BlockBusterDAO (renamed R3WIND) stated in its blog post on June 29 that it faced resistance from shareholders in its BlockBuster acquisition, and that the company took a stance against decentralization. BlockBusterDAO stated that BlockBuster executives refused to sell the company.
BlockBusterDAO The startup group announced in December 2021 that it wanted to acquire BlockBuster and turn it into a DAO (decentralized autonomous organization). It is stated that their purpose is a former movie rental company. BlockBusterBlockBusterDAO stated that they want to take .
29 June In the blog post they shared on R3WIND, the owner of BlockBuster Dish Network‘s company refuse to sell stated. R3WIND talked about the reasons for rejection as follows:
Dish believed that BlockBuster was far more valuable than a group like ours could handle. However, BlockBuster has lost quite a bit of value since its bankruptcy.
In the R3WIND post, Dish Network’s BlockBuster was launched in 2011. 320 million dollarsShe stated that she received a money because they saw her as more valuable than she was.
According to the statements, Dish executives during the acquisition negotiations, the company’s decentralization they do not welcome told. Also, the company to sell all They openly denied it. License the company to R3WIND Dish a joint LLC (Limited Liability Company). R3WIND is the new company 65%As an aspirant to . ended negotiations by refusing to sell.
What will happen now?
In the last part of the REWIND post, it’s available to its users. introduced their new project: R3WIND.
R3WIND, who demand control over their arts and works to the next generation of curators an appealing video platform. All kinds of curators on R3WIND you can share your videos, other Capable of capturing videos from platforms, digital or physical their collections can sell. Users will be able to work on the platform to grow their communities with the share&win system.
R3WIND independent filmmakers and content producers Although it claims that it will change the rules of the game for anyone who wants He said he could find a place.
The community is the first step towards decentralization where you can learn more about the platform and its users. to anyone who registers on the website a ‘Genesis NFT‘ they said they would.
In the blog post about the process:
As soon as Genesis NFT is in the hands of the community, we will start working with curators to build brand awareness and product development.
made his statement.