A Group of Investors to Purchase and Reboot Movie Rental Company, Blockbuster

A group of investors wants to relaunch the movie rental company, Blockbuster. The investors are planning to reboot the movie rental company as a decentralised streaming service. 

The DAO (decentralised autonomous organisation) investors are planning to raise $5 million for the purchase of the company. BlockbusterDAO has announced with a tweet that the brand will be owned and governed by the people along with the name of the company, Blockbuster, which will lend itself to become a Web3 product.

The group of investors is proposing to raise $5 million or more by the sales of BlockbusterDAO NFTs. The amount raised from these sales would be used to acquire Blockbuster from Dish Network. 

If DAO successfully buys Blockbuster, they plan to develop an NFT presence for further fundraising. The fundraising would further support activities like buying movie tickets from the film circuit.