A new decentralized autonomous organization (DAO) has been formed to raise funds to bid on a first-edition printed copy of the United States Constitution auctioned off at major auction house Sotheby’s on November 18. The Constitution will be auctioned off at major auction house Sotheby’s on November 18.
Using an Ethereum (ETH) smart contract, the DAO hopes to pool money to win the bidding war for the unique copy of Bitcoin ($BTC). It is stated on the DAO’s website that “we seek to place control of the Constitution in the hands of the people.”
A total of more than USD 2.7 million (ETH 574), or more than ETH 574, has been raised so far, with new cash being added about every second or so. Given the duplicate’s estimated value of USD 15–20 million, there is a long way to go until the copy is complete.