A group of enthusiasts wants to revive Blockbuster, an international video rental franchise popular in the 90s, as a streaming platform, like Netflix.
The so-called BlockbusterDAO aims to raise $5 million through a sale of non-fungible tokens (NFTs) to buy out the rights to the business franchise from Dish Network, a satellite television provider.
The DAO supposes that the deal will cost it over $1.8 million. Thus, BlockbusterDAO plans to raise the funds through the Blockbuster DAO NFT collection, where each token will be priced at 0.13 ETH (~$500).
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Earlier this year, another DAO called ConstitutionDAO also planned to purchase an original copy of the United States Constitution. The group raised $47 million in ETH but lost to a bid of $43.2 million in the Sotheby's auction to Citadel CEO, Kenneth Griffin.