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Thursday, January 27, 2022

ConstitutionDAO Proves That The Crypto-Society Is A Force To Reckon With

The crypto society proved its ability to join forces for a worthy cause, collect funds, and organize political support last year. The sociological prospect of Bitcoin is the primary selling point of the cryptocurrency movement from its inception.

The decentralized architecture of new crypto-based procedures opens the door of bringing people together to function towards common goals. It also allows them to join resources while staying immune to outside influence. In 2021, various incidents may be used to demonstrate the emancipatory capacity of digital acquisitions.

ConstitutionDAO Raised $49 million

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ConstitutionDAO was debatably one of the best examples of a big fundraising endeavor allowed by a decentralized independent association in 2021. The club was founded in Nov with the express goal of obtaining an original replica of the US Constitution that was up for sale at Sotheby’s.

The DAO came extremely close to achieving its aim. The relic was bought for $43.2M. DAO was able to gather almost $47M in Ether. Sotheby’s eventually limited the DAO’s offer to $43M to account for tariffs and the expenses of protecting, insuring, and moving the Constitution.

ConstitutionDAO gave complete refunds to everybody who donated after the auction. Those that refused rebates were allowed to keep PEOPLE gov tokens they obtained in return for their donation.

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ConstitutionDAO stated that while the outcome was not what they had hoped for, they had nevertheless made history. It’s difficult to dispute that, given that the money was collected from more than 17000 supporters in less than a week.

The BlockbusterDAO founders stated in Dec 2021 that they founded a unique decentralized independent organization to purchase back Blockbuster. Blockbuster is an American firm that began as a videotape rental service. Blockbuster has 6,000 locations worldwide. It was appreciated at more than $8 billion at its height. In 2014, it closed virtually all its outlets and now just has one outlet in Oregon. This project is not likely to be completely set until 2022, strictly speaking.

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