LinksDAO, a Web3 community founded with a vision to buy a real-world golf course, announced that it had agreed to do precisely that which it set out to do. It claims to have won the bid to buy Scotland’s Spey Bay Golf Club, an oceanfront 18-hole course.
After winning a bid to purchase the Spey Bay Golf Club in Scotland, initially advertised for a little over $900,000, the decentralized autonomous organization (DAO)-run golf company, LinksDAO, is set to become the new owner of the facility. The DAO has a contract of exclusivity in place with the vendor due to winning the bid, and the two parties want to finalize the sale in the first week of April formally.
LinksDAO, which describes itself as a “global club of golf fans” intending to create the “world’s finest golf community,” submitted the proposal after 4,300 of its members, or 88.6%, voted in favor of doing so in a community poll. The DAO will buy its first golf property if the sale goes through. The more than 100-year-old Spey Bay course was offered with the hope of getting bids exceeding 750,000 GBP, or roughly $910,000, even though the deal’s specific details have yet to be made public. According to GolfDigest, the deal might conclude for more than the advertised amount.
“We’re extremely excited about this development for our membership, greater community, and friends throughout web3 and hope to close on the property within the next month,” LinksDAO CEO Jim Daily said. The acquisition will be funded by an equity investment round and $10.5 million in proceeds the DAO received from the sale of its non-fungible token (NFT) initiative at the beginning of last year. The NFTs were offered at two different price points: 2,727 “global membership” NFTs cost 0.72 ether, or $2,699 each unit, while 6,363 “leisure membership” NFTs cost 0.18 ether or $674 apiece. For example, each tier guaranteed consumers access to events, governance privileges for LinksDAO, and other benefits.
Inside story
After spending months looking at over 90 golf courses, LinksDAO suggested a bid on the 1907-built Spey Bay Golf Club in Scotland’s Moray Coast. Spey Bay Golf Club will be the FIRST—but not the ONLY—course that LinksDAO hopes to buy. They made it apparent that they plan to acquire a property in the US soon. They also intend to increase membership by 100,000 through a regular registration and sign-up process rather than the previous NFT drive.
What is LinksDAO?
LinksDAO is a decentralized autonomous organization of young, tech-savvy golfers from Generation Z and the Millennial generation worldwide. Links CEO Jim Daily, Head of Strategy Adam Besvinick, and Mike Dudas in late 2021 founded the club. In just 15 months, they have generated enough outside funding to pay for this acquisition and possible future ones. It is a first-of-its-kind private golf club.
An NFT pass indicates membership. About 26,000 users, including 5,000 Ethereum NFT access pass holders, are on the DAO’s Discord server. The goal of LinksDAO is to acquire one of the top golf facilities in the world. The project collaborates with top club management and golf course architects to find courses and locations deserving of a great golf experience.
Links used an NFT effort to draw in the first wave of its members. Holders of NFTs, or non-fungible tokens, could apply for membership, which gave them access to a large group of other club members as well as a number of perks and advantages. Just by being a community member, the LinksDAO membership enjoys significant savings, access, and perks from partners like Callaway (ELI), Top Golf, 5i, Holderness & Bourne, William Murray, Ship Sticks, DraftKings, and many more.
These advantages have made LinksDAO membership more valuable than any other digital golf subscription. Members also have voting rights under the NFTs when suggestions like purchasing a specific golf course are made. A simple majority vote is used to make all club decisions.
Links have also put up the LinksDAO Pro Shop with special, customized merchandise in collaboration with Holderness & Bourne, Full Turn, a top manufacturing partner, and Club Glove, among others.
It is also worth mentioning that well-known figures like Jake Owen and Steph Curry of the Golden State Warriors own a LinksDAO NFT. The LinksDAO project shows the speed and scale of Web3 technologies and applications and the power of people organizing behind common goals.
What’s next for LinksDAO?
The future is bright for LinksDAO with a clear roadmap, especially with investors like Steph Curry, whose investment in this emerging project caused the value of memberships to soar once the announcement surfaced. Maintaining this early momentum, upholding their growing community, and buying actual, tangible real estate chosen by their members and bringing it into the metaverse is a first for Golf, exciting those committed to the game’s present and future.
The LinksDAO NFT Pass floor price sits at 0.4097 ETH. The ability to give members access to internationally recognized golf courses—which the majority of golfers can only dream of playing—is one of the cornerstones of Links’ goal. Moving on, Links has many exciting events for its members in 2023. You can find more details about that here.
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