A store.
Popmotion pictures.
A group of investors want to purchase and remake the movie-rental company as a streaming service.
The investors want to raise at least $5 million to purchase the company. Last month, another DAO tried to purchase an original copy of the US Constitution.
It's time to give the brand a new lease on life and liberate it from purgatory. A brand of people should be owned by the people. The name of the company, Blockbuster, would make it a Web3 product.
Web3 is a reference to the next phase of the internet that envisions the web as largely run by users, rather than being run by corporations. The metaverse is a virtual world.
Rules are enforced through the use of a technology called a daemon. They've been around for a long time, but in the year 2021, there was a surge of funding through DAOs.
It's time to build a massive DeFilm project that will change the way the film and television industries are financed. "I believe that BlockbusterDAO will be like lighting in a bottle for the future of governance in the DAO," the author wrote. It has more than 2200 members according to its Discord page.
The group is proposing to raise $5 million or more by selling NFTs for 0.13 ether. The money would be used to purchase a brand. A portion of funds raised will be used to run a PR campaign to put pressure on Dish Network to sell the brand.
The price tag is going to be higher than any counter-offers, and it seems that another interested party has lowballed an offer for the brand.
If a purchase is successful, the DAO's plan is to develop an NFT presence for further raising money to support activities such as buying movies from the film circuit. A movie pass subscription model and investing in the development of original content is what it envisions.
A group of people calling themselves the ConstitutionDAO banded together in November to bid for one of the 13 remaining copies of the US Constitution that were put up for auction. The group lost the bid. The founder of Citadel Securities was the winner.
The store in Bend, Oregon, has more than 21,000 movies in stock and is known for its "Be Kind, Rewind" slogan.
Business Insider has an original article.
