Possibly Blockbuster wants to start over, but now in the NFT market .
Blockbuster ‘s Twitter account has reposted after years of inactivity.
“We came back from the grave,” the company said alongside a GIF of a zombie emerging from the grave.
We’re back from the grave… pic.twitter.com/CT3yHr9EKA
— Blockbuster (@blockbuster) July 22, 2022
Blockbuster returns?
Blockbuster could be back, but no longer renting movies, but rather under the business model of non-fungible tokens or NFTs .
According to a December 2021 report, a cryptocurrency group DAO (decentralized autonomous group) tried to buy Blockbuster ‘s intellectual property rights .
Although it was not possible at that time, the project is still standing and he hopes that Dish Network, the current owner of the company’s intellectual property rights, can change his mind.
giant’s fall
Formerly known as Blockbuster Video, the company was primarily an American provider of home video and movie rental services. The company also started its global operations in the early 1990s with a vision to spread its wings around the world. The peak of the company was seen in 2004 with around 9,000 stores worldwide. The company had also given employment opportunities to some 80,000 people.
The great recession that hit the US between 2007 and 2009 and ineffective leadership proved to be the main reasons for the company’s downfall. The company filed for bankruptcy in 2010. With competition from Netflix, the situation worsened for Blockbuster .