ConstitutionDAO2 Aims to Buy a Rare Copy of US Constitution

ConstitutionDAO2 Aims to Buy a Rare Copy of US Constitution

DAOs, or Decentralized Autonomous Organizations, can be formed for a whole range of reasons. From investment, to charity, fundraising, borrowing, and NFT buying, members of a DAO can come together for any reason and decide how to spend the funds. 

ConstitutionDAO2, a DAO whose main goal is to buy the US Constitution, is attempting to buy the civic artifact. In November of 2022, Sotheby’s announced that they will auction the only remaining original privately owned printing of the Constitution.

This is not the first time a DAO has attempted to buy the Constitution. The movement was first created in November of 2021, and gathered over 17 thousand people from around the world, raking in $40M for the auction. However, they were just pipped to the post at the last minute by billionaire and Citadel LLC CEO Ken Griffin, who paid $43.2M.

This time, ConstitutionDAO2 is going in all guns blazing. The DAO stated that the communities they inspired have been hard at work for a whole year, developing privacy technology and experimenting with DAOs.

Also, last year’s bidders knew the amount of funds ConstitutionDAO was going to bid due to Ethereum’s transparency. In this second attempt, contributors have two options: make a private contribution or a public contribution.

So, now they can choose to mask the total amount of funds from other bidders (and billionaires).

The new DAO is not affiliated with the old group, which said in a Nov. 17 tweet it would not be attempting another crowdfunding campaign this time around.

ConstitutionDAO2 is a coalition of 16 separate organizations, including Juicebox, Nucleo, Aztec Network, and MoonDAO. It also includes PeopleDAO, which governs the treasury of PEOPLE tokens originally created by ConstitutionDAO, now run by separate individuals.

ConstitutionDAO2’s mission is to “start a collection of civic artifacts that are totally run by the people,” according to a tweet. It has so far raised 27.8 ETH (around $34,000) as of Wednesday in public contributions from 120 wallets, though a representative said the amount raised privately is much greater. The new auction will be held live at Sotheby’s auction house in New York on Dec. 13.

The new DAO will use non-fungible tokens (NFT) to manage the artifact’s governance if it does end up winning the auction. Contributors can choose from four different NFT tiers: 0.1 ETH (around $122) for “Citizen,” 1 ETH (around $1,220) for “Representative,” 10 ETH (around $12,220) for “Senator” and 100 ETH (around $122,000) for “Executive.” The document itself would be legally owned by a nonprofit organization called UnumDAO.

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