Starting with a first hit on social media, an entity calling itself Blockbuster DAO is trying to generate $ 5 million to acquire the intellectual property rights to the Blockbuster Video brand from Dish Network, its current owner. The plan 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 in the hands of viewers to determine the future of licensing and original programming on the streaming service and eliminate errors. human. But fans of nostalgia, don’t get too upset. It is far from being a certainty.
Blockbuster DAO wants to raise $ 5 million to acquire IP Blockbuster from Dish Network, but FX Empire, which first reported the plans, said the DAO was planning to “use a public relations campaign to lobby Dish Network to Sell Blockbuster “. In other words, Dish has not expressed an interest in selling the intellectual property, and Blockbuster DAO is hoping that by making an offer, they can get consumers to put pressure on Dish to sell. It is not an impossible task, but it is not a foolproof plan.
The problem? Well, Dish would probably see $ 5 million as too low an offer. The company bought Blockbuster for $ 320 million in 2011 and closed its remaining stores and DVD mail service in 2014. But by 2011 the collapse of the video rental industry was already well underway, it So probably a sizeable part of that purchase price was the value of the Blockbuster name and brand.
Until fairly recently, there were a handful of Blockbuster franchise stores, still paying Dish for the license fees of the Blockbuster name for video rentals. Now there’s only one, in Bend, Oregon, but that one (and its story, told in the documentary The Last Blockbuster) seems to have created a spike of nostalgia directed at the ancient monolith. business.
In recent years, Dish has licensed the Blockbuster name and logo for t-shirts (you can get them at Target), puzzles (available at many retailers, including Target and Dollar General), and board games (available in stores and online). Most recently, Netflix announced that they are developing a sitcom in a fictional version of the latest Blockbuster, starring WandaVision’s Randall Park.
Regardless of these hurdles, Blockbuster DAO hopes to fund their attempt through the sale of BlockbusterDAO NFT mints at a price of 0.13E each. So if you want to own some of what they hope will be the future of the film industry, you can check out the BlockbusterDAO Twitter Account for details and updates. Nothing is available yet, so if you see someone offering to sell a DTV, it’s not them.
ComicBook has contacted Dish Network for comment. If they provide a response, this article will be updated to reflect that information.