Crypto fans raised roughly $47 million in Ethereum in an try to purchase a replica of the US Constitution at an artwork public sale.
A decentralized autonomous group (DAO) known as ConstitutionDAO raised the cash by greater than 17,000 completely different donors with the aim of shopping for one of solely 13 authentic remaining copies of the doc.
The public sale, held by iconic British public sale home Sotheby’s, was held just about and accepted bids in ETH.
In accordance with ConstitutionDAO, it’s the first DAO that Sotheby’s has ever labored with and doubtlessly the biggest crowdfund for a bodily object they’re conscious of.
When the public sale unfolded, the worth of the Constitution was bid up all the best way to $43 million earlier than the DAO gave up out of concern that they wouldn’t have funds left over for correct care and upkeep of the doc.
Says ConstitutionDAO,
“Whereas this wasn’t the end result we hoped for, we nonetheless made historical past tonight with ConstitutionDAO. That is the biggest crowdfund for a bodily object that we’re conscious of – crypto or fiat. We’re so extremely grateful to have carried out this along with you all and are nonetheless in shock that we even received this far.”
Shortly after ConstitutionDAO was in the end outbid for the relic, it was revealed that the winner of the public sale was billionaire Ken Griffin, CEO of hedge fund and monetary providers agency Citadel. Griffin reportedly plans on lending the historic doc to museums, beginning with the Crystal Bridges Museum of American Artwork in Bentonville, Arkansas.
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