Would you chip in to buy a copy of the Constitution?
ConstitutionDAO is on track to make more noise than Beeple’s NFT. The idea: pool funds and bid on a draft of the Constitution, originally made for the Constitutional Congress back in 1787. It’s going up for auction at Sotheby’s on Thursday (today) and it’s the only surviving copy (out of 13) that’s privately owned.
Maker Julian Weisser shared current fundraising stats: "Over $40M raised" with a "median contribution [of] $228.58" and 28% growth in individual contributor in last 8 hours.
The leading makers behind the effort set up ConstitutionDAO, a decentralized autonomous organization (DAO), to ensure that decision-making about what to do with the Constitution could be managed fairly across those who contribute.
If you’re new to the term, a DAO is a structure that uses blockchain tech to allow participants to self-govern. DAOs enable communities to decentralize authority and automate decisions through rules that are encoded, transparent, and controlled by members.
In the case of ConstitutionDAO, members join by contributing to the pool (you’ll need Ether). The makers will refund all the money if they lose the auction. If they win, everyone will be given tokens to enable DAO members to take part in governance. The website makes two things clear — this is not an investment, and you won’t be gaining fractional ownership of the Constitution.
“Governance includes the ability to advise on (for illustrative purposes) where the Constitution should be displayed, how it should be exhibited, and the mission and values of ConstitutionDAO.”
Each DAO is different. With VitaDAO, which launched in June, community members fund longevity research. Members join by purchasing VITA tokens, which enable them to engage in decision-making around research funding and governance of the IP portfolio.
Some people are concerned or critical of DOAs, particularly after one called “The DAO” lost $50M in Ether to hackers in 2019 due to coding errors. But after much thought has been poured into DAOs over the last few years, the crypto community is bullish on them.
Which leads us to the “why.” While ConstitutionDAO notes it’s using this technology to “honor and protect the greatest historical tool for human governance,” it seems fair to say that ConstitutionDAO, if successful, will also serve as a high-profile example of what DAOs — and communities with the right tools — can accomplish.
Skittish is now open to the public.
The tech community has been excitedly anticipating the “weird spatial audio virtual event space” from Andy Baio for months. Baio is a cofounder of XOXO, a beloved experimental festival that brings together makers and digital creators — or did, prior to a pandemic-imposed break.
Though this space is thick with competition, the quirky games, animal avatars, and cameras-off atmosphere help to differentiate this online playground.
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