To purchase an early copy of the US Constitution, a cryptocurrency group raises almost $40 million.

A gang of "online buddies" looking to purchase the important document is called ConstitutionDAO.

To raise money for a successful bid on an early copy of the US Constitution, a crypto organization has been utilizing the image of a Nicolas Cage-like treasure hunter. $20 million was the initial fundraising target. In less than a week, the organization known as ConstitutionDAO has raised more money than it had anticipated.

On November 18, an unique copy of the Constitution will be auctioned off. The copy is expected to sell for between $15 million and $20 million, according to the auctioneer Sotheby's. The official first edition of this copy of the Constitution, according to Sotheby's, is even uncommon than the initial printing of the Declaration of Independence.

ConstitutionDAO is a company that was specifically established to raise money from the public in order to successfully bid for the constitution. The money is coming via ether, a cryptocurrency that utilizes the Ethereum blockchain. The amount raised by ConstitutionDAO to date exceeds $40 million.

In a blockchain setting, a DAO, or decentralized autonomous organization, is a protocol that functions as a collection of automated rules. If the DAO makes a winning offer at Thursday's auction, people may purchase tokens from the ConstitutionDAO that have "governance" over what happens to the constitutional copy.

Governance, according to ConstitutionDAO, "includes the capacity to advise on (for illustrative purposes) where and how the Constitution should be displayed, as well as the goal and values of ConstitutionDAO."

According to Sotheby's, there are just 13 official copies of the US Constitution still in existence. Property developer S. Howard Goldman paid $165,000 buying the copy from Sotheby's in 1988. The current owner is Goldman's widow, Dorothy Tapper Goldman. The Dorothy Tapper Goldman Foundation will receive donations from the auction.

Correction, Nov. 16: The number of authentic first editions of the US Constitution that are still in existence was previously stated incorrectly in this article. 13 copies are still in existence.

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