Crypto group wants to revive Blockbuster as a streaming service – report
Back in the days before streaming, Blockbuster, which originally opened in 1985, became the premier provider of home movie and video game rental services around the world.
At its peak, there were more than 9,000 Blockbusters worldwide, with 83,000-plus employees, catering to people looking for the latest movie to rent for the weekend.
Unfortunately, competition from Netflix’s mail-order service, video-on-demand, and automated kiosks, led to the video rental franchise’s decline and the company eventually filed for bankruptcy in 2010.
However, rumors online point to the possibility of the former video rental chain making a comeback in the form of a new streaming service that would run on blockchain.
As reported by Movieweb, a Crypto group that calls itself Blockbuster DAO is trying to generate $5 million to acquire the intellectual property rights to the brand, which is currently being held by Dish Network.
Dish Network purchased Blockbuster for $320 million in 2011, and closed its remaining stores and DVD-by-mail service in 2014.
Blockbuster DAO, which stands for Decentralized Autonomous Organization, wants to raise $5 million to rebuild and rebrand Blockbuster into “the first-ever DeFilm (decentralized) streaming platform to become “the powerhouse in the future of the film industry.”
The group recently shared their plans via a Twitter thread, outlining their goals and how they plan to accomplish these.
Our mission is to liberate Blockbuster and form a DAO to collectively govern the brand as we turn Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products, but a powerhouse in the future of the film industry. Read the ??
— BlockbusterDAO (?,?) (@BlockbusterDAO) December 26, 2021
FX Empire, who first reported the proposal, says that the DAO plans to "use a PR campaign to build pressure on Dish Network to sell Blockbuster."
Okay but HOW do we buy Blockbuster?
— BlockbusterDAO (?,?) (@BlockbusterDAO) December 26, 2021
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
While it’s unlikely Dish Network would sell Blockbuster, there's no denying that in recent years, there’s been a wave of nostalgia for all things classic, including the Blockbuster brand.
Dish Network has reportedly licensed the Blockbuster name and logo for merchandise for t-shirts, puzzles and board games.
As of 2021, only one franchised Blockbuster store, located in Bend, Oregon, remains open in the world. The store was listed on Airbnb for a limited time in 2020 and became the subject of the 2020 documentary film The Last Blockbuster.
In November 2021, Netflix also announced that a new workplace comedy series set in the last Blockbuster starring Randall Park and written by Brooklyn Nine-Nine and SuperStore writer Vanessa Ramos is in development.