The LinksDAO CEO said that the platform aims to build a vibrant community of golf lovers and provide them with a whole new experience for being part of a golf club.
On Thursday, March 16, Web3 community LinksDAO announced the purchase of a real-world golf course by securing the winning bid to acquire Spey Bay Golf Club, an oceanside 18-hole golf course in Scotland.
The Spey Bay golf course is 100 years old and was receiving bids for 750,000 GBP, or nearly $910,000. However, it is unclear as to how much exactly has LinksDAO paid for this. As per the report from GolfDigest, the deal must have closed higher than the list price.
We won the bid.
WE’RE BUYING A GOLF COURSE!!!
— Links (@LinksDAO) March 16, 2023
Launched back in 2021, LinksDAO works as a decentralized autonomous organization (DAO) having an online group of gold fans and enthusiasts. These members have their membership with LinksDAO through an NFT pass.
As per LinksDAO’s Discord server, there are currently over 26,000 members and a total of 5,000 Ethereum NFT access pass holders. LinksDAO co-founder and CEO Jim Daily called this development ideal for the pairing of NFTs and golf. “NFTs [are] your path to the club. So we said, let’s combine those two things,” he said.
As we know, non-fungible tokens are blockchain-based digital assets which can represent digital collectibles and artwork as well as be tied to real-world items, memberships, and perks.
The LinksDAO CEO said that the platform aims to build a vibrant community of golf lovers and provide them with a whole new experience for being part of a golf club. They have already linked wallets holding LinksDAO NFT passes to professional basketball player Steph Curry as well as the firms associated with legendary actor Bill Murray’s NFT project.
By selling their NFTs back in December 2021, LinksDAO raised a total of $10.5 million worth of Ethereum. Besides, they have also raised outside funding. Now, the LinksDAO community is already working to figure out further steps with the acquisition of the Scottish locale. Speaking to crypto publication Decrypt, LinksDAO community manager Cooper Sherwin said:
“We’re deeply appreciative of the history of Spey Bay and all of Scottish golf. The branding may be tweaked with input from the community, but we intend to honor the rich history with all decisions and changes made.”
Just when LinksDAO came into the markets, DAOs were already quite popular. However, LinksDAO took a slightly different approach compared to other market players. “The DAO [members] are not equity owners in the business,” Daily said. “Essentially, the NFT is a membership pass. It gives you voting rights in an advisory capacity.”
However, Daily has acknowledged the challenges faced by a DAO while making real-world purchases. Thus, the incorporated company will be the title holder to any company that LinksDAO acquires. “You can’t buy physical land” as a DAO, said Daily.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.