LinksDAO likely to put in ‘compelling offer’ to buy Scottish golf course
Decentralized Autonomous Organization (DAO)-run startup LinksDAO may soon make an offer to buy the recently listed Spey Bay Golf Club in Scotland for around $900,000.
LinksDAO – a self-proclaimed “global group of golf enthusiasts” whose mission is to create “the greatest golf community in the world” – officially opened the ballot on the proposals on February 20, which took place after weeks of informal discussions.
This will be DAO’s first golf course purchase.
Few things in life are more fun than doing what you promised to do despite adversity.
I will love @linksdao core team, members and members forever for completing 110%
bear markets mean nothing when passion meets greatnesshttps://t.co/1iqvi1sHIx pic.twitter.com/qQGLYxlB9F
— Mike Doubts (@mdudas) February 21, 2023
While voting officially ends on February 22 at 12:00 pm ET, over 88% of the 4,100 LinksDAO token holders have already voted in favor of the proposal.
If the final outcome is in favor of the purchase, the LinksDAO Acquisition Committee will meet with the appropriate parties necessary to make a “convincing offer” to purchase the club “with the full intention of successfully acquiring the golf course.” stated.
The proponents of the proposal – “Bez”, “Jim”, “cbruce”, and “nickwalkermsu” – explained that while much of the DAO’s research efforts were focused on finding a suitable golf course in the United States, “this list was too special, to ignore it.”
“While looking for our first golf course we wanted to buy, we found a promising property in Scotland called Spey Bay Golf Club. This vote should determine whether we should move forward with the submission of the proposal and work on the purchase of the course.”
The authors added that the course is “playable today” and that the high ceiling/low price ratio makes it a worthwhile investment.
“Even a price three times the “guide price” would be cheaper than most of the mediocre courses we have evaluated in the US so far,” the authors explain.
As such, LinksDAO has shortened the voting window to 48 hours in order to quickly act on a potential purchase and hopefully get a good price on the club:
“The timing of the sale requires us to act now if we decide to participate in this process. […] We intend to make this purchase while maintaining the speed of our efforts to acquire courses in the US.”
LinksDAO is looking to make an offer of around $900,000, which is said to be roughly in line with its current market value. according to in golf business news.
The 18-hole golf course is located in Fochabers, about a three and a half hour drive from Edinburgh, the capital of Scotland.
The DAO explained that the potential purchase will be funded by capital raised through fundraising and that it will transfer funds from its treasury to a corporate bank account to support current operations.
The authors of the proposal noted that this would happen within 30 days of purchase.
#For Salespey bay #Golf Well, #morayshire (including clubhouse and caravan parking). A great opportunity to own an 18-hole link course (designed by the legendary Ben Sayers) located on a beautiful #moray eel #coast. https://t.co/TavZpZ0hrZ
— Strutt & Parker Scotland (@struttsscotland) January 26, 2023
LinksDAO officially established itself as a DAO in January 2022, the result of a $10.5 million fundraiser when over 9,000 of its “leisure” and “global” membership NFTs were traded on OpenSea in a short 24-hour period.
There are currently 5,302 LinksDAO membership holders issued on the Ethereum network. according to to the non-fungible token (NFT) market of OpenSea.
The average minimum membership price is 0.29 Ether (ETH), or about $480 at current prices.
Types of DAO and how to create a decentralized autonomous organization
While it is not known how much is in LinksDAO’s treasury, LinksDAO’s market capitalization is currently $4.34 million. according to at CoinGecko.
Welcome to LinksDAO, @StevenCurry30 – See you at the 1st platform! ⛳️
— Links (@LinksDAO) January 10, 2022
NBA superstar Stephen Curry is a notable figure who has invested in LinksDAO membership. However, it is unknown if he is still the holder of the tokens.
Credit : cointelegraph.com