People Coin – ConstitutionDAO is a famous project after one of the largest community funding calls to date, raising $47 million in just four days. But specifically, what is PEOPLE coin, what is the purpose of ConstitutionDAO, and should you invest in PEOPLE coin? Let’s find out more in the detailed content of the article below.
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What is PEOPLE coin, should you invest in it?
What is PEOPLE coin?
PEOPLE coin is the cryptocurrency of ConstitutionDAO, a project that became a phenomenon by calling the community to contribute funds to jointly bid for a copy of the U.S. Constitution. Those who contributed funds would jointly own this copy of the Constitution.
*** U.S. Constitution Copy: The U.S. Constitution was signed by the founders of the United States in 1787. There are only 13 original copies of the U.S. Constitution, of which only one is in private hands, auctioned by Sotheby’s ***
Initially, Sotheby’s estimated the value of this copy at about $15 – 20 million, and it was known to be the only copy that could be privately owned.
ConstitutionDAO was created to raise funds to bid for the U.S. Constitution copy and share its ownership. In just 4 days, they raised over $47 million from more than 17,000 contributors.
Contributors would receive PEOPLE tokens, with the conversion rate:
- 1 ETH = 1,000,000 PEOPLE (1 million).
The ConstitutionDAO community agreed that contributors could later use PEOPLE tokens to participate in managing the U.S. Constitution copy.
Some information about PEOPLE token:
- Token Name: ConstitutionDAO
- Ticker: PEOPLE
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contracts: 0x7a58c0be72be218b41c608b7fe7c5bb630736c71
- Circulating Supply: 5,066,668,921
Many believed that ConstitutionDAO would win the auction, so they rushed to contribute. However, on November 19, ConstitutionDAO announced a narrow loss in the auction. As there was no longer a reason to operate, they announced the closure of the ConstitutionDAO project.
=> Contributors could reclaim their ETH. However, due to high gas fees, many decided to keep their PEOPLE coins. Since then, PEOPLE coin has been known as a speculative asset, and its value skyrocketed shortly after.
ConstitutionDAO – What makes PEOPLE coin stand out?
What is PEOPLE coin? It can be seen as a community project, empowering the community. It’s clear that such DAO projects are currently a trend in the cryptocurrency market.
With ConstitutionDAO, the idea to create it was also very unique and interesting, attracting many strangers to form a community with a common mission.
In the crypto market, there are some DAOs like Yield Guild Game, Ventures DAO, etc. But ConstitutionDAO is different because its mission is not in the cryptocurrency world, but in the real world.
The importance of the community in a project cannot be denied. This was shown by the community of Dogecoin. Originally created just for fun, Dogecoin now has a huge community and has maintained its market capitalization among the top projects.
Who is behind the PEOPLE coin?
As we know what PEOPLE coin is, ConstitutionDAO is a community collective, so it has no official representative.
However, it is known that one of its Core Devs is Miguel Piedrafita, just 19 years old. Additionally, according to a tweet from ConstitutionDAO, they also emphasized that they are just a group of three guys under the age of 20.
Another noteworthy point is that ConstitutionDAO (PEOPLE) has attracted many famous names for investment, such as: Alameda Research, FTX, Syndicate, Morning Brew, and JuiceBox.
Today’s price of PEOPLE coin
ConstitutionDAO (PEOPLE)
Where to Buy, Sell, and Store PEOPLE Coin?
The PEOPLE token is an ERC-20 token on the Ethereum blockchain, so you can store it in wallets compatible with Ethereum blockchain such as Trust Wallet and Metamask.
Currently, PEOPLE coin is listed on many major exchanges, such as: Binance, Kucoin, OKEx, soon to be listed on Binance, you can trade PEOPLE tokens on Binance, or you can choose exchanges like Kucoin, and OKEx to own PEOPLE tokens.
Should You Invest in PEOPLE Coin?
Even though the ConstitutionDAO project is no longer active, the PEOPLE coin is still well-received by the community, and its trading volume continues to increase daily.
Currently, PEOPLE coin is considered a meme project about coin, with a strong speculative nature.
=> Therefore, PEOPLE coin is only suitable for short-term investments, day trading, and it is important to find a good entry point to be profitable. No one can predict what will happen in the long term, but it’s certain that the risk from PEOPLE coin is very high.
Above are the answers to what PEOPLE coin is and information about ConstitutionDAO. By raising a huge amount of capital in a short time and being managed very reliably, ConstitutionDAO has created great trust among investors. Although it is not active, the PEOPLE coin still exists and is of interest to many investors. Therefore, you can consider investing in it if you want, but remember to only invest a small amount of capital.
