There is the latest Decentralized Autonomous Organization (DAO) created with the goal to buy top gaming brands using Dish Network. Blockbuster Video is the leading video rental company based in America and was established in 1985 and has 6000 global stores. It is currently valued at $8 billion and is owned by Dish Network.
DAO was quite keen on purchasing Blockbuster from the Dish Network and naming it as BlockbusterDAO.
On 26th December, the DAO tweeted that it intends to mobilize a campaign to purchase Blockbuster by getting a minimum of 5 million dollars with the help of a Blockbuster DAO NFT minting event where each NFT would be valued at 0.13 ETH.
BlockbusterDAO is quite keen on turning up Blockbuster Video into a studio for streaming decentralized movies, also called DeFilm. DeFilm is an experiment that was started this July that aims to create a movie in which decisions are made on the Blockchain. “Block” buster, in this case, is a very apt name for the project.
BlockbusterDAO is aiming to capitalize on social media to reshape meme stock businesses, including Gamestop and AMC, as per ConstitutionDAO (PEOPLE), established over a month ago. ConstitutionDAO tried to purchase the original US Constitution copy during an auction at the Dorothy Tapper Goldman Foundation.
Constitution DAO was unable to make the purchase since Kenneth Griffin, a hedge fund manager, offered over $43.2 million to buy a complete copy at a Sotheby’s auction that took place on 19th November. After the auction, DAO initiated full refunds to all users who made donations. PEOPLE tokens were kept by holders who did not want refunds.
What is DAO?
DAO- also called Decentralized Autonomous Organization, carries no central leadership but is governed by the community vote backed by the token holders. Investors of DAO will gain voting rights and make decisions. DAOs like MolochDAO and Gitcoin earlier raised investments to develop the ETH ecosystem.