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 worldwide. But the digital era and Netflix killed the brand, leaving the rights in the hands of Dish Network 😦

The community set out to raise $5M through the $BLKBSTER token to acquire the trademark. The goal wasn’t just to revive a brand, but to build a “decentralized Netflix” — a DAO that decides which films to fund, how to split revenue, and what content gets on the platform 🤑

Writer Ben Mezrich (author of The Social Network, the book behind the Facebook movie) joined the hype, calling BlockbusterDAO “the perfect Web3 story”. That sent interest soaring: within weeks, more than 40,000 people had joined the Discord 🌐

Dish Network, however, refused to even discuss selling the brand. BlockbusterDAO never materialized, but it went down in history as another example of DAOs rallying people around wild ideas — from buying the U.S. Constitution to reviving Blockbuster! 🏵