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Blockbuster to Enter Crypto and NFT Space

The once famous video rental chain is now owned by Dish Network, has announced plans to enter the NFT and Crypto scene.

blockbuster
Photo by Buddy Mays / Alamy Stock Photo

Blockbuster, which was once a unanimously famous chain of video and movie rental stores, has officially filed for a trademark application with the US Patent and Trademark Office, highlighting its cryptocurrency ambitions.

Per the filing, the company has plans to issue a token that will allow users to “receive, accept, view, buy, sell, and trade” NFTs.

Besides that, Blockbuster apparently has plans pertaining to the offering of entertainment based on what is described as “metaversal experiences”.

Back in the day, Blockbuster was a major chain, comprising over 9,000 physical stores, and became a giant in the VHS rental market back in the 90s. Then, in 2000, they raked in $800 million from late fees alone, thanks to valuation hitting billions of dollars. In the same year, Reed Hastings, the CEO of Netflix, made Blockbuster a partnership offer with the objective to expand their presence.

This didn’t bode well, as he was apparently “laughed out of the room.” Of course, the rest, as they say, is history. In 2010, Blockbuster went bankrupt, but Netflix saw success in streaming, becoming a titan in the industry worth $166 billion.

As of right now, Blockbuster is owned by Dish Network, a TV Company that recently announced a partnership with Cardano Input Output.

There is but one last remaining Blockbuster store in Bend, Oregon, which is now famous for tourist attraction in recent years, gaining massive international fame and recognition in the process.

Suffice it to say, the NFT craze is in full swing at the moment, with massive companies like Walmart and even YouTube making a move on them.

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