The Complete Story of CityDAO From Formation to 2024 Shutdown
CityDAO Timeline 2021 to 2024
CityDAO became the first DAO to legally own land using Wyoming's pioneering DAO LLC law. From a July 2021 tweet to purchasing 40 acres for approximately $100,000, raising $8.5 million from 5,000+ citizens, and ultimately voting to wind down operations in May 2024 with $3.076 million returned to 4,808 addresses. This timeline documents every phase of the project.
Complete Chronological Timeline
July 2021: Formation
July 1: Scott Fitsimones tweeted "Starting a DAO to buy and tokenize land in Wyoming, who wants in?" This single tweet started the project.
July 1: Wyoming's DAO LLC law took effect, allowing DAOs to be recognized as legal entities capable of owning physical assets.
July 7: First community call held with initial members.
July 15: Discord community crossed 1,000 members.
July 23: CityDAO officially registered as an LLC in Wyoming.
August 2021: Initial Funding
August 8: First Citizen NFT sold to Justin Kalland for 6.52 ETH. This NFT granted the right to name the first parcel.
August 11: Released 50 Founding Citizen NFTs with a 10 ETH floor price.
August 12: Treasury passed $30,000.
August 20: Treasury passed $100,000.
August 25: Treasury reached $250,000. Connected with Wyoming real estate agent.
September 2021: Land Selection
September 8: CityDAO forum launched for governance discussions.
September 15: Development team demonstrated the parcel viewer tool.
September 21: Citizens voted on first parcel purchase.
September 27: Citizens voted to make an offer on 40 acres off Hail Basin Road west of Clark, Wyoming.
September 28: Offer made and accepted.
October 2021: Land Purchase and Growth
October 6: Vitalik Buterin visited CityDAO Discord to ask questions about the project.
October 7: Team members planted CityDAO flag on the chosen parcel.
October 29: Official land purchase completed. The 40-acre Parcel 0 purchased for approximately $100,000.
November 2021: Peak Attention
November 1: Public announcement of land ownership. CityDAO became first DAO to own land using Wyoming DAO LLC law.
November: Vitalik Buterin, Mark Cuban, Anthony Pompliano, and Balaji Srinivasan purchased Citizenship NFTs.
November 15: Treasury reached $8.5 million peak value.
November: OpenSea reinstated CityDAO Citizenship NFTs after initially delisting them.
December 2021: Infrastructure Development
December: Integrated Chainlink VRF for random selection of 950 Parcel 0 NFT plots.
December: Proposed forming CityDAO Council to ratify Charter and Operating Agreement.
January 2022: Governance Foundation
January: Created CityDAO Public Affairs Guild.
January: Phishing scam impacted Discord server, security measures improved.
January 17: Began candidate election pitches for Council positions.
January: Held council elections, 20 members elected.
February 2022: Public Presence
February 19: Scott Fitsimones spoke at EthDenver about building a city on blockchain.
February 22: Launched CityDAO podcast hosted by citizen memebrains.
March 2022: Charter Completion
March 9: CityDAO Council completed the 25-page Charter after extensive deliberation.
March 23: Posted CIP-43 proposal for Parcel 0 direct drop to citizens.
March 25: Began brainstorming for Parcel 1 acquisition.
March 31: Posted bundled Guild Proposal establishing various working groups.
April 2022: Expanding Partnerships
April 14: Released interview podcast with Wyoming Senator Chris Rothfuss discussing DAO legislation.
May 2022: Parcel 0 NFT Launch
May 4: Announced Parcel 0 NFT drop details. Land subdivided into 950 plots.
May: Approved CIP-48 switching from one-token-one-vote to quadratic voting system.
May: Parcel 0 NFTs minted, each representing symbolic geographic coordinates and usage rights.
June 2022: Strategic Direction
June 15: Announced $40,000 grant program for aligned projects.
June 21: Announced mission statement and key metric: Citizen Time at CityDAO Property.
June: Partnered with Nemus for Amazon Rainforest conservation, purchased XXL parcel.
July 2022: Tools and Expansion
July 15: Revealed Parcel 0 viewer application with 3D map interface.
July 28: Featured in TED Talk by Scott Fitsimones.
July 30: Approved Baby Parcel and Big Parcel project types.
August 2022: Grant Recipients
August 11: Announced grant program winners: Blocksoc, NiceNode, and CityDATA.
August 30: Approved Network City CIP for acquiring non-contiguous land network.
September 2022: Academic Conference
September 3-4: Held first academic virtual conference on DAOs, governance, and Web3.
October 2022: Physical Hub
October: Approved DAOLabs proposal. $230,000 allocated for one-year lease in Denver as Web3 innovation hub.
November 2022: Rebranding
November: Rebranded Big Parcel Project as "town" - an IRL hub for DAOs and Web3 organizations.
December 2022: Planning
December 14: Twitter Spaces discussion on developing IRL hub infrastructure.
January 2023: Operational Gaps
January: Community team went unpaid due to funding continuation issues.
