• Latest
  • Trending
ConstitutionDAO Fails to Win Copy of US Constitution Despite Raising $47 Million in Crypto

ConstitutionDAO Fails to Win Copy of US Constitution Despite Raising $47 Million in Crypto

November 19, 2021
ATC Ghana supports Girls-In-ICT Program

ATC Ghana supports Girls-In-ICT Program

April 25, 2023
Vice President Dr. Bawumia inaugurates  ICT Hub

Vice President Dr. Bawumia inaugurates ICT Hub

April 2, 2023
Co-Creation Hub’s edtech accelerator puts $15M towards African startups

Co-Creation Hub’s edtech accelerator puts $15M towards African startups

February 20, 2023
Data Leak Hits Thousands of NHS Workers

Data Leak Hits Thousands of NHS Workers

February 20, 2023
EU Cybersecurity Agency Warns Against Chinese APTs

EU Cybersecurity Agency Warns Against Chinese APTs

February 20, 2023
How Your Storage System Will Still Be Viable in 5 Years’ Time?

How Your Storage System Will Still Be Viable in 5 Years’ Time?

February 20, 2023
The Broken Promises From Cybersecurity Vendors

Cloud Infrastructure Used By WIP26 For Espionage Attacks on Telcos

February 20, 2023
Instagram and Facebook to get paid-for verification

Instagram and Facebook to get paid-for verification

February 20, 2023
YouTube CEO Susan Wojcicki steps down after nine years

YouTube CEO Susan Wojcicki steps down after nine years

February 20, 2023
Inaugural AfCFTA Conference on Women and Youth in Trade

Inaugural AfCFTA Conference on Women and Youth in Trade

September 6, 2022
Instagram fined €405m over children’s data privacy

Instagram fined €405m over children’s data privacy

September 6, 2022
8 Most Common Causes of a Data Breach

5.7bn data entries found exposed on Chinese VPN

August 18, 2022
  • Consumer Watch
  • Kids Page
  • Directory
  • Events
  • Reviews
Thursday, 10 July, 2025
  • Login
itechnewsonline.com
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion
Subscription
Advertise
No Result
View All Result
itechnewsonline.com
No Result
View All Result

ConstitutionDAO Fails to Win Copy of US Constitution Despite Raising $47 Million in Crypto

by ITECHNEWS
November 19, 2021
in Business
0 0
0
ConstitutionDAO Fails to Win Copy of US Constitution Despite Raising $47 Million in Crypto

The photo shows a physical imitation of a Ethereum cryptocurrency in Dortmund, western Germany, on January 27, 2020. (Photo by INA FASSBENDER / AFP) (Photo by INA FASSBENDER/AFP via Getty Images)

ConstitutionDAO has failed to win a rare copy of the United States Constitution at an auction even after raising $47 million in cryptocurrency to fund the effort.

The rare copy of the Constitution eventually sold for $43.2 million at Sotheby’s. The copy is known to be one of two that are not held in a collection owned by an institution. It is also one of the 13 copies of the Constitution printed in 1787 that have survived.

YOU MAY ALSO LIKE

Inaugural AfCFTA Conference on Women and Youth in Trade

Instagram fined €405m over children’s data privacy

ConstitutionDAO was formed just a week before the Sotheby’s auction, and organizers solicited funds in Ethereum. The money raised for the auction will be returned to the contributors.

ConstitutionDAO Fails to Win Copy of US Constitution

pic.twitter.com/6GVxlkvJbj

— ConstitutionDAO (📜, 📜) (@ConstitutionDAO) November 19, 2021

  
ConstitutionDAO did not win the rare copy of the US Constitution at an auction at Sotheby’s. The copy was eventually sold for $43.2 million.

According to a report by the BBC, ConstitutionDAO is “a crowd-funded effort to buy a rare 1787 copy of the US constitution at auction claims to have received more than $40m (£29.6m) worth of cryptocurrency donations.”

Per a report by The Verge, the organizers of the crowd-funded effort believe that had they bid higher, they would not have enough funds to ensure the proper storage and transport of the rare copy.

Still, the organizers believe that “we still made history tonight with ConstitutionDAO,” according to an update posted on Twitter. The organizers likewise believe that the fundraising effort to win the auction is the largest crypto or fiat crowdfund they are aware of for any physical object.

The Verge has described the online auction for the rare copy of the Constitution as chaotic and messy.

ConstitutionDAO

According to the BBC report, DAO stands for decentralized autonomous organization.

The idea behind DAO, said the BBC, “is to enable individuals to come together to make purchases and share ownership, with their transactions and operating rules recorded on the blockchain.”

ConstitutionDAO was launched just a week before the Sotheby’s auction and solicited the funds that would have been used to buy the copy of the constitution in Ethereum. The money that has been raised will be returned to those who contributed to the fundraising effort, per The Verge.

According to the BBC, the organizers behind ConstitutionDAO initially said that contributors will own a piece of the Constitution depending on the share of the contribution. That was eventually changed and, had ConstitutionDAO won the auction, the contributors would no longer own a piece of the Constitution.

Source: Isabella James, Tech Times 

ShareTweetShare
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.

Search

No Result
View All Result

Recent News

ATC Ghana supports Girls-In-ICT Program

ATC Ghana supports Girls-In-ICT Program

April 25, 2023
Vice President Dr. Bawumia inaugurates  ICT Hub

Vice President Dr. Bawumia inaugurates ICT Hub

April 2, 2023
Co-Creation Hub’s edtech accelerator puts $15M towards African startups

Co-Creation Hub’s edtech accelerator puts $15M towards African startups

February 20, 2023

About What We Do

itechnewsonline.com

We bring you the best Premium Tech News.

Recent News With Image

ATC Ghana supports Girls-In-ICT Program

ATC Ghana supports Girls-In-ICT Program

April 25, 2023
Vice President Dr. Bawumia inaugurates  ICT Hub

Vice President Dr. Bawumia inaugurates ICT Hub

April 2, 2023

Recent News

  • ATC Ghana supports Girls-In-ICT Program April 25, 2023
  • Vice President Dr. Bawumia inaugurates ICT Hub April 2, 2023
  • Co-Creation Hub’s edtech accelerator puts $15M towards African startups February 20, 2023
  • Data Leak Hits Thousands of NHS Workers February 20, 2023
  • Home
  • InfoSec
  • Opinion
  • Africa Tech
  • Data Storage

© 2021-2022 iTechNewsOnline.Com - Powered by BackUPDataSystems

No Result
View All Result
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion

© 2021-2022 iTechNewsOnline.Com - Powered by BackUPDataSystems

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version