Friday, January 21

They create DAO to buy Blockbuster brand and make DeFilm transmission

The fate of the defunct Blockbuster, the world’s largest video store chain for years, could become a DAO. Tasafila, who presents himself on Twitter as the founder of SuperInfinity, explains that you want to constitute a DAO to collectively rule the brand and make Blockbuster the first DeFilm streaming platform. Tasafila’s objective is to create a DAO (Decentralized Autonomous Organization) to buy the brand from Dish Network, which is the owner of Blockbuster. The current owner has already received several offers for the brand.

Tasafila has explained in a Twitter thread that he plans to raise more than $ 5 million through the DAO, through the sale of NFT tokens. Decentralized cooperation, which is made possible by blockchain technology, has already proven its great strength. Examples like ConstitutionDAO, which managed to raise $ 46 million in less than 3 days is one example. BlockbusterDAO will offer tokens Blockbuster DAO NFT con A value of 0.13 ethers (about $ 500 today), the DAO reported via Twitter.

ConstitutionDAO: Example of How DAOs Will Transform Web Industries 3

Blockbuster, DAO and DeFilm streaming

Thanks to the DAO (Decentralized Autonomous Organization), the community will be able to manage the brand and turn it into a product of the Web3. In his welcome message on Discord, Tasafila states that the decentralization of films (DeFilm) will change the way the film industry is financed and managed forever.

If BlockbusterDAO buys the brand, then Blockbuster will restart operations as a movie studio and become a DeFilm streaming platform, making a substantial contribution to the future growth and development of the motion picture industry. The organization explained the current importance of getting Blockbuster back, after it has become an industry icon around the world. Blockbuster was the largest chain of movie rental stores, with more than 9 thousand stores in the world.

DAO: Governance, transparency and security

Through a DAO, a code-governed decentralized organization, BlockbusterDAO investors will be able to decide on the future of the brand. Within DAOs, the user community is governed by rules established through smart contracts written on the blockchain. What provides transparency, immutability, autonomy and security.

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Tasafila wants to make Blockbuster the DAO that will lead the DeFi revolution in the film industry for years to come. Although it has not yet defined the way forward, BlockbusterDAO is thinking about the possibility of adopting Ethereum’s ERC-20 standard tokens to create unique and immutable passes for its community. The DAO explained that it could buy the rights to movies and partner with a distribution company to make it to theaters. Or, publish the content on your website exclusively or lease the content to other streaming platforms. Using ERC-20 tokens to create “movie pass”.

Blockchain and NFT games

In addition to a DeFilm streaming platform, BlockbusterDAO also wants to turn Blockbuster into a blockchain gaming platform, to expand its presence within the growing world of NFTs and the Metaverse. DAO wants to offer initiatives of collective interest to Blockbuster, adapting to the needs of the new generation of consumers. The brand can become a solid platform that facilitates access to blockchain games, where users can generate rewards and develop their own economies. Also, through NFTs, you could negotiate the intellectual rights of films among interested investors.

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The phoenix of the cinema

Despite Blockbuster’s failure more than 7 years ago, the brand remains intact in the minds of many consumers. Indeed, his reputation has improved. Based on this, BlockbusterDAO considers that the community is ready to exercise governance and maintain ownership of the famous brand.

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