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Constitution DAO

PEOPLE

  • Crowdfunding DAO
  • DAO
Established Year
2021
Operating Status
Active
Ecosystem
Ethereum
ConstitutionDAO is a decentralized autonomous organization (DAO) formed in November 2021 to purchase an original copy of the United States Constitution. It raised $47 million in Ether cryptocurrency, but lost to a bid of $43.2 million in the Sotheby's auction.

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What Is Constitution DAO (PEOPLE)?

[Constitution DAO](https://www.coinlive.com/coin/constitutiondao) was an experiment that has now been dissolved. In November 2021, a group web3-enthusiasts gathered as a [decentralized autonomous organization](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) with the shared objective of buying a copy of the U.S. Constitution at a Sotheby’s Auction. There are only 13 original physical copies of the U.S Constitution in existence, which meant that this auction sparked a competitive bidding battle. Even though the group managed to raise well over $40 million in ETH, it ultimately fell short and was outbid by Ken Griffin, a billionaire hedge fund manager and CEO of Citadel. Constitution DAO announced that it would disband after its unsuccessful grassroots attempt to buy one of the most valuable and iconic documents in U.S. history. All donations are being refunded.