Background: For the first time in 33 years, one of the 13 surviving copies of the US Constitution will be auctioned off. Yep, we're talkin' the real deal from 1787. It's one of two copies still owned by private collectors.

What happened: In comes ConstitutionDAO. A crypto association (of sorts) with 13 Twitter accounts listed on its site as organisers.

What else: This crew are gathering coin to buy the Constitution. As of last night, the group had gathered around US$39 million worth of Ethereum. Whoever buys it won't receive ownership of the Constitution, but rather voting rights on what happens with it (like where it will be displayed).

So what's the key learning?

💡DAOs are decentralised autonomous organisations, and they're part of Web3 - aka, the idea of a decentralised internet as the next phase of the web.

💡If you think about the internet in stages:

• Web1 is like the period between 1991 and 2004, where internet users were just consuming content.
• Web2 is what most of us know today, which is more about the web as a platform for creating and storing data
• Web3 is the idea of taking data out of the hands of Big Tech (i.e. Google and Facebook) and putting on public blockchains (aka decentralising it).

💡Web3 is all about new kinds of money and ownership...so you can think of DAOs as a new kind of anonymous, crypto GoFundMe, where people get "governance tokens" in return for donations.