A decentralized autonomous organization (DAO) with over 13,000 people are bidding at auction on November 18th for the last privately held US Constitution in the world. At the time of writing they have raised over $25mm (5,975 Ethereum), exceeding their original target of $20mm.
“What if we held hands and bought the Constitution together?”
Context: In 1787, there were 500 original US Constitutions, and only 13/500 currently remain. Of those 13, only a single copy is privately owned, and it’s being auctioned on November 18th at 6:30pm EST for an estimated $15-20mm.
- In a few short days, a DAO formed that now consists of many thousands of crypto contributors who are using a multisig crypto wallet fund via Juicebox (a community Ethereum funding platform) to bid for the piece at the Sotheby’s auction later today.
- Especially on Twitter and Discord, crypto contributors have built a fanatic community, adding (📜, 📜) to the end of their names to convey participation in the fund, making memes, and creating trending hashtags like #wgbtc (we’re gonna buy the Constitution).
How does this all work? Upon successful purchase at auction, contributors “are receiving a governance token, not fractionalized ownership. Governance includes the ability to advise on (for illustrative purposes) where the Constitution should be displayed, how it should be exhibited, and the mission and values of ConstitutionDAO.”
This social experiment is the first of its kind at this large of a scale, and the speed at which trends are going viral is a big flex of what Web 3 is capable of. If successful, the transaction will prove to be a philosophical shift in the exchange of physical and digital goods, assets, and theoretical ownership.
There was a time when physical currency was used only to purchase physical goods (e.g. $1 cash got you a hot coffee). Until recently it wasn’t widely accepted that digital currency (crypto) could purchase digital goods (NFTs).
- This tweet puts it well into words: “Today I used “real” currency converted to virtual currency to help fund a virtual group comprised of real people orchestrating a virtual campaign to try to buy a real copy of the U.S. Constitution.”
This event will mark a shift in history when digital goods, in a digital, virtual, autonomous community (DAO), began having purchasing power of important, physical goods.
For the Christian
Web 3, and all that it means for decentralized digital spaces, is increasing in traction faster than any technology ever has before. People are diving in head first and inventing products, services, and communities that 10 years ago were considered science fiction.
- If churches brush these technological developments under the rug, there might soon come a time that your evangelistic prowess to the common person has a larger cultural gap than ever before in human history.
Here are three things you should start doing now to avoid falling behind.
1. Identify someone in your church or community who is a tech expert and go grab a coffee with them. Tech expert, in this sense, doesn’t just mean they know how to make a TikTok. It means they’re in the know about Web 3 development, trending stories, and how the internet has evolved over the last 2 years, and how it will likely continue evolving in the next 5 years. Brainstorm with them about how your church can stay on the frontline, in the midst of these changes in tech, so you’re still innovative and cutting edge in 5 years.
2. Pull the trigger on everything Web 2. That means if you don’t already have a website, social media presence, digital giving solution, church app, etc. then you’re already way, way behind. That’s Web 2 stuff. The world is already past that. Don’t get stuck there.
3. Stop saying “that’s just a trend” to things like cryptocurrencies, NFTs, or this story. The surest way to fall on deaf ears to GenZ and the generation after them is to be close minded to the world they’re already living in every day.