Meet The Crypto Organization That's Buying An Original Copy Of The US Constitution

ConstitutionDAO is a decentralized autonomous organization that was built with the sole purpose of buying one of the 21 original copies of the United States Constitution at an upcoming auction at the Sotheby's auction house.

What Happened: ConstitutionDAO actually started as "a pie-in-the-sky dream" Thursday but has now amassed nearly $4 million in donations, and its founding members believe that it has a real possibility of succeeding in its intent, according to a Monday Coindesk report.

The report points out that the ConstitutionDAO's ability to go from being a mere idea to $4 million in mere days is "a testament to the organizational power of DAOs."

In under a week, the organization attracted 11,000 social media followers, donations from 2,000 Ethereum ETH/USD addresses and contributors who have set up the infrastructure required for its operation.

Julian Weisser, a ConstitutionDAO member and founder of talent incubator On Deck, said the limited time frame is partly responsible for the success of the initiative.

“If we had 90 days, there just wouldn’t be this energy and momentum because there wouldn’t need to be. And you need those things to make people move — it’s intense, but it’s necessary."

Advisor at venture capital firm Andressen Horowitz Packy McCormick wrote that this is "the only remaining privately-owned copy and the proceeds are being donated to a non-profit supporting democracy education." Furthermore, he also highlighted that "it’s the first time a copy of the U.S. Constitution will go on sale in 33 years."