Web3.0 Era: Why Blockbuster DAO could Reshape the film industry?

老雅痞

2022-01-18 10:00

Read this article in 14 Minutes

Blockbuster DAO, a decentralized Defilm initiated by the people and co-managed by the community, was the first shot of Web 3.0 into Web 2.0

原文标题：《 Web3.0 开始攻城掠地：Blockbuster DAO 将重塑影视行业》

This article is from wechat official account:Old yuppie

In the 1990s, Blockbuster was a giant of American video and game rentals. Streaming services experienced a sharp decline in the late 2000s as they began to shape the way we watched movies. The brand was once one of the pre-eminent rental services, employing more than 80,000 people in more than 9,000 stores worldwide. Blockbuster couldn't keep up with The Times and was acquired by Dish Network. But as word spread that the juggernaut might be making a comeback in the form of a new streaming service, the Internet was abuzz again.

Blockbuster is not only nostalgic, it is a historic milestone in the history of cinema. Despite its first-class brand recognition, the company was hobbled by poor leadership that was incapable of adjusting to positive business decisions,

Blockbuster DAO Already established, DAOs -- decentralized autonomous organizations -- will operate on the blockchain and make most decisions transparent and automated. The goal is to buy the Blockbuster brand from Dish Network and turn it into a movie studio and streaming platform.

Blockbuster DAO's group is trying to raise $5 million to acquire the intellectual property rights to the brand, which DAO raised through an NFT casting campaign worth 0.13 ETH per NFT. They will put more power in the hands of community members and viewers to determine the future of licensing and original programming on streaming services.

Why buy Blockbuster?

The founding team found through Brandwatch that there was a strong correlation between Blockbuster and streaming services, with about 2 million mentions of Blockbuster and one of the top streaming services...... Interestingly, though, sentiment scores have increased since 2013, the year Blockbuster closed its last corporate store owned by Dish. Since then, the mood has gone from -20 to +14. In other words, once Blockbuster's stores were gone, people's feelings toward Blockbuster turned positive.

Blockbuster DAO decided to buy the brand from Dish Network and give it a new lease of life. A people's brand should be owned and managed by the people. Even the name Blockbuster is a good fit for a Web3 product. Blockbuster DAO will create a large-scale DeFilm program that will revolutionize creative decision-making and financing in the film and TELEVISION industry.

Blockbuster DAO will reshape the movie industry in a Web 3.0 world

1. Pledge reward of Blockbuster DAO.

Blockbuster IP is owned by Blockbuster DAO, and the founding team will design incentives for the DAO. The team will create a community vault called Blockbuster Reward Tokens (BRT), which will be circulated through the Blockbuster ecosystem and used to Reward community members for participation and activity, in addition to NFT holders receiving pledge rewards.

2. Empower Blockbuster NFT and use the proceeds to fund growth.

Blockbuster DAO expands commercial content platform. Drive revenue through NFT collections, brand trading, merchandise and other uses of IP. This revenue is fed back to the DAO members.

3. Run the festival circuit and start buying movie rights

As a DAO supported by a single IP, the DAO needs to ensure that IP purchase is a priority. They go on the film festival circuit later, then send representatives to look at projects and decide what to buy (and for how much). Once the community has successfully purchased a movie, it can partner with a distribution company to show it in theaters, post the content to Blockbuster DAO's proprietary site, perform exclusive screenings for the DAO, or rent the content to other streaming platforms.

4. Launched blockbuster streaming media platform

Blockbuster DAO should be the first market for DeFilm streaming. We can create a "movie pass" subscription model for our platform and give these passes erC-20 tokens with resale value. There are many directions for this in terms of consumer rights, including movie derivatives, public/private sales of re-listed intellectual property, or some kind of incentive program for collecting consumer data.

5. Blockbuster DAO content publishing platform.

Blockbuster will develop a content publishing platform where community members can start investing in original content. This is long-term planning because the time and money it takes is a big investment. The DAO needs to identify which projects to invest in and how much budget can be allocated to them. The DAO can also raise money for the project budget by selling movie IP, which can be a percentage of gross revenue or royalties.

6. Equity returns attract creative talent.

Blockbuster offers equal equity opportunities to artists, actors and crew who produce original works.

Interactive collective content and blockchain games.

Blockbuster is also a big player in the video game industry for millennials. The brand can become a powerful platform for blockchain games, as well as innovative development of existing game models.

As experienced community members continued to join and share their ideas, Yuppie heard a larger community vision: bringing about a paradigm shift in media through decentralization, where the community retained all the value it created.

Yuppie found that the idea of BlockbusterDAO was developed in this direction many years ago by a team in China. For example, Yulebao.

Yulebao is a value-added service platform created by Alibaba digital Entertainment business group and financial institutions. Users who purchase insurance financial products on this platform have the opportunity to enjoy entertainment rights and interests. Netizens can invest 100 yuan in popular films and TV series, with an expected annual return of 7 percent, and have the opportunity to enjoy entertainment rights such as crew visits and star meetings.

"It will subvert the existing film and television investment model, break the 'elite threshold', and let netizens participate in the creation of China's cultural industry." That's how Alibaba described the value of Yulebao in an official press release.

Yulebao core advantages:

1. Give investors a variety of entertainment rights and interests and sense of participation

For example, host film and TV series creators meeting, film screening meeting, exclusive authorized e-magazine, star signature photos, film and TV props auction, filming site travel, etc. It can be said that Yulebao provides investors/fans with a whole process of participation, from investing in films and TV series, to paying attention to creative trends and interacting with stars, to buying tickets and watching movies when they are released, and finally obtaining annual income, providing a brand new entertainment lifestyle

2. Collect the voice of real users for big data creation

Users "vote with their money" to judge their preference for a project's director, actor or script. This first-hand user data affects content from the investment stage to production.

Actually theoretically movie project can get interested in the film investors/customer to invest, but entertainment treasure with "100 investment popular movie" gimmick to screen out the target group, lock the user's interests, to collect the user's real voice, user besides on investment income will be long-term and related/star movie plays remain closely linked.

Careful users have found that some of yulebao's fans' rights and interests are similar to those of NFT popular projects. In addition, users "vote with money" for movies they are interested in can actually be regarded as the prototype of DAO community token voting, which gives users the right to vote. And express their opinions on the various plans of the project.

Yuppie suddenly thought, if yulebao and NFT will be connected to what?

First, NFT puts ownership first because it is completely owned by the user. NFT enables fans to connect experiences with value. Creators or companies can use NFT to create unique ways to interact with fans, and it can trigger a real paradigm shift in customer loyalty, where they will have a common interest rather than opposing it. In other words: if the company does well, the value of NFT will go up, and then the user will make a decent profit by selling or leasing, and the investor/fan/user becomes a shareholder, but an emotional shareholder.

In my opinion, the biggest difference between Web 2.0 enterprises and Web 3.0 is whether the control of core resources is in the hands of community members, and whether it can be effectively supervised and governed.

As the wheels of history roll forward, a shift in the system of trust, corruption, and anti-censorship based on blockchain is not only inevitable, but also inevitable. The changes brought to The Web 2.0 Internet giants will be disastrous. Blockbuster DAO, which was initiated by the people, Decentralized Defilm, co-managed by the community, is the first shot of Web 3.0 into Web 2.0.