrington XRP Capital, Digital Currency Group and Stratos Technologies with additional participation from Hypersphere Ventures, NGC Ventures, Wintermute and Skynet Trading. Previously, SubQuery successfully raised $1.8 million in a private seed round that concluded in March of this y...
Post a Comment
Read more