Crypto bid to buy US constitution copy at auction fails
Walk out on the street with a copy of the constitution under your arm. And where they're going to end up displaying it, quoting The Wall Street Journal. The consortium whose members work at social media companies have founded apps and buy crypto and NFTs regularly don't have much experience buying objects at traditional auctions. The constitution is not a security said Brian Wagner, one of a few dozen core organizers of the group. We actually had to figure that out, which is hilarious, said Miguel piedrafita, a 19 year old organizer who works at an NFT social media company and lives in Spain. The group's organizers have been consulting legal historical and auction experts to smooth out some of the challenges of crowdfunding with new technology to purchase a centuries old artifact. It's a document mister Wagner said, a lot of the complexity is related to the fact that it's not on the blockchain. A data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. There are no returns on investment here, either. Contributors who can remain anonymous won't make a cent if the group wins the auction, and no one person will own the physical copy. Instead, taking an anti establishment posture that might have been familiar to America's founding fathers as well as crypto enthusiasts. The group agreed to get the document out of millionaires art collections and back into the hands of the people, according to organizers. Everyone got into it for different reasons, but everyone was really inspired by how we can collectively determine the fate of and govern where this document goes, how it's displayed, said mister Wagner, age 30.