Unchained Unconfirmed: ConstitutionDAO Did Not Win the Auction. But It Demonstrated the Power of DAOs - Ep.291
Nov 19, 2021
Will Papper, co-founder of SyndicateDAO and contributor to ConstitutionDAO, shares the thrilling story of a DAO's ambitious attempt to crowdfund a $41 million bid for a copy of the US Constitution. He discusses the emotional aftermath of losing the auction and why their bid didn't exceed $41 million despite growing contributions. Museums are now excited about DAOs, highlighting their potential, and Will dives into lessons learned from the experience. He also explores future prospects for DAOs and their impact on fundraising strategies.
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ConstitutionDAO's Impact
- ConstitutionDAO, despite losing the auction, successfully onboarded many people to Web3.
- The DAO demonstrated the power of Web3 coordination by raising a substantial amount of money quickly.
Museum Interest in DAOs
- Museums approached ConstitutionDAO for partnerships, not direct bidding.
- They were drawn to the DAO's values of public access and participation, suggesting alignment with their own.
Auction Night Confusion
- ConstitutionDAO members at a livestream party couldn't reveal their bidder's identity until officially announced.
- Confusion arose from unofficial 'We Won' articles, but a corrective statement was issued.