Let’s just hope it brings more wisdom, too.

A DAO is a “Decentralized Autonomous Organization” that should empower its members, without any central governance body, to “make decisions in a bottoms-up management approach”.

The basic concept has substance, and generally speaking new forms of online governance for distributed communities of independent peers are needed. Being in their infancy, however, DAOs can fail embarrassingly, as it happened recently with the U.S. Constitution.

In November 2021, a community of “crypto investors” formed just with, and around a DAO, tried and failed to buy a copy of the U.S. Constitution, with the only result of descending into chaos, because:

• “roughly half of the donors would have the majority of their investment wiped out by cryptocurrency fees”
• disagreements broke out over the future of ConstitutionDAO, the original purpose of the more than $40 million crowdfunding campaign, and “what will happen to the $PEOPLE token that donors were given in exchange for their contributions”

(If ConstitutionDAO had won the bid, those $PEOPLE tokens would be used for voting on what would happen to the Constitution).

Please do study, and learn from all the sadly hilarious details of a mess that apparently left everybody involved “Very Mad, Confused, Losing Lots of Money, Fighting, Crying, Etc.." in the Vice chronicle of the ‘Buy the Constitution’ Aftermath.