PEOPLE Coin is the primary utility token used in the ConstitutionDAO ecosystem. At the time of writing this article this crypto coin has a price of $0.02546 USD and is ranked 149th.
To help you learn more about what is ConstitutionDAO (PEOPLE) Cryptocurrency. You can check the discussion in the following article.
What is ConstitutionDAO (PEOPLE) Cryptocurrency?
ConstitutionDAO is a movement of a group of people who are fundraising to buy a copy of the first edition of the US constitution. It is worth noting that there are currently only 13 original physical copies of the US Constitution available and some of them are sold in auctions. These auctions trigger competitive bidding. Although ConstitutionDAO raised more than $40 million in ETH, it eventually fell short and was defeated by Ken Griffin, a hedge fund manager and CEO of Citadel.
The failure eventually led to the DAO community being disbanded for failing to purchase a copy of the first edition of the US constitution. All forms of donation funds that have been collected previously will also be returned.
Founders of ConstitutionDAO
ConstitutionDAO doesn’t actually have a single source of origin, but can be seen as an evolution of the grassroots fundraising movement that led to the rise of meme coins like Dogecoin and Shiba Inu. The DAO raised over $47 million from 17,000+ donors in just a few days, with an average donation size of $206. It also sparked a viral Twitter movement that cheered the DAO’s efforts with memes. The DAO’s main contributors were Brian Wagner and Liminal Warmth.
What Makes ConstitutionDAO Unique?
Similar to what happened with GameStop, Constitution DAO channeled the virtual power of the masses to narrowly miss making real-world history.
The DAO published its first tweet on November 12, just six days before the Sotheby’s auction on November 18. The copy of Constitution was the last remaining privately owned copy, and for the first time a copy of Constitution went on sale in 33 years. . Within hours, the DAO Discord server grew by several thousand people and eventually reached 20,000 members in less than a week.
Relying on a mix of Nicolas Cage memes, inspired by the movie in which Cage tried to steal the Constitution, and crypto-specific (x,x) memes first popularized by Olympus (OHM), the effort quickly went viral on Crypto Twitter.
The DAO used Juicebox to accept donations in Ether and raised an amount north of $47 million, which would have easily been enough to win the auction, if not for the auction house fees and storage fees for documents not accounted for by the DAO.
Ironically, Ken Griffin, a Bitcoin opponent, won the auction. In the aftermath of this story, ConstitutionDAO announced that it would disband as planned if it failed from the start. It cited technical and administrative requirements as the reason for doing so, and donations can be reclaimed for an indefinite period of time through the project’s website.
What is PEOPLE Coin?
PEOPLE Coin is a utility token that represents a part of ConstitutionDAO. As the ConstitutionDAO project has ceased and disbanded, this token has no use case anymore. PEOPLE tokens are currently out of print and holders can convert these tokens into ETH Coin at a ratio of 1,000,000: 1. So every 1,000,000 PEOPLE equals 1 ETH.
How much is PEOPLE Coin worth?
At the time of writing, the price of the PEOPLE coin is $0.025356 USD. This cryptocurrency asset is ranked 149th with a market capitalization of $128,306,943 USD. based on data obtained from the CoinMarketCap website. Currently there are 5,060,137,335 PEOPLE coins in circulation and have a maximum supply of supply which is limited to 5,060,137,334 coins only.
Where to Buy ConstitutionDAO (PEOPLE) Cryptocurrency?
If you are interested in buying ConstitutionDAO (PEOPLE) tokens, you can buy them on some popular exchanges such as :
That’s all for this article which contains a discussion of what PEOPLE Coin from ConstitutionDAO is. If you need more information, you can visit some of the following links:
– Website: https://www.constitutiondao.com/
– Twitter: https://twitter.com/constitutiondao
– Discord: https://discord.com/invite/p2jdESeVfy