Blockbuster DAO’s claims!
According to rumors it is heard that, Decentralized Autonomous Organization, is planning to acquire the existing rights of Blockbuster from Dish Network to form Decentralized Film streaming studio.
Since the DAO’s interest in acquiring Blockbuster is going rounds around the market, the integration was named as BlockbusterDao by netizens. Let’s look at a tweet below:
Okay but HOW do we buy Blockbuster?
1.Raise $5M+ through the Blockbuster DAO NFT mint at a 0.13Ξ each.
2. Begin awareness and PR campaign to build pressure to sell
3. Buy Blockbuster from Dish Network
4. Register all intellectual property in the name of the DAO
— R3WIND (@R3WINDxyz) December 26, 2021
The tweet clearly mentions the blueprint that will be followed by DAO to buy Blockbuster. The DAO is keen in buying out Blockbuster from Dish at any cost and is making progressive steps in the proposed direction. But, according to rumors, Dish Network, which is the current owner of the IP rights of Blockbuster is consistently refusing to sell to BlockbusterDAO.
The concept of DeFilm
Basically, the concept of Defilm originates from the ideology of making a movie on a blockchain technology. Since Blockbuster seems to be the perfect name for the starters and considering the prior experience of Blockbuster in filming industry the DAO feels that it is the accurate plan of action to create BlockbusterDAO for the growth of the Defilms.
Blockbuster’s tweet of waking from the grave.
Around 19hours ago, Blockbusters official twitter handle went on to tweet with a gif showing the visuals of rising from the grave. The tweet also read, “We’re back from the grave…”
We’re back from the grave… pic.twitter.com/CT3yHr9EKA
— Blockbuster (@blockbuster) July 22, 2022
In true sense, if Dish goes on to sell the IP rights to DAO and BlockBusterDAO is formed, then it officially will be the resurrection of the company.
Formerly known as Blockbuster video, the company was majorly an American-based provider of home movie and video game rental services. The company also started its global operations in early 1990’s with a vision to spread its wings all around the world. The peak of the company was seen at 2004 with around over 9000 stores across the globe. The company had also given employment opportunities to around 80k people.
The great recession which hit US between 2007 to 2009 and the inefficiency in leadership, proved to be the major reasons for the downfall of the company. The company went on to file for bankruptcy in 2010. With a competition from Netflix, the situation just got worse for Blockbuster. In 2011, some of the stores of Blockbuster were brought by Dish Network, and in 2014 the company went on to become insolvent.
But, as shown in the tweet above, the company has made cryptic tweets about it being back in the business. There is no official confirmation about the company’s operations yet.