The latest Blockbuster is in Bend, Oregon, and has turned into a place dedicated to film lovers. From August 2020 it is possible to book one night for a few dollars with the entire catalog of 21 thousand titles available, strictly on DVD or Vhs cassettes. As you know, Blockbuster’s business hasn’t kept pace with technology: first pay TV and then it streaming Netflix dealt the fatal blow to the old blue and yellow chain. Which now could be resurrected thanks to technology.
A decentralized autonomous organization, one of those investor communities known as Dao, held together via a blockchain, aims to raise five million dollars to buy the “historic” and “nostalgic” brand and relaunch it as a streaming service on the Web3, the future internet of the metaverse that aims to be organized in a decentralized way.
A Dao to be reborn
«It’s time to get the brand out of purgatory and give it new life. A brand that belongs to the people must be in the hands of the people and governed by the people. Even the name, Blockbuster, is ready to become a Web3 product, ”says BlockbusterDAO in a Christmas Day tweet. Le Dao (decentralized autonomous organisation) are organized communities regulated by smart contract, contracts that self-execute upon the occurrence of certain conditions, managed through blockchain technology.
It has been talked about for years, but the year that is closing has marked a boom of initiatives in the wake of the evolution of the cryptocurrency world. Last month a Dao participated in the auction for an original copy of the US Constitution, raising $ 46 million from more than 17,000 people, but insufficient to win the auction.
“It’s time to move forward with a DeFilm project that can forever revolutionize the creative-decision-making process and funding of the film and television industry,” says BlockbusterDAO, which boasts more than 2,100 members on Discord.
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