Thanks for the reply. It occurs to me there are also interesting questions here about value. What was it about this item sold in this context which gave it value to DAO participants? Are those factors contributing to value transferable to other items or services offered by or associated with historical items and/or the institutions that steward them? I wonder if this auction somehow tapped into a latent, but common human interest in the "past" as a primary contributor to value, or if the opportunity to beat out the billionaires at their own game drove up the price? It all raises some interesting questions about the history marketplace that we need to understand better.
I think it was the competition to beat out a billionaire at Sothebys and the fact that it was a sacred American text. I doubt a daguerrotype at private auction in Pennsylvania would generate the same response (but i could be wrong!)
Very interesting piece Jason. I wonder how this approach might provide capital for museums or history initiatives as you suggest at the end? Or will the ownership and governance challenges prove too counter cultural for both the capitalists and the humanists?
It's a great question. My sense is that ceding ownership could bring new forms of capital and investment into museums and history institutions. That would pose new governance challenges, but also create new opportunities and innovations.
Great write up!
Thanks for the reply. It occurs to me there are also interesting questions here about value. What was it about this item sold in this context which gave it value to DAO participants? Are those factors contributing to value transferable to other items or services offered by or associated with historical items and/or the institutions that steward them? I wonder if this auction somehow tapped into a latent, but common human interest in the "past" as a primary contributor to value, or if the opportunity to beat out the billionaires at their own game drove up the price? It all raises some interesting questions about the history marketplace that we need to understand better.
I think it was the competition to beat out a billionaire at Sothebys and the fact that it was a sacred American text. I doubt a daguerrotype at private auction in Pennsylvania would generate the same response (but i could be wrong!)
Very interesting piece Jason. I wonder how this approach might provide capital for museums or history initiatives as you suggest at the end? Or will the ownership and governance challenges prove too counter cultural for both the capitalists and the humanists?
It's a great question. My sense is that ceding ownership could bring new forms of capital and investment into museums and history institutions. That would pose new governance challenges, but also create new opportunities and innovations.