Inspired by projects like LinksDAO or ConstitutionDAO, MovieTheaterDAO is a Decentralized Autonomous Organization (DAO) with the primary goal of purchasing the lease of a multi-screen movie theater in a major urban center in the U.S. MovieTheaterDAO will leverage the organizational structure of a DAO along with NFT ownership to create a concept for an entertainment hub that better utilizes the modern theatrical retail space, and tailors it to what the community wants and needs. We will create a better theater, by the people, for the people.

What does this mean in real terms?

MovieTheaterDAO aims to redefine the utility of the modern movie theater by reimagining it as a multi-use space with a community-driven programming format that utilizes DAO governance rights, while allowing individuals and entities within our community to sub-lease theater space on a membership basis through NFT-passes. By combining a community-voted programming format that utilizes a traditional revenue model, with an NFT membership model, we will determine a new business model for movie theater spaces, and beyond. In addition to creating physical entertainment hubs, think of our DAO as a think tank for developing new real estate use-cases for movie theaters and similar entertainment facilities.

Imagine the programming schedule from your favorite independent cinema- but even better, because it’s determined by you, the fans!

Our community-driven programing format will provide entertainment offerings that will not just be limited to theatrical film entertainment, but could include: musical performances, plays, comedy shows, professional seminars, VR rooms, educational offerings for schools and universities, NFT galleries, watch-parties for TV shows and sporting events, film festivals, fairs, co-working spaces, and so many other possibilities- all utilizing the same physical space of a movie theater. Instead of a generic, popcorn-scented lobby with the basic concessions, imagine a multi-use atrium which offers bold flavors like Thai food, Tacos, or Mediterranean. We would also work on partnering with any and all entertainment-related web3 communities to become the official entertainment hub of web3.

MovieTheaterDAO aims to be the de-facto theater where web3-funded films and TV shows come to host their premieres. We would also be an obvious choice for traditionally-funded independent films to host their premieres or show screenings, as we would aim to remove much of the bureaucratic red-tape that usually stands in the way of independent filmmakers. As a MovieTheaterDAO member, you will automatically have a screen to share your projects with the world. If you’re a filmmaker, a musical artist, a stand-up comedian, or even a seminar instructor, you can choose to purchase a vendor-pass, and will automatically have a theater to host your own premieres, shows, concerts, and events.

Imagine all of these possibilities, with the governance of a laser-focused DAO, led by experienced professionals from the entertainment and theatrical industries, web3, and other relevant entertainment verticals. Wouldn’t this be a far more efficient and equitable way to run a 100k sq. ft multiplex? MovieTheaterDAO will buy a multi-screen movie theater to meet these goals.

Why MovieTheaterDAO?

Theaters all across the globe are struggling with lowered attendance and increased overhead costs, leading to theaters closing their operations en masse. The most crucial economic hurdle that the modern theater or multiplex faces isn’t simply the waning demand relative to the growing global entertainment economy, but that the rising cost of real estate for housing one or several screens is now intersecting with a relative lack of demand relating to the public’s interest in going to the theater. If the paramount issue is space, then the seemingly obvious solution would be to pivot to a different business model that utilizes these enormous retail spaces in a vastly different way during non-prime hours.

For a variety of reasons, the major theater chains have been unwilling to make drastic changes to this business model. Not only do they fear that radical changes would lead to a more rapid consolidation of their industry, they lack the vision necessary to create the entertainment experience of the future.

That is why it is on us to fix this broken model and create one that better services our needs, without the baggage that these corporations carry. The best path forward in achieving this goal is to leverage the utility of web3 community-building and blockchain ownership transferability, with the organizational structure of a DAO to help govern our collective resources. The best path forward is MovieTheaterDAO.

Phase 1

With Phase 1, we will aim to achieve these main goals:

• Build a robust community that will participate in creating our vision and roadmap. This will involve the use of socials like Twitter, Telegram, Instagram, and a website. We will likely forgo using Discord due to obvious security concerns.

• Plan and execute sale of MovieTheaterDAO NFTs. These multi-tiered NFTs will: grant access to the community, act as membership and/or vendor passes to all physical entertainment hubs that we create, grant voting rights within the DAO, and give access to exclusive perks and benefits for community members. (Although these NFTs will represent DAO voting rights on crucial matters within the organization, they will not govern a liquidity pool.)

• Raise any necessary funding, through private equity and individually accredited investors, of which will enable our LLC to: purchase the multi-year lease of a theater space, fund potential costs of building additional architectural concepts associated with our vision, compensate team members and outside third parties for work for and associated with MovieTheaterDAO LLC, and to fund operational costs and legal fees.

• Build a team and source for relevant experts through our DAO, creating roles that will be compensated by MovieTheaterDAO LLC. Our team(s) will work with our community to establish the core concepts for our space(s).

• Begin process of identifying retail options for our initial theater. We will either identify and focus on a single flagship space, or we will create a concept that we will shop to multiple retail developers. We will aim to open theaters in the main urban centers in the U.S., most likely starting with L.A., New York City, and Miami. The founder of MovieTheaterDAO has been in talks with a real estate firm representing a recently closed multiplex in the center of Los Angeles, who are in the pre-planning stages of renovating and redesigning the space. We will make community-based decisions on how to approach our retail options, but creating a proposal to bring to any specific space that is willing to work with us on a top-to-bottom level will likely be one of our initial projects.

Community

We aren’t just looking for film and entertainment fanatics, but for anyone who is enthusiastic about the potential use-cases for web3 and community-building through the blockchain. So if you love movie theaters, hate movie theaters, or anything in-between, we want you to help us create the in-person entertainment experience of tomorrow.

Legal Footnote

MovieTheaterDAO aims above all else to be in compliance with the current United States securities laws, as determined by the Federal Securities and Exchange Commission.

What does this mean for MovieTheaterDAO?

There will be two separate legal entities within the umbrella of MovieTheaterDAO: “MovieTheaterDAO,” and “MovieTheaterDAO LLC.”

The DAO (MovieTheaterDAO) will function as a think tank for our concept, leveraging blockchain technology to create an epistemological study which will determine new real estate use-cases and business models for movie theaters and similar entertainment facilities. The DAO will provide the governance structure for shaping the overall concept of the project and entertainment hub(s) that we aim to create. This will be executed through a tokenized system within the DAO for our NFT holders- these tokens will not represent a liquidity pool, and will only represent voting rights within the DAO. The DAO will be voting on non-financial matters. Membership passes to MovieTheaterDAO projects and facilities will be sold as NFTs through the DAO. Proceeds from any NFT sale will be used to support our epistemological study, as well as any necessary community-related endeavors related to maintaining and expanding the DAO. These NFT-membership sales are not intended as a means of profit for the DAO or any of its members. We have no association with any efforts made outside of our organization to resell these NFTs or any membership-related offerings. Community members are entitled to contributions from the DAO in a capacity that is commensurate with their own verifiable contributions to the DAO and its ensuing epistemological study.

The LLC (MovieTheaterDAO LLC) is the legal business entity that will execute a majority of the financial transactions and matters associated with the MovieTheaterDAO organization as a whole. This is the entity that will purchase the lease of a movie theater or retail space. We intend to fundraise for our project through the traditional route of private of equity and individually accredited investors. Any funds that will be raised for our projects will be raised through the LLC.