LinksDAO Completes Acquisition of Well-Known Golf Course in Scotland
Web3 community LinksDAO made the announcement (1) on Thursday, March 16, that it has purchased a real-world golf course by obtaining the highest offer to purchase Spey Bay Golf Club, an oceanfront 18-hole golf property in Scotland. The course is located in Scotland.
The Spey Bay golf course has been around for 100 years and was up for sale for 750,000 GBP, which is equivalent to approximately $910,000. On the other hand, it is not entirely obvious how much money LinksDAO spent to get this.
We won the bid.
WE'RE BUYING A GOLF COURSE!!!
— Links Golf Club (@LinksDAO) March 16, 2023
According to the information provided by GolfDigest, the final price of the transaction must have been more than the advertised price.
LinksDAO was established in 2021 and functions as a decentralized autonomous organization (DAO) that is comprised of an online community of gold aficionados and fans. These individuals are LinksDAO members who obtained their membership by purchasing an NFT pass.
According to the Discord server for LinksDAO, there are presently more than 26,000 subscribers and a total of 5,000 individuals who hold Ethereum NFT access pass. Jim Daily, co-founder and CEO of LinksDAO, described this new discovery as being appropriate for the combination of non-fungible tokens and golf.
“Non-tournament tournaments are your ticket into the club. Thus, we came to the conclusion that these two things should be combined,” he explained.
Non-fungible tokens are digital assets that s built on blockchain technology. These tokens can be used to represent digital treasures and artwork, and they can also be linked to tangible goods, memberships, and other incentives.
The chief executive officer of LinksDAO stated that the platform’s goal is to create a thriving community of people who are passionate about golf and to provide them with an entirely different experience of being a member of a golf club.
They already have linked wallets that hold LinksDAO NFT passes to the professional basketball star Steph Curry as well as the businesses that are associated with the NFT project that is being led by the iconic actor Bill Murray.
LinksDAO was able to acquire a total of $10.5 million worth of Ethereum through the sale of its NFTs in the month of December 2021. In addition to that, they have obtained support from other sources.
Currently, members of the LinksDAO community are already hard at work figuring out the next steps that need to be taken with the purchase of the Scottish locale. Cooper Sherwin, the community manager for LinksDAO, recently gave an interview with the crypto website Decrypt.
“We have a profound respect for the long and illustrious heritage of both Spey Bay and all of Scottish golf. We wish to respect the rich history of all of the decisions and changes that are made, and the branding may undergo some minor adjustments based on feedback from the community.
DAOs had already established themselves as a viable financial option by the time LinksDAO entered the market. However, in contrast to some of the other participants in the market, LinksDAO chose a somewhat unique strategy.
According to Daily, “the participants of the DAO do not have stock ownership in the company. The NFT, in its most basic form, is a membership pass. You will have voting rights in advisory capacities as a result of this.”
Despite this, Daily is aware of a DAO’s difficulties when attempting to make purchases in the physical world.
So, the newly created business will be the legal owner of any firm that LinksDAO purchases in the future. According to Daily, a DAO does not have the ability to purchase actual land.