A new decentralized autonomous organization (DAO) has been organized to lift funds in an effort to bid on a first-edition printed copy of the US Structure which will probably be up for public sale at major public sale home Sotheby’s on November 18.
ConstitutionDAO goals to pool money using an Ethereum (ETH) smart contract and win the bid for the rare copy. “We intend to place The Structure within the hands of The People,” the DAO’s website says.
At the time of writing, the DAO has already raised more than USD 2.7m or ETH 574, with new funds coming in every second or so. Nevertheless, contemplating that the copy is valued at USD 15m-20m, there may be nonetheless a protracted way to go.
The copy is one of only 13 surviving first-edition copies that is poised to go for auction. The print is typically known as the Goldman Constitution because it has been within the fingers of the Goldman family, the twenty-third richest family in the US with a net worth of over USD 13bn, based on Forbes.
S. Howard Goldman, a passionate collector of Americana, bought the Constitution copy for USD 165,000 again in 1988. Dorothy Tapper Goldman, spouse to Howard, now goals to place it up for public sale.
“Full proceeds from the sale of the gathering will profit The Dorothy Tapper Goldman Basis, which is devoted to furthering the understanding of our democracy and the way the acts of all residents could make a distinction,” Sotheby’s said.
ConstitutionDAO isn’t technically a DAO since it has no governance token to allow contributors to regulate the future course of the project. As of now, the group uses a dedicated Discord server, which has already attracted over 7,600 members, to coordinate the moves and answer questions.
“Within the ethos and spirit of Web3, we intend to buy The Structure and discover a house for it among the many world’s most interesting artifacts to be preserved and loved by all. We the individuals plan to protect the doc for the individuals. The possession, in fact, will reside within the DAO. We’ll fractionalize, NFT-ify [non-fungible token-ify], and mem-ify in the way in which that we do,” noted Graham Novak, one of the project’s engineers.
If the undertaking succeeds to buy the historic piece, it is going to be another sought-after item owned by the crypto community. In mid-October, it was revealed that a DAO has acquired the one-of-a-kind Wu-Tang Clan’s “Once Upon a Time in Shaolin” record.