The LinksDAO Sold Its Memberships And Raised Over $ 11 Million In Its Quest To Buy A Real Golf Course | Currency News | Financial and business news

  • A new decentralized autonomous organization has raised millions in its quest to buy an actual golf course.
  • The LinksDAO sold its memberships over the weekend and raised over $ 11 million in ether.
  • LinksDAO membership holders have the right to purchase a membership during the course.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

A new Decentralized Autonomous Organization, or DAO, has trained and raised millions of Aether in the hopes of purchasing and operating an actual golf course for its new members.

The LinksDAO sold its 9,090 NFT subscriptions over the weekend, making 3,109 ether worth about $ 11.7 Monday morning.

DAOs have proliferated in recent months as the crypto world builds its own crowdfunding model. Among the best-known groups is ConstitutionDAO, which failed to buy a 235-year-old copy of the US Constitution in November. The DAO lost its offer to billionaire Ken Griffin.

But LinksDAO’s stated goal seems more achievable than ConstitutionDAO as it scours the United States in search of a potential golf course to purchase, operate, and maintain. DAO sold 6,363 Leisure Membership NFTs and 2,727 Global Membership NFTs for 0.18 Ether and 0.72 Ether, respectively.

Memberships give their holders various rights, including the right to purchase a membership in the first physical club acquired by DAO, as well as governance rights via the $ LINKS token launched in early 2022.

Already, LinksDAO NFTS membership has seen a total sales volume of over $ 3 million in the secondary market, with an average price hovering around $ 1,500, according to data from NFT Stats. While memberships are already sold out, investors can purchase them through OpenSea in the secondary market.

LinksDAO’s roadmap includes purchasing a golf course in mid-2022 and opening it up to the community by the end of 2022 or early 2023. From there, LinksDAO hopes to expand at other locations and create a global network of golf course members.

The DAO will keep 10% of the supply of each type of membership which it can then sell to fundraise for marketing, partnership and strategic purposes, in the same way a public company will sell its own shares for raise funds for growth.

While Web3 is seen as living in a digital world with avatars and social hangouts, the LinksDAO points out that a democratized form of real asset ownership, like a golf course, can be enabled by cryptocurrencies. and NFTs.

About Sharon Joseph

Check Also

Webcast: How the energy crisis is fueling clean energy opportunities

The ongoing global energy crisis has caused many governments to reflect on their energy security …