A new decentralized autonomous organization (DAO) dubbed BlockbusterDAO has been formed to raise USD 5m and acquire the defunct movie rental business Blockbuster.

“Our mission is to liberate Blockbuster and form a DAO to collectively govern the brand as we turn Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products, but a powerhouse in the future of the film industry,” the project said.