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

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.   For those not familiar with the saga, here’s what happened.  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 Sotheby’s.  This version is the last privately owned copy—of only 13 copies in total—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 million—more than twice the estimated sale price of $20 million.

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