ConstitutionDAO Did Not Win the Auction. But It Demonstrated the Power of DAOs

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!

Avado: ava.do

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021   

Nodle: https://bit.ly/3AXGydJ   

Episode Links

Will Papper

ConstitutionDAO

Sotheby’s Auction

ConstitutionDAO’s Statement After Losing Auction

Press

The post ConstitutionDAO Did Not Win the Auction. But It Demonstrated the Power of DAOs appeared first on Unchained Podcast.