Cryptocurrency startup plans to buy the US Constitution

The founders of the cryptocurrency crowdfunding initiative ConstitutionDAO are planning to buy the US Constitution, which will be the organization’s second attempt to obtain an original printed copy of the most important document in America. After failing in the bidding last year, the association’s representatives quarreled and closed the organization, but after a while they created its updated version, ConstitutionDAO2, involving more companies and individual investors in the initiative.

ConstitutionDAO2 wants to buy the printing from Sotheby's so that it can start a collection of civic artifacts that are totally run by the people. We are going to teach the world about democratic innovations found in history and on web3.

— ConstitutionDAO2 (📜,📜) (@WAGBTC) December 7, 2022

In total, 500 original copies of the Constitution were created, but only 13 have survived since 1787, and one remains unsold, which the community hopes to purchase. ConstitutionDAO2 was founded by digital asset owners who decided to join forces to compete with billionaires and wealthy collectors at the auction. ConstitutionDAO2 accepts charitable crypto donations online: publicly through the Juicebox platform or privately through Nucleo.

Last year, Kenneth Griffin, an entrepreneur, investor, and one of the 50 richest people in America, paid more than $ 43 million for the penultimate copy of the US Constitution. While ConstitutionDAO managed to raise $ 40 million. After losing, the initiative’s participants quarreled, failed to divide the funds, and the organization was closed.

This year’s Sotheby’s auction will take place on December 13, and if ConstitutionDAO2 wins the desired lot, all investors will have the right to vote for the management of the Constitution. It is believed that ConstitutionDAO2 can become an example of direct democracy. In case of a loss, all funds raised must be returned to users in full.