December 28, 2021 / Unchained Daily / Laura Shin
Daily Bits ✍️✍️✍️
Kraken CEO Jesse Powell revealed that the exchange’s NFT platform will enable NFT collateralized loans.
Decentraland and UNXD are partnering to host a metaverse fashion week.
A Miami nightclub purchased a Bored Ape Yacht Club NFT for $400,000.
Bitcoin and ether trading volume surpassed $32 trillion in 2021.
Billy Markus, the co-creator of Dogecoin, only holds220,000 DOGE (less than $50,000).
A Republican US Senate candidate is offering donors NFTs.
Binance has received an in-principle approval from the Central Bank of Bahrain to run a regulated crypto exchange in the country.
- Charles Hoskinson, the founder of Cardano, laid out plansfor 2022 in a talk from Youtube earlier this week.
What Do You Meme?
‘Liberating’ Blockbuster via a DAO?
Christmas. A time for family, a time for cheer, and, apparently, a time to reveal a prospectus for creating a DAO to purchase the Blockbuster brand from Dish Network.
“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,” wrote tasafila.eth, a self-described startup founder, screenwriter, and NFT collector, on the night of the 25th in a tweet thread that garnered over four thousand likes.
Tasafila.eth believes that Blockbuster, the defunct movie rental business, holds appeal as a nostalgia play. Specifically, tasafila.eth points to a recent Brandwatch report that shows people now think positively about the brand. Wrote the BlockbusterDAO idealogue, “The Blockbuster brand is not only nostalgic, but it’s a historic landmark in the history of film.”
To make a play on the Blockbuster brand, BlockbusterDAO must purchase it from Dish Network. According to tasafila.eth, the DAO will most likely have to raise $5 million. If the DAO continues moving forward using its current roadmap, BlockbusterDAO plans to raise funds via an NFT drop, which would sell DAO NFTs at .13 ETH each.
Once initially funded, BlockbusterDAO expects to expand its reach via a seven-step roadmap outlined by tasafila.eth on Discord.
- Allow Blockbuster DAO NFT staking to collect BlockBuster Rewards
- Develop a Blockbuster NFT presence and use proceeds to fund development
- Run the film festival circuit and start buying films
- Release a Blockbuster streaming platform (“DeFilm”)
- Option speculative screenplays for Blockbuster Originals
- Attract Creative Talent with Equity Earnings on Success
- Interactive Collective Content and Blockchain Gaming
BlockbusterDAO is the latest in a string of DAOs attempting to make somewhat memetic purchases. For example, in November, ConstitutionDAO raised $50 million in a failed attempt to purchase a physical copy of the Constitution at a Sotheby’s auction. To give a more successful iteration, in October, PleasrDAO was able to secure a one-of-one physical copy of a Wu-Tang Clan CD for $4 million. LinksDAO is also making a move similar to BlockbusterDAO, in that a group of golfing fans is attempting to band together to purchase a top-100 golf course.
BlockbusterDAO is reminiscent of the GameStop and AMC WallStreetBets movements last year that found value in the nostalgia associated with the brands. It remains to be seen whether this similarly takes off.
- 1confirmation’s Richard Chen on his 2021 and 2022: https://thecontrol.co/under-the-radar-product-trends-2021-recap-and-2022-predictions-403084a63ce8
- Balaji Srinivasan on angel investing in web3: https://balajis.com/mirrortable/
- Coinbase’s Elias Simos on 69 trends from 2021: https://twitter.com/eliasimos/status/1475396812915810305
On The Pod…
Mitchell F. Chan, who released one of the first NFT projects on Ethereum back in 2017, discusses his projects, making art on a blockchain, how NFTs are transforming the traditional art world, and more. Show topics:
Mitchell’s art career before NFTs
how Mitchell was inspired by Yves Klein’s 1950’s work ‘Zones of Immaterial Pictorial Sensibility’
the story behind Mitchell’s OG NFT art project: ‘Digital Zones of Immaterial Pictorial Sensibility’
what the traditional world thinks about NFTs
who is collecting NFT art
the story behind Mitchell’s 2021 NFT project: ‘LeWitt Generator Generator’
why Mitchell has not minted any more NFTs this year – even though the market has been on fire
whether Mitchell thinks NFTs are changing the art world (hint: he thinks yes)
NFTs and the financialization of art
why Mitchell can empathize with some of the backlash about NFTs coming from the traditional art and gaming industries
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.
The book, which is all about Ethereum and the 2017 ICO mania, comes out Feb. 22. Pre-order it today!
You can purchase it here: http://bit.ly/cryptopians