The daughter of Blockbuster's former CEO has joined the DAO working to buy the movie-rental company

markets.businessinsider.com:

Photo by Scott Olson/Getty Images

Investors seeking to resurrect Blockbuster through a crypto project have a new ally on board: the daughter of a former Blockbuster CEO who helped build the video-rental company, according to a report by The Block Crypto.

Michelle Berrard has joined the core team at BlockbusterDAO, a decentralized autonomous organization aiming to purchase the company and relaunch it as a blockchain-based streaming service, the Thursday report said. Berrard's late father, Steven Berrard, helped build and run Blockbuster between 1987 and 1996. 

«The BlockbusterDAO project is so exciting because movies, independent films, (and Blockbuster) live in the hearts of everyone. It's personal, heartfelt, nostalgic, and a legacy for me!,» she wrote on the project's Discord channel, the report said. 

BlockbusterDAO is aiming to raise at least $5 million to purchase the brand from Dish Network, with a plan to raise the money through selling BlockbusterDAO non-fungible tokens, or NFTs. The money would be used to turn Blockbuster into a decentralized streaming service that could potentially compete with Netflix. 

Berrard currently runs own her fitness brand called Pivotal Fitness, overseeing four fitness studios, the report said. Her previous work includes five years at Walt Disney. 

BlockbusterDAO had said it wants to sell its NFTs for 0.13 ether, or about $440 each as of Thursday.