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Crypto Investors ConstitutionDAO bid on U.S. Constitution at Sotheby’s Auction

The Cryptoverse eyes the U.S. Constitution

Crypto Investors ConstitutionDAO bid on U.S. Constitution at Sotheby’s Auction
ConstitutionDAO

The Cryptoverse eyes the U.S. Constitution

The Future. A large group of crypto enthusiasts, ConstitutionDAO, expect to place the winning bid at a historic Sotheby’s auction this week for an original copy of the U.S. Constitution. The document (which is one of thirteen originals left from the 500 that were circulated in 1787) will be auctioned on Thursday, and ConstitutionDAO’s crowdfunding efforts are on track to meet (or exceed) Sotheby’s $15M-20M estimated selling price in Ethereum.

DAOs driving culture

“DAO” stands for decentralized autonomous organization, which means they advocate for collective ownership and democratized decision making. DAOs, which run on blockchain technology, have been making headlines across pop culture this year:

  • A DAO backed by deadmau5 aims to help artists and their managers better control their royalty contracts. The platform, MODA DAO, has raised $5M.
  • Brud, the company that created virtual influencer and model Lil Miquela, is in the process of becoming a DAO.
  • Fashion-driven DAO group, Global Designer Network, is a collective of emerging and indie designers that teaches each other how to design for the metaverse.

ConstitutionDAO aims to celebrate the democracy of our nation by putting the ownership of the Constitution in the hands of the people. They are publicizing their movement through memes, and their Discord includes an active brainstorm to get Nicholas Cage involved as a nod to his National Treasure role.

We the People
The ConstitutionDAO website says, “We believe that The U.S. Constitution is a shared good and should be shared and displayed in public spaces — by the people whose governance and freedom it was created to protect. The group created its own token, called $PEOPLE, that will be paid out to contributors if the group wins the auction to give back to supporters. Each contributor’s earning in $PEOPLE will be based on the amount they invested in the bid.