DAO Has Dreams Of Raising $5 Million

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DeFi
DeFi

DAO, a relatively new decentralized autonomous organization, has been formed with the main goal of purchasing the Blockbuster brand from the Dish network. This would then be turned into a streaming platform as well as a film studio.

Blockbuster Video is a video rental company that operates in the United States- which was founded in 1985 and once had around 6,000 stores globally with a total valuation of around $8 billion before it ended up closing most of its operations in 2014. It is currently owned by Dish Network and operates just out of a single store in Oregon. 

DAO Has Elaborate Plans Of Purchasing Blockbuster Video

The organization which has its sights set on liberating this Blockbuster from Dish Network has definitely been named BlockbusterDAO. It previously explained in a tweet on Sunday that it had plans of rallying its grassroots effort of purchasing Blockbuster by increasing it to around $5 million through an NFT minting event. Every single NFT would then be valued at around 0.13 Ether. 

BlockbusterDAO also has major plans of turning Blockbuster into another decentralized studio for streaming films. DeFilm is currently an experiment that was launched in July- and which proposes to actually shoot a movie with decision-making happening on a particular blockchain. Blockbuster- therefore- seems to be quite a fitting name for such a project. 

BlockbusterDAO has also brought up its plans of tapping into the social media craze of resurrecting meme stock brands like AMC and GameStop which would follow a path that was taken up by ConstitutionDAO just a month ago. ConstitutionDAO does aim at buying an original copy of the Constitution of the country from the Dorothy Tapper Goldman Foundation at an auction.