We Almost Bought The Constitution

Constitution DAO raised more than $40M in a week. Not bad.

The objective — purchase one of the original thirteen copies of the US Constitution. 

The DAO was unable to deliver as it sold to Citadel CEO Ken Griffin for $43.2M. Maybe he did it for the memes.

Members of the DAO can redeem their contributions, then the decentralized organization will decide how to allocate any remaining funds. 

While the bid was unsuccessful, here are a few takeaways —

  1. The bid serves as a catalyst for the DAO structure. It raises awareness and accelerates the adoption of this new way of organizing decentralized business.
  2. Making the total raise and maximum bid public was not a sound strategy. Great bidders maintain the poker face. It’s just game theory.
  3. What’s the next DAO to capture public imagination? Because the next one might be bigger and smarter…

Here’s a great read from CNBC, here’s the DAO’s statement after the auction, and here’s a primer on what a DAO is.

? Crypto Comes To The City of Angels

Crypto is coming to the City of Angels. 

The Staples Center will be redubbed Crypto.com Arena on Christmas Day.

This name change of the home to the LA Lakers et al is the fruit of a sponsorship deal worth $700M cash.

Pundits everywhere are reading this and crying bubble, which begs the question,

“What does it mean when everyone cries bubble?”

We have no idea. Nobody knows. Call it Schrödinger’s Bubble.

Here’s more on the Crypto.com Arena from The Block.

? A Gamer’s Paradise

The metaverse is a gamer’s paradise. 

This week, Nike and Roblox teamed up to create, NIKELAND, their rendering of the metaverse.

The digital world was inspired by Nike’s IRL headquarters and is free for everyone. 

Nike shared, 

Dream it. Make it. Play it. 

Read more from Nike here and jump into NIKELAND on Roblox here. 

We must say, NIKELAND has us reminiscing about ESPNU College Town.

⛓ Polkadot Parachain Slot Auction

Acala, a Polkadot-based DeFi network, raised $1.3B from 81,000 wallets to win Polkadot’s first parachain slot auction.

The first 5 Polkadot parachains will go live simultaneously on December 17. 

Here’s Coindesk with details. 

And in case you missed it — here’s the latest Polkadot Brand Update. 

? ALGO & AUDIO Ripped then Dipped ?

Early Thursday morning, Algorand and AUDIO (the native token to the decentralized streaming platform Audius) ripped then dipped after South Korean exchange Upbit listed the two tokens for trading.

The wicks are wild. Check out the 4-hour candlestick charts below:

Here’s the International Business Times with details.

? Listen to This

Here are a few great podcasts as we approach the brief holiday week —

Balaji Srinivasan recently spoke with Tim Ferris on Bitcoin, The Great Awokening, Reputational Civil War and more. It’s great.

Larry Cermak VP of Research at The Block talked with Tristan Yver of FTX. Here’s a great clip — The crypto outlook vs traditional finance.

Kyla Scanlon joined Jim O’Shaughnessy on the Infinite Loops podcast to discuss When Financial Education Meets Entertainment. 

? NFL NFT Tickets

The National Football League is offering Virtual Commemorative Tickets NFTs for the remainder of the season. 

The NFL teamed up with Ticketmaster and Polygon to facilitate the test and will “gauge consumer reaction” for future endeavors. 

Here’s the list of eligible games and here’s a link to the press release. 

We love to see legacy institutions waltzing into Web3. 

?? A Cozy Chilean Cabin

Check out this cozy cabin in central Chile. 

The chalet sits near Corralco ski resort, often the snowiest ski area in Chile. 

Tips up!!

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