A DAO proposes to take over the rights of Blockbuster and turn it into a decentralized streaming service – DiarioBitcoin

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A DAO proposes to take over the rights of Blockbuster and turn it into a decentralized streaming service - DiarioBitcoin For Angel Di Matteo @shadowargel

BlockbusterDAO, the autonomous decentralized organization interested in Blockbuster, wants to raise about $ 5 million to take over the brand and relaunch it as a streaming service based on Blockchain.

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While the DAO They are becoming very popular and among their proposals they propose changing the operating models of many things, each time it is becoming a much more popular concept that seeks to expand its reach among things already associated with popular culture.

This is the case of a new decentralized autonomous organization called BlockbusterDAO, which, as its name seems to indicate, is a proposal that seeks to take over the rights of the deceased business to rent movies and reformulate it in light of new times and needs.

A DAO interested in Blockbuster?

Asó was announced by the team responsible for BlockbusterDAO in a set of messages published through his Twitter account, one of which reads the following:

“Our mission is to unleash Blockbuster and form a collective brand governance DAO as we make Blockbuster the first streaming film platform and mainstay of Web3 brands and products, but a future powerhouse of the motion picture industry…”.

Between plans BlockbusterDAO is raising about USD $ 5 million to buy the brand Blockbuster to its current owner, Dish Network, which acquired it in 2011. For this, the project plans to finance itself through the sale of digital collectibles. (NFT), which would be trading at a base price of 0.13 ETH per unit.

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The growing popularity of DAO

Despite being a much older concept than some believe, the DAO They have gained a lot of popularity in recent times and interesting proposals have emerged that seek to take advantage of this concept to give a twist to certain institutionalized things.

One of the most notable cases in recent weeks was that of ConstitutionDAO, a decentralized autonomous organization that managed to raise some USD $ 47 million to participate in the auction of an old copy of the US constitution, which unfortunately did not manage to get hold of the document but proved that these types of proposals can have a lot of traction.

On the other hand there was also the organizing group of FreeRossDAO, organization created to promote a prison reform that aimed to achieve the release of the founder of Silk Road, Ross Ulbricht, who is currently serving a sentence for crimes associated with the operations of said platform.

Regarding this DAO what is behind Blockbuster, It remains to be seen whether he succeeds in taking over the brand to carry out his goal. However, the possibility that many others could proliferate and take advantage of the rise of digital currencies and / or NFT to finance itself.


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Fountain: TheBlockCrypto, Twitter

Version by Angel Di Matteo / Daily bitcoin

Picture of Unsplash

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