Crypto Fans Fail to Buy U.S. Constitution, Now Eye NBA Team

Thousands of cryptocurrency investors recently attempted to purchase a rare first edition copy of the US Constitution by raising $47 million in ether, but fell short at a Sotheby's auction. Meanwhile, another group of crypto enthusiasts is gathering momentum to acquire an NBA franchise. This decentralized autonomous organization of 2000 members managed to raise $4 million in Ethereum in just six days. However, as NPR notes, this effort is far from sufficient to make a credible bid for even the least valuable NBA team, and convincing the NBA to accept a collectively controlled crypto investment remains a significant challenge.

What was the amount raised in Ethereum by the group in six days?

Why is the idea of collectively controlled crypto investment in the NBA considered a tall order?