Blockbuster DAO is here, and they plan to put Blockbuster back at the top of the film industry.
In a surprising and nostalgic move, Blockbuster DAO emerged on December 26th to announce their plans on Twitter.
Furthermore, the team plans to buy Blockbuster from Dish and turn it into the first DeFilm and streaming platform.
Although the Twitter account is brand new, they are already making waves online. The news of the venture quickly spread on Twitter yesterday, and they now have over 5000 followers. It seems many are eager to help Blockbuster become successful again.
In the statement, they declared, “It’s time to liberate the brand from purgatory and give it a new lease on life. A brand of the people should be owned by the people and governed by the people.”
Blockbuster DAO has long term plans
Meanwhile, In a Twitter thread, the Blockbuster DAO outlined how they will buy the company and plan to move forward. The first step is to raise $5 million through a Blockbuster DAO NFT mint, selling the collection at .13 ETH each. With the funds, they will begin a PR campaign to raise awareness and then put pressure on Dish to sell.
Finally, if they successfully buy Blockbuster using a DAO, the team is already planning their next move. The Twitter account speculated on several possibilities. These include purchasing films, developing screenplays, and releasing a Blockbuster streaming platform.
At one point in time, Blockbuster was the most prominent film and video rental service globally, with over 9000 stores worldwide. However, Blockbuster didn’t keep up with the times and renting physical DVDs and videos became unnecessary.
Now, there is only one Blockbuster store left in the world. The Blockbuster DAO aims to change that and give the company a second chance.
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