Constitution Despite raising (dollar)47 million in cryptocurrency, the DAO is unable to obtain a copy of the United States Constitution.
Even after raising (dollar)47 million in bitcoin to fund the attempt, DAO was unable to win a rare copy of the United States Constitution at an auction.
Sotheby’s eventually sold the rare copy of the Constitution for (dollar)43.2 million. The copy is believed to be one of two that do not belong to an institution’s collection. It’s also one of only 13 copies of the 1787 Constitution that have survived.
The ConstitutionDAO was founded just a week before the Sotheby’s auction, and its organizers raised money in Ethereum. The proceeds from the auction will be refunded to the donors.
ConstitutionDAO’s Attempt to Win a Copy of the US Constitution Failspic.twitter.com
— ConstitutionDAO (@ConstitutionDAO) (,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 19 November 2021 At a Sotheby’s auction, ConstitutionDAO did not win a rare copy of the US Constitution. The copy went for (dollar)43.2 million in the end.
ConstitutionDAO is “a crowd-funded initiative to buy a rare 1787 copy of the US constitution at auction claims to have garnered more than (dollar)40 million (£29.6 million) worth of cryptocurrency donations,” according to a BBC article.
According to The Verge, the crowd-funded effort’s organizers believe that if they had bid higher, they would not have been able to assure the correct storage and transportation of the rare copy.
Despite this, according to a Twitter update, the organizers feel “we still made history tonight with ConstitutionDAO.” The organizers also think that the fundraising attempt to win the auction is the greatest crypto or fiat crowdfund for any physical thing they are aware of.
The online auction for the rare copy of the Constitution has been described as chaotic and disorderly by The Verge.
DAO (decentralized autonomous organization) stands for decentralized autonomous organization, according to a BBC story.
“The idea behind DAO is to enable anyone to gather together to make purchases and share ownership, with their transactions and operating rules recorded on the blockchain,” according to the BBC.
DAO was created about a week before the Sotheby’s auction to raise funds for the purchase of the copy of the constitution in Ethereum. According to The Verge, the money raised will be refunded to everyone who donated to the fundraising drive.
The organizers of ConstitutionDAO first stated, according to the BBC, that contributors will own a portion of the Constitution based on their contribution share. That was altered afterwards, and if ConstitutionDAO had won the auction, the. News from Brinkwire in a nutshell.