Blockbuster Is Hoping to Come Back as a Streaming Service in New Plan

We here at GeekTyrant used to spend a lot of time at Blockbuster video. It was the place to be on the weekends, picking up the brand new releases, or a classic favorite to watch with friends or family. Now, movie rental places are a thing of the past, and we have streaming services to serve the same purpose. But what if those two worlds merged?

Blockbuster DAO is a new social media handle that is trying to generate $5 million to buy the intellectual property rights to the Blockbuster Video brand from Dish Network, its current owner. The plan, according to FX Empire, who first reported the plans (via ComicBook), is to rebuild Blockbuster as a streaming service that they hope will revolutionize the film industry. A DAO, or Decentralized Autonomous Organization, would run on the Blockchain and automate most decisions, ostensibly putting more power into the hands of viewers to determine the future of licenses and original programming on the streaming service and eliminating human error.

Could this lead to a streamer that actually has the old movies we want to watch, like when we would visit the video store?

Maybe, but the report goes on to point out that Dish would likely see $5 million as too low an offer. The company bought Blockbuster for $320 million in 2011 and closed its remaining stores and DVD-by-mail service in 2014. The collapse of the video rental industry was already well underway, so it's likely that the original purchase price was the value of the Blockbuster name and brand.

Blockbuster DAO hopes to finance their attempt via the sale of BlockbusterDAO NFT mints priced at 0.13E each. So if you want to own a piece of what they are hoping is the future of the film industry, you can check out the BlockbusterDAO Twitter account for details and updates.