A Web3 community that was created with the goal of buying a real-world golf course, LinksDAO wins the bid to buy its first golf course, the Spey Bay Golf Club, an 18-hole oceanside club in Scotland. LinksDAO, which was established in 2021, is a decentralized independent organization (DAO), or an online community of golf aficionados whose affiliation is indicated by an NFT pass. The offer was submitted a month after 88.6% of LinksDAO token owners approved of making a “compelling offer” for the golf course.
LinksDAO: A perfect blend of golf and NFTs
LinksDAO wins bid to buy its first golf course, and wants to transform what it means to be a member of a golf club and create a thriving community of golf enthusiasts. In December 2021, LinksDAO sold NFTs to raise (at the time) roughly $10.5 million in ETH, but they have also acquired outside investment. Over the past year, LinksDAO has examined more than 90 golf courses and is still in contact with over 20 of them.
Working through the details, LinksDAO seeks advice on renovation
The DAO is currently “working through the specifics” of the course membership model and hasn’t verified what perks LinksDAO token holders who want to use the golf course would receive. Besvinick assessed the golf course’s current condition as “usable.” Besvinick stated that the DAO intends to keep the course open until restorations commence. Links is seeking architectural assistance to reconstruct the golf course, which has “suffered from weather and eroding concerns in recent years,” according to the head of the strategy Adam Besvinick in the Twitter post. He also said “Enhanced upkeep will considerably improve this property.”
Winning Spey Bay to have no implications on further purchases, LinksDAO claims after LinksDAO wins the bid to buy its first golf course, that Spey Bay would have no bearing on its aspirations to purchase other golf clubs in the United States. The chance to acquire Spey Bay was far better than buying other “mediocre” golf courses. Members of the group now have access to multiple US-based courses, but the Scottish course is the very first that they intend to own.
LinksDAO also intends to provide its DAO members with the first opportunity to invest in the operational company. If realized, certain NFT buyers may theoretically get equity ownership of a physical golf course as well as cash flows from the operation.