Newborn black holes in collapsing massive stars can be accompanied by a fallback disk. The accretion rate is typically super-Eddington and strong disk outflows are expected. Such outflows could be directly observed in some failed explosions of compact (blue supergiants or Wolf-Rayet stars) progenitors, and may be more common than long-duration gamma-ray bursts. Using an analytical model, we show that the fallback disk outflows produce blue UV-optical transients with a peak bolometric luminosity of ~10^(42-43) erg s^-1 (peak R-band absolute AB magnitudes of -16 to -18) and an emission duration of ~ a few to ~ 10 days. The spectra are likely dominated intermediate mass elements, but will lack much radioactive nuclei and iron-group elements. The above properties are broadly consistent with some of the rapid blue transients detected by Pan-STARRS and PTF. This scenario can be distinguished from alternative models using radio observations within a few years after the optical peak.
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