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November 19, 2021by Laura Shin

ConstitutionDAO Did Not Win the Auction. But It Demonstrated the Power of DAOs

Will Papper, SyndicateDAO co-founder and ConstitutionDAO contributor, tells the story of how a group of internet friends came together as a DAO to crowdfund a $41 million bid at a Sotheby’s auction for a physical copy of the US Constitution. Show highlights:

  • how Will and other ConstitutionDAO members feel after losing the auction
  • the significance of ConstitutionDAO despite its loss
  • whether Will knows who the other bidder was
  • why museums began reaching out to ConstitutionDAO and seem to be excited about DAOs moving forward
  • why there was so much confusion over who was the bidder for the DAO and whether it had won
  • why ConstitutionDAO did not bid more than $41 million — even though the crowdfund was at nearly $50 million
  • why ConstitutionDAO did not have a crypto-whale help keep the bidding war going
  • how ConstitutionDAO plans to refund participants
  • what Will thinks about using a layer 2 solution to refund ETH for ConstitutionDAO donations
  • how the idea for ConstitutionDAO came about
  • what role Will had in the formation of ConstitutionDAO
  • what lessons can be learned from ConstitutionDAO
  • what’s next for DAOs in general

Thank you to our sponsors!

Avado: ava.do

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021   

Nodle: https://bit.ly/3AXGydJ   

Episode Links

Will Papper

  • Twitter: https://twitter.com/WillPapper
  • LinkedIn: https://www.linkedin.com/in/wpapper 

ConstitutionDAO

  • Twitter: https://twitter.com/ConstitutionDAO 
  • Website: https://www.constitutiondao.com/ 
  • Contribution page: https://juicebox.money/#/p/constitutiondao 

Sotheby’s Auction

  • YouTube: https://www.youtube.com/watch?v=1TBa-9Lx3vc 

ConstitutionDAO’s Statement After Losing Auction

  • ​​https://twitter.com/ConstitutionDAO/status/1461527516670316544 
  • https://twitter.com/ConstitutionDAO/status/1461498841820192771 

Press

  • Not Boring: https://www.notboring.co/p/lets-buy-the-us-constitution 
  • Stratechery: https://stratechery.com/2021/constitutiondao-the-need-for-trust-memes-and-reality/ 
  • New York Times: https://www.nytimes.com/2021/11/17/business/crypto-constitution-sothebys.html?smid=tw-share
  • Wall Street Journal: https://www.wsj.com/articles/crypto-investors-want-to-buy-rare-copy-of-u-s-constitution-at-sothebys-auction-11637071590 
  • The Defiant: https://thedefiant.io/dao-constitution-4m/
  • CoinDesk: https://www.coindesk.com/tech/2021/11/15/i-think-were-doing-this-inside-one-daos-20m-plot-to-purchase-the-us-constitution/ 
  • William Lobkowicz tweet thread: https://twitter.com/WRLobkowicz/status/1461401142953402371 

Posted in: 2021, Shows, UnconfirmedTagged in: ConstitutionDAO, crypto, dao, ETH, ethereum

Our guest on this episode:
Will Papper, SyndicateDAO co-founder and ConstitutionDAO contributor

Will Papper

SyndicateDAO co-founder and ConstitutionDAO contributor

© Copyright 2022 – 2023 Laura Shin Media LLC. All Rights Reserved.

Website by Zach Swinehart.

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Unchained Podcast

  • Podcast
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