LinksDAO Moves Closer to Buying Scottish Golf Course with Funds from NFT Project

Updated: 17 March 2023

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LinksDAO, a decentralized autonomous organization (DAO) that caters to golf enthusiasts, announced that it has moved one step closer to purchasing a Scottish golf course.

The DAO and the proprietor of the 18-hole Spey Bay Golf Club, which is located on Scotland’s northern coast, have an exclusivity agreement in place. After conducting due diligence and assuming everything goes according to plan, the property will transfer to the collective within the following three to four weeks.

According to Jim Daily, CEO of LinksDAO, who expressed excitement over the development, the community hopes to complete the transaction within the month. LinksDAO cited that the transaction has not yet been fully closed as the reason for declining to disclose the offer’s value.

According to the property listing, the seller of Spey Bay Golf Club had set a listing price of $905,000 for their home. Although no precise sum has been revealed, according to Golf Digest, the deal is anticipated to close at a higher price.

The purchase will be paid for by an equity funding round and $10.5 million in earnings from the DAO’s non-fungible token. How frequently and at what cost the course will be accessible to DAO members is still up in the air. How frequently and at what cost the course will be accessible to DAO members is still up in the air.

Over 5,000 people will be enrolled in the course, and the community is still working out the specifics of the membership structure. The success of the project, according to Daily, has depended heavily on the community’s input, which will remain important as the project takes physical form.

Despite having relationships with various clubs around the United States, LinksDAO does not yet have its very own club where players may access it. If the Spey Bay transaction goes through, it will be the DAO’s first real estate acquisition. The organization is currently exploring dozens of properties in the U.S. with the hope of buying a club there as well.

Wrapping Up

In conclusion, LinksDAO’s decision to use the money it received from its NFT project to buy Spey Bay Golf Club in Scotland represents a significant turning point for the company. In the event that the agreement is finalized, it will be LinksDAO’s first real estate acquisition, enhancing its golf enthusiast offerings beyond its contracts with numerous clubs across the United States.

The voice of the community has been crucial to the project’s success thus far, and it will remain so as LinksDAO establishes its physical locations. LinksDAO is already looking at dozens of properties in the US with the hope of buying a club there as well, even though the membership structure is still being sorted out.

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