Unconfirmed: ConstitutionDAO Did Not Win the Auction. But It Demonstrated the Power of DAOs - Ep.291
Nov 19, 2021
Will Papper, SyndicateDAO co-founder and ConstitutionDAO contributor, tells the story of how a group of internet friends came together as a DAO to crowdfund a $41 million bid at a Sotheby’s auction for a physical copy of the US Constitution. Show highlights:
- how Will and other ConstitutionDAO members feel after losing the auction
- the significance of ConstitutionDAO despite its loss
- whether Will knows who the other bidder was
- why museums began reaching out to ConstitutionDAO and seem to be excited about DAOs moving forward
- why there was so much confusion over who was the bidder for the DAO and whether it had won
- why ConstitutionDAO did not bid more than $41 million -- even though the crowdfund was at nearly $50 million
- why ConstitutionDAO did not have a crypto-whale help keep the bidding war going
- how ConstitutionDAO plans to refund participants
- what Will thinks about using a layer 2 solution to refund ETH for ConstitutionDAO donations
- how the idea for ConstitutionDAO came about
- what role Will had in the formation of ConstitutionDAO
- what lessons can be learned from ConstitutionDAO
- what’s next for DAOs in general
Thank you to our sponsors!
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Episode Links
Will Papper
- Twitter: https://twitter.com/WillPapper
- LinkedIn: https://www.linkedin.com/in/wpapper
ConstitutionDAO
- Twitter: https://twitter.com/ConstitutionDAO
- Website: https://www.constitutiondao.com/
- Contribution page: https://juicebox.money/#/p/constitutiondao
Sotheby’s Auction
ConstitutionDAO’s Statement After Losing Auction
- https://twitter.com/ConstitutionDAO/status/1461527516670316544
- https://twitter.com/ConstitutionDAO/status/1461498841820192771
Press
- Not Boring: https://www.notboring.co/p/lets-buy-the-us-constitution
- Stratechery: https://stratechery.com/2021/constitutiondao-the-need-for-trust-memes-and-reality/
- New York Times: https://www.nytimes.com/2021/11/17/business/crypto-constitution-sothebys.html?smid=tw-share
- Wall Street Journal: https://www.wsj.com/articles/crypto-investors-want-to-buy-rare-copy-of-u-s-constitution-at-sothebys-auction-11637071590
- The Defiant: https://thedefiant.io/dao-constitution-4m/
- CoinDesk: https://www.coindesk.com/tech/2021/11/15/i-think-were-doing-this-inside-one-daos-20m-plot-to-purchase-the-us-constitution/
- William Lobkowicz tweet thread: https://twitter.com/WRLobkowicz/status/1461401142953402371