ConstitutionDAO

ConstitutionDAO was a one-time decentralized autonomous organization (DAO) launched in November 2021 to purchase a rare original copy of the US Constitution in a Sotheby’s auction. The project raised over $47 million worth of Ether from thousands of contributors in just a few days. It uses blockchain for transparent, decentralized decision-making, with the PEOPLE token giving holders voting rights.

ConstitutionDAO (PEOPLE) was formed in November 2021 by some Web3 enthusiasts with the stated goal of buying a copy of the US Constitution at a Sotheby’s auction.

• PEOPLE token: The PEOPLE token functions primarily as a community-driven meme coin. Users can buy, sell, or hold it on crypto exchanges, like other cryptos.

• Historical significance: ConstitutionDAO’s origins mark one of the most famous decentralized crowdfunding campaigns in crypto history.

• Memecoin appeal: ConstitutionDAO’s PEOPLE token transitioned into a community-driven meme token, which helps sustain long-term interest in the crypto market.

• Community-driven: The project operated as a fully DAO, and despite its original mission ending, its community continues to support the PEOPLE token.

PEOPLE is an interesting case in the crypto world as it started with the stated mission to buy one of the last remaining original copies of the US Constitution at a Sotheby’s auction. Although the DAO ultimately lost the bid, the event became a milestone in Web3 history. After the auction, the original purpose of the token disappeared, and no formal roadmap was introduced, meaning PEOPLE has no inherent utility, staking system, or development plans. Despite this, PEOPLE has developed a cult-like following as a meme coin with historical significance. Its value now comes mainly from community sentiment and speculative trading, rather than tangible use cases. 

You can buy PEOPLE from crypto platforms like CoinSwitch.

• PEOPLE can be bought and traded on crypto platforms like CoinSwitch. 

• Even though the DAO is dissolved, the PEOPLE token can be used for governance-related experiments in the future.

• ConstitutionDAO promotes transparent operations through blockchain technology.

• ConstitutionDAO is backed by a strong community with global participation.

• PEOPLE continues to trade actively despite the DAO’s original mission ending.

• PEOPLE is subject to market volatility like all cryptos.

• The platform has no ongoing structured roadmap or development plans.

• The governance activity on ConstitutionDAO has decreased since the initial campaign.

• Start investing in PEOPLE with just ₹100.

• CoinSwitch provides a seamless and intuitive trading experience for users.

• Easily manage your transactions and portfolio on the app.

ConstitutionDAO conducted its public token sale on November 18, 2021, raising approximately $22 million by offering 5.06 billion PEOPLE tokens, accounting for about 97.2% of the total token supply. Shortly after, the Token Generation Event (TGE) occurred on November 19, 2021, launching the token at a listing price of about $0.0039. Following that, a small IEO took place on Gate.io on November 27, 2021, raising around $61,700 by distributing 1.25 million PEOPLE tokens.