The successful video and its great disappearance
In the 1990s, Blockbuster LLC, better known as Blockbuster Video or simply Blockbuster, was a global brand. Apparently, Blockbuster had 9,094 stores and employed over 84,000 in the United States and around the world. The peak came in 2004 before online video streaming services hit the home entertainment market.
To compete, Blockbuster had offered DVD by mail, streaming, video on demand, and film in addition to its video stores.
The 2008 global financial crisis and other video-on-demand and streaming services add to Blockbuster’s demise.
In 2010, the franchise filed for bankruptcy and was subsequently purchased by Dish Network. There were only 1,700 stores left at the time of acquisition.
At the time of writing, however, the only remaining franchise store (!) May be located in Bend, Oregon, USA.
DAO seeks to dethrone Netflix
This week, Twitter announced plans to raise $ 5 million to breathe new life into Blockbuster.
A successful fundraiser of $ 5 million would allow BlockbusterDAO to purchase Blockbuster Video from its current Dish Network owners. The mission, if investors wish to accept it, is to transform it into “the very first DeFilm (decentralized) streaming platform and a mainstay of Web3 brands and products”. BlockbusterDAO also has the ambition to make the platform “the engine of the future of the film industry”.
BlockbusterDAO plans to raise $ 5 million or more via BlockbusterDAO NFT mints priced at E 0.13 each. The team also plans to raise awareness and use a public relations campaign to pressure Dish Network to sell Blockbuster and then register all intellectual property on behalf of DAO.
The audience decides the outcome of the movements and sets
The vision of BlockbusterDAO is amazing and alluring. Imagine the networks having a say in the final version of a script. Voters could also influence the cast and more. Making all the decisions on the blockchain also brings transparency and quite possibly a revolution in the film industry that would value the power of Metro-Golden-Meyer and other Hollywood elites.
While it is certainly too early to cancel Netflix, many had a similar view of Blockbuster before its demise. As we all learned during the global financial crisis, nothing is too big to fail. And so, it might be entirely possible that BlockbusterDAO not only brings Blockbuster Video back to life, but also revolutionizes the film industry. It’s a tantalizing prospect and Netflix executives can blame themselves for not having come up with the idea first …
To Wednesday 29e At the December close, the Netflix Inc (NFLX) share price was $ 609.59. For the current December, Netflix Inc. is down 5.45% against a gain of 1.47% for the NASDAQ. Since the start of the year, Netflix Inc. is up 12.7% against a gain of 22.3% for the NASDAQ.
This article originally appeared on FX Empire