In Brief:
- ConstitutionDAO raised over $40 Million to bid on an original printing of the US Constitution.
- The expected range of the bidding was $15 to $20 million.
- As per their website, “The DAO would collectively own the copy of the Constitution.”
A decentralized autonomous organization named ConstitutionDAO has raised over $40 Million to bid on the original- “500 printings of the US Constitution from 1787” which will be auctioned off by Sotheby today at 6:30 p.m.
As of this writing, ConstitutionDAO tweeted about raising a massive $37 Million exceeding the expected range of $15 to $20 million. The fundraising was done on a juicebox.
ConstitutionDAO contributor Adrienne Young disclosed the plans if they miss out on the bid, “If we lose the auction, our primary plan is to refund the contributions. We have some mechanisms in place for this — we’re receiving contributions through Juicebox right now, and they’re able to issue refunds should we lose. We’re also a DAO, so this will be put to a vote by the community, and it’s possible that another path will be chosen, such as bidding on another historical artifact or donating the money to a charity.”
Another Contributor, Tina talked about the strategy if they win the bid, which is that “the copy of the Constitution would be the only one actually governed by its citizens — the people the Constitution was written for!” She further explained, “Based on the decisions of the DAO, it may be displayed all over the country, and everyone who has contributed will get to have a say in where it is exhibited and for how long.”
The original rare copy was once bought by S.Howard Goldman from Sotheby. After his death, his wife, Dorothy Goldman became the custodian of the copy.
On 12 November, ConstitutionDAO had tweeted that it was trying to raise $20 million to bid on the auction.
