Blockbuster as a company is a holdover from times that will never return, but the brand as such continues to enjoy popularity. So much so that a group of people want to revive it, but now under the benefits of a more modern technology such as blockchain.
The initiative called BlockbusterDAO (DAO comes from a decentralized autonomous organization, for its acronym in English), which is made up of a group of investors who seek to raise $ 5 million dollars to acquire the remnants of the company; basically, the name, the logo and little else.
A few days ago, the group’s Twitter account wrote on Twitter that “it is time to free the brand from purgatory and give it a new life.” Blockbuster is, in the opinion of these people “a brand that should be owned by people and directed by people”, further ensuring that even the name of Blockbuster is appropriate for a product on the Web3.
What the hell do we do after we buy Blockbuster?
This is a question I’d like to speculate on, but I am ultimately aware that the course of the brand in the Web3 space will be up to the DAO. But here’s how we see it…
& mdash; BlockbusterDAO (📼, 📼) (@BlockbusterDAO) December 26, 2021
The idea of this group is, in addition to acquiring ownership of the brand that today belongs to Dish Network in the United States, is to raise it as a mix between streaming service and film production company. But to do this, the first thing is to raise money and that is where NFTs come in: the goal is to sell tokens non-expendable and thus finance the following operations.
In the future, Blockbuster could become the first decentralized platform for movies and other media; the Twitter account mentions, in an extensive thread, that the new Blockbuster would have to use its franchises in the world of video games and even create a kind of Movie Pass to distribute content over the internet.
Of course, there are several doubts that remain after this declaration of intent. Initially, that the announcement is made in such an informal way can be one of the first alerts, in addition to the existence of potential NFTs, with all that that means. On the other hand, $ 5 million is a relatively low amount for any serious investor, so the following movements of this group will have to be watched at least with curiosity.