NFT

Rebirth in sight? Autonomous organization plans to acquire Paramount's property rights to create decentralized film industry "DeFilm"

share
Rebirth in sight? Autonomous organization plans to acquire Paramount

Having seen attempts such as ConstitutionDAO trying to buy a copy of the U.S. Constitution, FreeRossDAO petitioning for the pardon of Silk Road founder, and the rising popularity of OpenDAO, the latest decentralized autonomous organization has set its sights on the former video rental giant "Blockbuster" and plans to crowdfund to acquire rights from satellite television provider Dish Network.

BlockbusterDAO

The organization known as BlockbusterDAO, according to a statement on December 25 by BlockbusterDAO on Twitter, is planning to finance the "liberation" of Blockbuster, managing it in the form of a DAO, and transforming Blockbuster into a decentralized media streaming platform called "DeFilm," aiming to become a mainstream product in the future Web3.

Token Subscription Model

In 2011, Dish Network acquired Blockbuster, and BlockbusterDAO has the following plans to obtain ownership:

  1. Issue NFTs, minting price at 0.13 ETH to raise over $5 million
  2. Initiate marketing and PR campaigns to reach fundraising goals
  3. Acquire Blockbuster from Dish Network
  4. Register all intellectual property in the form of a DAO

In addition to using NFT proceeds as development funds, BlockbusterDAO also plans to launch a staking reward mechanism and introduce the streaming media platform DeFilm Streaming.

The previous business model of Blockbuster will be the platform's first business, and BlockbusterDAO plans to establish a film and television subscription model through tokens, making the tokens ERC-20 tokens with trading value.

As of now, BlockbusterDAO only has a Twitter account and a Discord channel, both of which do not provide specific details on NFT issuance, such as whitelist, minting date, total number of NFTs, and token mechanisms.

BlockbusterDAO points out that Blockbuster is not only a milestone in movie history, but also holds a nostalgic sentiment among the public. Whenever a physical Blockbuster store closes, the public's attitude towards the brand becomes more positive and optimistic.

Unfortunately, Blockbuster was destroyed by company executives who could not keep up with the times and adjust business decisions. BlockbusterDAO believes it is time to establish the massive DeFilm project to fundamentally change the future decision-making and financing methods of the film and television industry.

BlockbusterDAO has set high standards for measuring the success of this project, including winning Oscars and Golden Globes with original films, achieving annual recurring revenue ARR of $1 billion, and having a total value locked TVL exceeding all other DAOs, among others.

NFT