LinksDAO, the global community of golf enthusiasts which says it's reimagining the "country club," today confirmed it won the bid to purchase the Spey Bay Golf Club in Scotland.
LinksDAO members could now be heading down the fairway on the stunning country's stunning Moray coastline, securing the listing it described as “too special to ignore” at a guide price of around $900,000. The course first opened in 1907.
“We won the bid. We’re buying a golf course!!!,” LinksDAO said on Twitter. The final purchase price is not known. In its first attempt at acquiring a golf course, LinksDAO pulled off the hole-in-one after participants overwhelmingly backed a proposal put to the community in February.
After selling more than 9,000 NFTs in just over 24 hours at the beginning of the year, the LinksDAO raised around $11 million worth of ether. Although search efforts initially focused on U.S. courses, LinksDAO has been on a mission to buy a golf course somewhere in the world.
The purchase serves as one of the most substantial examples of a DAO selling NFTs with real-world utility that community members can then use to participate in the purchase and managing of a valuable physical asset.
Digital membership cards
Membership NFTs have sold for as high as roughly $9,600, according to CryptoSlam! data. Additionally, sales volumes for the LinksDAO NFTs rose nearly 100% during the last week while overall the digital membership cards have generated more than $29 million in trading since their issuing, also according to the site's data.
"LinksDAO is creating the modern golf & leisure club," the company has said. "A global community of thousands of enthusiasts has come together to create one of the world's greatest golf clubs — and reimagine the country club."
Links has more than 5,400 members, according to Golf Digest. Jim Daily, Adam Besvinick and 6th Man Ventures’ Mike Dudas founded LinksDAO in 2021.
Disclaimer: Mike Dudas, co-founder of LinksDAO, is the co-founder and former CEO of The Block. He no longer has a financial interest in the company.
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