LinksDAO will bid on a golf course in Scotland following an 88.6% vote in favor of the proposal.
❗ Why It Matters
Whenever LinksDAO does finally buy a golf course, whether it's this one or another, it will represent a successful crossover of Web2 and Web3. 5,000+ golf enthusiasts - rather than specific investors or VCs - came together to be a part of the process of buying a physical property that can be utilized by an entire community.
🔙 Back It Up
It all started when Mike Dudas tweeted, "We are going to buy a golf course," on December 15th, 2021. A couple weeks later, LinksDAO minted on January 1, 2022, and 9,090 membership passes were minted in total: 2,727 Global passes and 6,361 Leisure passes.The Globals would have additional benefits and 4 votes, and the Leisure would have 1 (all benefits can be viewed in the Discord here).
In the past year, the team has been able to offer discounts and create partnerships with brands like Callaway, Bridgestone, Topgolf. But the goal always remained to buy a golf course. 10 golf courses by 2030 in fact. So this potential acquisition would represent the first step of that journey.
- The estimate for the property price is £750,000 (~$900,000).
- The team has reiterated that because of the relatively low cost, the purchase won't affect ability LinksDAO's ability purchase a US golf course this year. Currently 4 US courses are deep in diligence, with >30 being reviewed.
🔜 What’s Next?
The team expects expect the offer / negotiation / closure process to be done in 45 days or less.
Once that process runs its course, there will be other issues to iterate on. Not just the restoration of the golf course but settling the cost of memberships depending on course economics.
🔥 Hot Take
As a day 1 minter (and admittedly a piss poor golfer), I'm still excited for this move even though I live on the west coast and would likely never travel that far just to embarss myself. After sitting in on a focus group back in December, I was impressed with how thoughtful the team was being with buying its first golf course.
Things move so fast in the NFT space, and no doubt there have been people who think it's been taking too long, or that this will distract the team from buying a course in the US. My thinking is it simply takes time to buy something on the scale of a golf course. And I believe that working on a smaller project first will give them experience to make the second course even better. It's been a project that's not about hype or price action, and just about a community with benefits.
🎤 Community Quotes