Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Crypto investors are raising millions to buy a copy of the Constitution at a Sotheby’s auction

by
November 16, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

New York identifies ‘disadvantaged communities’ that will receive extra climate funding

Goldman Sachs picks the winners and losers in regional banks after the SVB collapse

A page of the first printing of the United States Constitution is displayed at the offices of Sotheby’s auction house in New York on September 17, 2021.

Ed Jones | AFP | Getty Images

Sotheby’s is auctioning off an extremely rare and historic first-edition printing of the U.S. Constitution, and crypto investors are pooling millions of dollars worth of ether to buy it.

An organization known as ConstitutionDAO is raising the money using a digital crypto wallet with the aim of crowdsourcing enough funds to make the winning bid when the document hits the auction block on Thursday night.

The foundational text is valued at $15 million to $20 million. Since launching five days ago, the group has thus far raised 967 ether, or $4.3 million.

The exercise offers some of the first practical insight into how crypto infrastructure can be used to facilitate fractional ownership of a physical artifact.

ConstitutionDAO is a decentralized autonomous organization, or DAO, formed for the sole purpose of putting an original copy of the Constitution back in the hands of the people.

Investor Cooper Turley says DAOs are like an “internet community with a shared bank account.” Turley helps build several popular DAOs.

“Basically, a small group of people come together to form a chat group, and then they decide to pull capital together, [typically] using an Ethereum wallet,” Turley previously told CNBC.

DAOs take coordination of resources on the internet to a new level, according to Auston Bunsen, co-founder of QuikNode, which provides blockchain infrastructure to developers and companies. Think random strangers coordinating to buy a basketball team, Bunsen told CNBC.

“They represent a new kind of organization moving at hyper speed,” said Bunsen.

If ConstitutionDAO secures the winning bid with this consortium of crypto bidders, each contributor will fractionally own part of the text.

“Everyone who buys in, they get a portion of the governance token of the DAO, and they can then use that token to vote on where the Constitution should actually be custodied,” ConstitutionDAO contributor Alice Ma told CNBC.

The group is currently weighing different museums across the country, should they take home the first edition copy.

ShareTweetPin

Related Posts

New York identifies ‘disadvantaged communities’ that will receive extra climate funding

by
March 29, 2023
0

People walk through the Brooklyn Bridge during a strike for climate on March 03, 2023 in New York City. Protesters...

Goldman Sachs picks the winners and losers in regional banks after the SVB collapse

by
March 29, 2023
0

The banking crisis continues to keep investors on edge about the health of regional banks. Now Goldman Sachs has identified...

ChatGPT and A.I. might have a future as your portfolio manager, study suggests

by
March 29, 2023
0

Lionel Bonaventure | Afp | Getty Images The proliferation of artificial intelligence programs such as ChatGPT and Alphabet's BardAI has...

We’re halfway to a tipping point for the Greenland Ice Sheet after which sea levels rise by 6 feet

by
March 29, 2023
0

An aerial view of meltwater lakes formed at the Russell Glacier front, part of the Greenland ice sheet in Kangerlussuaq,...

Elon Musk, tech leaders urge pause on ‘dangerous race’ to make A.I. as advanced as humans

by
March 29, 2023
0

Sopa Images | Lightrocket | Getty Images Elon Musk and dozens of other technology leaders have called on AI labs...

Next Post

China's slowdown could hurt Alibaba's earnings. Here's what analysts expect

Chinese livestreamers can rake in billions of dollars in hours. How long will it last?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com