VANEK SMITH: ...At the top of the show, I played you some auction tape - right? - from Sotheby's. A copy of the Constitution, very rare original copy of the Constitution went to auction. And this group of crypto investors kind of pooled their money and came really close to owning a copy of the Constitution. So they formed something called a DAO, which is a decentralized autonomous organization. WOODS: OK, sounds ominous. VANEK SMITH: It sounds ominous. At first, I got really excited because I thought it was like a time share. WOODS: (Laughter). VANEK SMITH: And I was very excited at the idea of a time share purchasing the Constitution. It's not quite that. It's basically like a collective bank account where a bunch of people can kind of anonymously pool their money. When you put money into a DAO, you get a little governance token, they call it, so that you can be part of a little voting body. You can kind of decide what you want to do with the Constitution. More than 15,000 people pooled their money - around $40 million in all - and they made a bid for the Constitution. And it kind of seemed like it was going to be a lot because $40 million is just a lot of money, and it sort of started to seem like this - it was going to be this Nicolas Cage-style movie where, you know, like, the crypto collective gets the Constitution. Ultimately, they did not get it. They were outbid. But it's a really interesting idea - this, like, DAO collective. But this did not happen. Fiat currency won the day. In fact, the Constitution was ultimately purchased by this hedge fund CEO. But anyway, cryptocurrency is coming for us all. They came really, really close to buying the Constitution. WOODS: Yeah. I mean, what will they buy next? I mean, what's after that? VANEK SMITH: Well, I have an answer to that, too, Darian - the Staples Center. So... (LAUGHTER) WOODS: Right. VANEK SMITH: That's my other indicator of the week - $700 million. You know the Staples Center in Los Angeles where the Lakers play? It is now, as of next month, going to be called the Crypto.com Arena. WOODS: Rolls off the tongue. VANEK SMITH: It rolls off the tongue. It's like one of the largest naming rights deals in sports history, if not the largest. So cryptocurrency has now purchased the Staples Center. WOODS: OK. Is this the week that crypto went mainstream, do you think? VANEK SMITH: I don't think it's quite mainstream yet. I don't think most people own cryptocurrency. WOODS: Yeah. VANEK SMITH: But cryptocurrency owns us (laughter). Maybe that's...
A mainstream NPR podcast briefly discusses DAOs in the context of the bid from "ConstitutionDAO" to bid on and purchase an authentic copy of the US Constitution via Sotheby's. Amusingly, her description repeats the word "little", like "little governance token" and "little voting body".