Blockbuster Preparing to Enter Crypto and NFTs

In the 1990s, Blockbuster, more formerly known as Blockbuster LLC, was a global brand-name. The brand had more than 9,000 stores worldwide and peaked in 2004 before online video streaming services hit the home entertainment market.

The Great Recession of 2008 and video-on-demand streaming services brought the Blockbuster journey to an end. In 2010, the Blockbuster filed for bankruptcy protection and was subsequently purchased by Dish Network. Just 1,700 stores remained at the time of the acquisition. At the time of writing, however, just one franchised store remains, located in Bend, Oregon, U.S.A.

Blockbuster Plans a Digital Revival

This week, news hit the wires of Blockbuster filing a trademark application with the U.S Patent and Trademark Office. According to the trademark filing, Blockbuster plans to issue a digital token in addition to an NFT market place and Metaverse environment.

A move into NFT space and Metaverse could be a headache for companies such as Netflix Inc (NFLX).

Trademark attorney and founder of Gerben Law Firm Josh Gerben tweeted the news, with the headline “Dont call it a comeback…”

BlockbusterDAO and a Film Industry Revolution

Late last year, we had reported of BlockbusterDAO looking to raise funds to acquire Blockbuster from Dish Network for a sum of $5m. Blockbuster DAOs goal is to revolutionize the film industry by creating “the first ever DeFilm (decentralized) streaming platform and a main stay of both Web3 brands and products”.

BlockbusterDAOs vision is likely to be the future of film. Networks would have a say on the final version of scripts and voters could influence casting, film locations, and more. Making all the decisions on blockchain not only brings inclusion, but also transparency and quite possibly a film industry revolution. Such a proposition would test the resolve of studios such as Miramax, Metro-Goldwyn-Mayer, and Warner Brothers.

While there has been plenty of chatter on the BlockbusterDAO Twitter account, there have been no news updates on the acquisition. Just a single tweet last week that a line of communication between Dish Network and BlockbusterDAO has opened.