What DAOs are and what they might buy next

The scene: Sotheby’s auction house in Manhattan. Auctioneer Quig Bruning is poised at the lectern before a packed house. Bidding is set to commence at $20 million.

The object in question: A rare, first printing of the U.S. Constitution, one of 13 surviving copies, made for delegates to the Constitutional Convention and Continental Congress.

After a brief introduction the bearded auctioneer commences, and what happens next is straight out of Hollywood: Escalating million-dollar bids phoned in…


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