One of 13 rare copies of the first edition of the US Constitution is auctioned off by Sotheby’s Thursday, November 18, and a group of cryptocurrency investors – a decentralized autonomous organization (DAO) nicknamed ConstitutionDAO – raises funds in the hope to win the auction.
Last month, a DAO known as PleasrDAO bought a rare Wu-Tang Clan CD for $ 4 million which was seized by the US Department of Justice in July after being confiscated by the hedge fund manager. condemned Martin Shkreli.
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This is the first time in 33 years that one of the surviving copies of the official edition of the Constitutional Convention will be auctioned publicly, and it is the only one owned by private collectors.
The 13 surviving copies come from an edition of 500 copies issued for submission to the Continental Congress and for the use of delegates to the Constitutional Convention, according to Sotheby’s.
“This is the very first appearance of the final text of the Constitution, now the longest governing charter in the world,” Sotheby’s said in a description of the auction on its website.
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ConstitutionDAO raised nearly $ 5.5 million of its goal of $ 20 million. While contributors will not receive fractional ownership of the Constitution, they will instead receive a governance token that allows the owner to offer advice on where the historical record should be displayed.
“In the philosophy and spirit of Web3, we intend to buy The Constitution and find it a home among the best artifacts in the world to be preserved and enjoyed by all,” wrote Graham Novak, one of the architects of the project, on Discord. “We, the people, plan to preserve the document for the people.
“The property, of course, will reside within the DAO. We will split, NFT-if, and memorize as we do. “
The auctioned copy was purchased in 1988 for $ 165,000 by real estate developer S. Howard Goldman and is now owned by his widow, Dorothy Tapper Goldman. Proceeds from the auction will benefit the Dorothy Tapper Goldman Foundation.