January: Back-office functions performed without compensation.
January: Discord activity dropped during inactive period.
February 2023: Community Support
February 6: Major earthquake hit Turkey-Syria region.
February: Announced NFT lease competition for Blanca, Colorado property.
February: Donated $9,000 USDC to Turkey relief effort.
March 2023: Governance Debates
March 3: Posted discussion on switching from direct democracy to representative democracy.
March: CityDAO team participated in EthDenver 2023.
March: Harberger NFT marketplace project placed top 3 in DAOs category, top 15 overall at EthDenver.
March 15: Community team resumed operations after funding gap resolved.
April 2023: International Expansion
April: Proposed acquiring house in Turkey for citizens and blockchain communities. Phase 1 budget: $3,000.
May 2024: Wind Down Decision
May: CIP 212 proposed to wind down DAO operations.
May: Citizens voted with 92.64% approval to close operations and return funds.
May: Founders authorized to withdraw from multi-signature wallet, close bank accounts and social media.
June 2024: Refund Process
June 7: Refund inquiry opened for eligible citizens.
June: Total refundable amount: $3.076 million distributed to 4,808 addresses.
Treasury Evolution Over Time
Data: Blockchain records and public treasury reports
Key Milestones by Month
Data: CityDAO public records, Discord announcements, governance votes 2021-2024
Governance Phases
| Phase | Period | Structure | Key Achievement |
|---|---|---|---|
| Core Team | Jul-Dec 2021 | Founder-led | Land purchased in 4 months |
| Council | Jan-Mar 2022 | 20 elected members | Charter ratified March 9 |
| Guilds | Apr-Jul 2022 | 12 specialized groups | Parcel 0 NFT drop May |
| Projects | Aug 2022-2023 | Individual teams | $40k grants distributed |
| Wind Down | May 2024 | Final vote | 92.64% approved closure |
Data: CityDAO governance records and CIP proposals
Major Dates Reference
| Date | Event | Significance |
|---|---|---|
| July 1, 2021 | Founding tweet | Project inception |
| July 23, 2021 | LLC registration | Legal entity established |
| August 8, 2021 | First Citizen NFT | Sold for 6.52 ETH |
| October 29, 2021 | Land purchase | 40 acres for ~$100k |
| November 15, 2021 | Peak treasury | $8.5 million |
| March 9, 2022 | Charter completion | Governance foundation |
| May 2022 | Parcel 0 NFTs | 950 plots minted |
| August 11, 2022 | Grants awarded | $40k to 3 projects |
| May 2024 | CIP 212 passed | Wind down approved |
| June 2024 | Refunds opened | $3.076M to 4,808 addresses |
Data: Verified from multiple primary sources including blockchain, CityDAO records, media reports
Frequently Asked Questions
When was CityDAO founded?
July 1, 2021, when Scott Fitsimones tweeted about starting a DAO to buy land in Wyoming. The LLC was officially registered on July 23, 2021.
When did CityDAO purchase land?
October 29, 2021. The transaction took four months from the founding tweet to completed purchase.
How much did the land cost?
Approximately $100,000 for 40 acres off Hail Basin Road west of Clark, Wyoming. The property included a well for water.
When did the treasury peak?
November 15, 2021, reaching $8.5 million. This coincided with high-profile citizens like Vitalik Buterin purchasing NFTs.
When was the Parcel 0 NFT drop?
May 2022. The 40-acre parcel was subdivided into 950 NFT plots with symbolic geographic coordinates.
When did CityDAO shut down?
May 2024, when CIP 212 passed with 92.64% approval. Refunds opened in June 2024, distributing $3.076 million to 4,808 addresses.
What happened to the Wyoming land?
The 40-acre Parcel 0 remains under CityDAO LLC ownership. Future disposition is unclear following operational wind-down.
How long did CityDAO operate?
Almost exactly three years, from July 2021 to June 2024, spanning the project's complete lifecycle from founding to final refunds.
What was the fastest achievement?
Going from tweet to land purchase took only four months (July 1 to October 29, 2021), demonstrating rapid execution under founder-led governance.
Where can I learn more about CityDAO?
The Belfer Center case study provides comprehensive analysis. Visit comprehensive list of DAOs for similar projects and DAO tools guide for governance resources.
Timeline Sources
Belfer Center - "Deep-Dive Into CityDAO" case study (June 2023)
CityDAO Mirror - Official community roundups (2021-2023)
CityDAO Forum - CIP proposals and governance discussions
Binance - Refund inquiry announcement (June 2024)
Cowboy State Daily - Land purchase verification (May 2023)
Wyoming Public Media - DAO LLC registration coverage (November 2021, January 2022)
Ethereum blockchain - NFT sales and treasury records
OpenSea - Citizenship and Parcel 0 NFT collection data
CoinDesk - "What's Holding DAOs Back" by Scott Fitsimones (January 2023)
Vice - Land purchase announcement coverage (November 2021)