dao to make blockbuster decentralized film

In Q3 2021, Dish Network reported a total revenue of $4.45 billion, so $5 million for the brand to BlockbusterDAO would constitute 0.1% of the company’s earnings.

BlockbusterDAO seems to be aware of this problem, proposing to “begin awareness and PR campaign to build pressure to sell“:

When are we successful?

When we win an Oscar AND a Golden Globe for a Blockbuster Original Film.

When we reach $1B in Annual Reocurring Revenue (ARR).

When we lead all DAOs in Total Value Locked (TVL).

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

However, it was also the case with ConstitutionDAO that they managed to raise well-above the initial threshold, overshooting it by 137.42%.


The tweet also read, “We’re back from the grave…”

We’re back from the grave… pic.twitter.com/CT3yHr9EKA

— Blockbuster (@blockbuster) July 22, 2022

In true sense, if Dish goes on to sell the IP rights to DAO and BlockBusterDAO is formed, then it officially will be the resurrection of the company.

Blockbuster’s History.

Formerly known as Blockbuster video, the company was majorly an American-based provider of home movie and video game rental services. The company also started its global operations in early 1990’s with a vision to spread its wings all around the world.
The peak of the company was seen at 2004 with around over 9000 stores across the globe.

Blockbuster DAO’s claims!

According to rumors it is heard that, Decentralized Autonomous Organization, is planning to acquire the existing rights of Blockbuster from Dish Network to form Decentralized Film streaming studio.

Since the DAO’s interest in acquiring Blockbuster is going rounds around the market, the integration was named as BlockbusterDao by netizens. Let’s look at a tweet below:

Okay but HOW do we buy Blockbuster?

1.Raise $5M+ through the Blockbuster DAO NFT mint at a 0.13Ξ each.

2.
Begin awareness and PR campaign to build pressure to sell

3. Buy Blockbuster from Dish Network

4. Register all intellectual property in the name of the DAO

— R3WIND (@R3WINDxyz) December 26, 2021

The tweet clearly mentions the blueprint that will be followed by DAO to buy Blockbuster.

Dao to make blockbuster decentralized filme

The DAO is keen in buying out Blockbuster from Dish at any cost and is making progressive steps in the proposed direction. But, according to rumors, Dish Network, which is the current owner of the IP rights of Blockbuster is consistently refusing to sell to BlockbusterDAO.

The concept of DeFilm

Credits: Medium

Basically, the concept of Defilm originates from the ideology of making a movie on a blockchain technology.

Since Blockbuster seems to be the perfect name for the starters and considering the prior experience of Blockbuster in filming industry the DAO feels that it is the accurate plan of action to create BlockbusterDAO for the growth of the Defilms.

Blockbuster’s tweet of waking from the grave.

Around 19hours ago, Blockbusters official twitter handle went on to tweet with a gif showing the visuals of rising from the grave.

Dao to make blockbuster decentralized filmed

In addition to BlockbusterDAO’s current offering in the world of decentralized movies, there was also anNFT auction earlier this month to fund theFreeRossDAOgroup’s cause, dedicated to Ross Ulbricht, founder of Silk Road.

Basically, Ulbricht’s first NFT “Genesis Collection” ( currently in prison with the disproportionate prison sentence of two life sentences plus 40 years)raised over 2,800 ETH, about $12 million at the time.

These funds will be used primarily to free Ross, promote prison reform, and share Ross’ work with the world, giving everyone a chance to own it.

Dao to make blockbuster decentralized films

For those unfamiliar, DAO stands for decentralized autonomous organization. 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.

, but that the price will be higher to beat any counteroffer.

That’s why, in anticipation of starting the new project, BlockbusterDAO thinks it’s necessary to provide forfundraising of at least $5 millionthrough BlockbusterDAO’s NFT minting. To that end, here’s how it quotes the tweet:

“Okay but HOW do we buy Blockbuster?

  1. Raise $5M+ through the Blockbuster DAO NFT mint at a 0.13Ξ each.
  1. Begin awareness and PR campaign to build pressure to sell
  1. Buy Blockbuster from Dish Network
  1. Register all intellectual property in the name of the DAO.”

FreeRossDAO and the winning of Ross Ulbricht’s NFT collection

In 2021, Decentralized Autonomous Organizations, or DAOs, continue to gain momentum.

The Twitter account @BlockbusterDAO announced in a Dec. 25 tweet that it was forming “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.”

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.

What Is a DAO?

Let’s start with the basics.

For those unfamiliar, DAO stands for decentralized autonomous organization.

Blockbuster?

BlockbusterDAO is both a Twitter handle, having joined the platform this month, and a name for a new DAO. Its stated goal in a recent Twitter thread from December 25th is to raise enough funds to buy the Blockbuster brand from the current owner, Dish Network, a satellite TV provider with a 15.6% market share in the US.

From the thread, it is clear that BlockbusterDAO wants to buy the brand to achieve the following objectives:

  • Transform the Blockbuster brand into a DAO platform for streaming videos and fund film projects.
  • Raise $5 million to beat counter-offers for the Blockbuster IP brand from Dish Network.
  • The funds would be raised by selling NFTs, where each NFT would cost 0.13 ETH.
  • If successful in buying the Blockbuster IP, it would be registered to the DAO.

We have seen variations of this approach in play before.

DAO wishes to buy Blockbuster and turn it into a decentralized streaming service. In a Twitter thread, BlockbusterDAO, an Ethereum-based DAO, declared its intention to raise $5 million in NFT sales in order to acquire the Blockbuster video rental brand.

DAO wishes to buy Blockbuster and turn it into a decentralized streaming service

Image Source: Coin News

A decentralized autonomous organization (DAO) has targeted another historical treasure, the defunct movie rental company Blockbuster, just weeks after attempting to purchase an original copy of the US Constitution.

BlockbusterDAO is the name of the new DAO.

Many believe GameStop was saved from bankruptcy by retail trader-fueled nostalgia. Can the same work for the iconic Blockbuster franchise, but in a new tokenized DAO form?

Payment integration is not the only thing FinTech revolutionized.
By pushing the envelope of convenience, FinTech sparked the growth of crowdfunding campaigns. Last year, in North America alone, crowdfunding funds increased by 33%, generating $17.2 billion. On average, such campaigns manage to raise about $29k.

However, as we near the end of 2021, we are seeing the evolution of crowdfunding through decentralization. More specifically, tokenized DAOs – decentralized autonomous organizations – are ending the year with a bang.

After all, DAOs are resistant to deplatforming while providing a transparent form of staking and voting through tokens.

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