Dec 2, 2021
How a “financial flash mob” is trying to raise $20 million for a rare copy of the U.S. Constitution.
“Group bids for big-ticket collectibles aren’t new. But ConstitutionDAO is a particularly quixotic example of what’s known as a ‘decentralized autonomous organization,’ a kind of internet-native co-op that is governed with cryptocurrency tokens and blockchain-based ‘smart contracts’ instead of traditional corporate boards and bylaws … A successful bid for the Constitution would likely be the largest purchase by a DAO. And it would signal that these groups could extend their reach beyond digital goods and into more traditional markets.”
