dao wants to make blockbuster film

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.

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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.

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.

Dao wants to make blockbuster filme

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.

Dao wants to make blockbuster films

Just weeks after a decentralized autonomous organization (DAO) tried to buy an original copy of the US Constitution, another historical artifact has become the target of a DAO: the defunct movie rental business Blockbuster.

The new DAO’s name is, aptly, BlockbusterDAO. According to aTwitter threadposted on December 25, BlockbusterDAO seeks to govern the Blockbuster brand and create a decentralized film streaming service out of it — with plans for movie financing and production down the road.

To achieve its goals, BlockbusterDAO intends to raise $5 million to purchase Blockbuster from Dish Network, an American television provider that bought the movie rental company in2011.
BlockbusterDAO aims to raise the cash by selling BlockbusterDAO NFTs for 0.13 ETH (about $530 USD).

Dao wants to make blockbuster 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.

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.

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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About the Author

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

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.

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.

Just weeks after a decentralized autonomous organization (DAO) tried to buy an original copy of the US Constitution, another historical artifact has become the target of a DAO: the defunct movie rental business Blockbuster.

The new DAO’s name is, aptly, BlockbusterDAO. According to aTwitter threadposted on December 25, BlockbusterDAO seeks to govern the Blockbuster brand and create a decentralized film streaming service out of it — with plans for movie financing and production down the road.

To achieve its goals, BlockbusterDAO intends to raise $5 million to purchase Blockbuster from Dish Network, an American television provider that bought the movie rental company in2011.

BlockbusterDAO aims to raise the cash by selling BlockbusterDAO NFTs for 0.13 ETH (about $530 USD).

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.

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