The Blockbuster bankruptcy and subsequent purchase means that your gift cards are now worth absolutely nothing.
Ah the humble gift card. It's such a simple gift to get for Christmas, birthdays, Easter, graduation, or just to say "thanks." The giving of gift cards is a fine tradition, but one that has occasion to backfire - and that's what's happening now.
If you have Blockbuster gift cards lying around then that's what they'll continue to do. As of now, they're worthless. Blockbuster has announced that they're no longer accepting gift cards. Not too big a deal if you've got a $10 card lying around, but if you have something a bit more significant it couldn't hurt to make a call.
And of course, since Blockbuster is no longer accepting gift cards, don't buy one of the dozens of cheap gift cards on eBay or one of the many that you'll find popping up on Craigslist - unless you really love collecting gift cards.
Source: Sun Sentinel