© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2022
T. TaulliHow to Create a Web3 Startuphttps://doi.org/10.1007/978-1-4842-8683-8_5

5. Decentralized Autonomous Organizations (DAOs)

Governance for Web3
Tom Taulli1  
(1)
Monrovia, CA, USA
 

In November 2021, Sotheby’s auctioned a first edition copy of the US Constitution (there are only 13 in existence). As usual, there were various wealthy bidders who participated. But interestingly enough, there was a Web3 entity that entered the fray.

It was called ConstitutionDAO. As the name implied, it used a Decentralized Autonomous Organization (DAO) for its entity. This allowed it to raise money to make a bid from many people for the US Constitution.

The ConstitutionDAO

Get How to Create a Web3 Startup: A Guide for Tomorrow’s Breakout Companies now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.