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On Wednesday, the core team behind BlockbusterDAO announced that after months of meetings, negotiations, pitch decks, and legal consultations, Dish Network allegedly decided that it didn’t want to hand over the Blockbuster IP rights, which it purchased out of bankruptcy for $320 million in 2011-to a DAO.Ī DAO is an online collective of people who come together with a shared goal or purpose, often with a token used for community governance. The creators tapped into collective nostalgia, and aimed to transform the faded IP into a new Web3 streaming video platform.īut all of that initial hype and momentum ultimately hit a major roadblock.

SpiceDAO bought the “script bible” for a canned film adaptation of sci-fi novel, “Dune,” with plans to make it public and create projects around it.īlockbusterDAO is another project that launched around the same time to ample media buzz, as the collective aimed to raise $5 million through NFT sales to acquire the near-defunct Blockbuster Video brand from current owner Dish Network. LinksDAO plans to buy a golf course for its members. Krause House DAO wants to buy an NBA team. Quickly, moonshot DAOs sprung up, proclaiming that they were going to buy other things, too. Constitution at auction, but the effort yielded considerable mainstream attention and showed the world the potential power of DAOs, or decentralized autonomous organizations.Īnd then it became a meme.

The team will continue building a Web3 streaming video and commerce platform under the new name, R3WIND.ĬonstitutionDAO fell short of its goal to raise enough money to purchase a copy of the U.S.

BlockbusterDAO sought to buy the legacy video store IP, but said this week that owner Dish Network refused to sell it to a DAO.

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