ConstitutionDAO Crowdfunding Attempt

A group is creating a DAO (Decentralized Autonomous Organization) to collectively purchase one of the 11 original copies of the U.S. Constitution being auctioned at Sotheby's, then fractionally own it as a group through NFTs.

Key Points:

• Fundraising Structure:

  • Target: $15-20 million needed
  • Current Progress: $3.6M raised from 2,000 people
  • $10M in soft commitments
  • Anyone can contribute any amount

• Ownership Model:

  • Similar to CryptoPunk DAOs where people pool money to buy expensive assets
  • Constitution will be turned into an NFT
  • Contributors receive fractional ownership based on investment
  • Voting rights tied to ownership percentage
  • Requires majority vote to make decisions about the asset

• Physical Asset Management:

  • Plan to display physical constitution in Smithsonian
  • Custody structure uses wallet that holds NFT
  • Multi-signature system requiring percentage of votes to move/change NFT

• Organization:

  • Run through ConstitutionDAO
  • Organized by small group of NFT collectors
  • Using Discord for community (thousands of members)
  • Marketing through crypto influencers to spread word