ConstitutionDAO was an investment-focused decentralized autonomous organization. The community initially raised funds to bid on one of 13 copies of the U.S. constitution at a November 2021 Sotheby's auction. ConstitutionDAO's native token, PEOPLE, represented a share of the communally raised funds. Having lost the auction — the DAO reportedly did not raise enough to maintain the historic document after purchase — ConstitutionDAO offered members either a refund or to swap their PEOPLE tokens at a 1:1 rate for a new ETH-backed governance token called We The People, or WTP. The community has since started to vote on how to spend its WTP treasury, with ideas including buying the Bill of Rights and writing its own Web 3.0 constitution.