BlockbusterDAO: The Failed Attempt to Build Decentralized Netflix
BlockbusterDAO: The Failed Attempt to Build Decentralized Netflix
🎬 Blockbuster's crypto resurrection
In December 2021, crypto Twitter rallied around an ambitious plan: buy Blockbuster and transform it into the first decentralized streaming service.
The community aimed to raise $5M through the $BLKBSTER token to acquire Blockbuster's trademark from Dish Network. Their vision went beyond brand revival - they wanted to create a decentralized Netflix where:
- A DAO would decide which films to fund
- Revenue splitting would be community-driven
- Content curation would be democratized
The Social Network author Ben Mezrich endorsed the project, calling it "the perfect Web3 story." This celebrity backing sparked massive interest, with over 40,000 people joining the Discord within weeks.
However, Dish Network refused to even discuss selling the Blockbuster brand, effectively killing the project before it could begin.
While BlockbusterDAO never materialized, it became a notable example of how DAOs can mobilize communities around ambitious ideas - joining other failed attempts like buying the U.S. Constitution.
The project highlighted both the potential and limitations of decentralized organizing in traditional industries.
Netflix on smart contracts or an attempt to resurrect a dead brand 🎬 In December 2021, a plan went viral on crypto Twitter: “Let’s buy Blockbuster and turn it into the first decentralized streaming service” Blockbuster was once a giant of video rentals with thousands of stores
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Holiday Updates Coming Soon
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