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ConstitutionDAO: The failed project that shook the crypto world ConstitutionDAO: The failed project that shook the crypto world

ConstitutionDAO: The failed project that shook the crypto world

These are some of the key points that set DAOs apart from traditional forms of organization.

ConstitutionDAO: The failed project that shook the crypto world

Cover art/illustration via CryptoSlate

ConstitutionDAO is a true underdog story that gave the world an idea of what DAOs, a new form of blockchain-based community, can accomplish in the future.ย ย  For those not familiar with the saga, hereโ€™s what happened.ย  What is ConstitutionDAO? ConstitutionDAO was launched on November 11 by a group of crypto enthusiasts as an attempt to raise funds via DAO to buy the first printed version of the US Constitution, on auction by Sothebyโ€™s.ย  This version is the last privately owned copyโ€”of only 13 copies in totalโ€”of the Constitution, and ConstitutionDAO hoped to serve as to transfer it to community ownership rather than to a lone wealthy individual.

By November 19, ConstitutionDAO raised nearly 11,000 ETH on JuiceBox, a community funding for people and projects, or just over $45 millionโ€”more than twice the estimated sale price of $20 million.

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