What You Need to Know:
- LinksDAO is launching the LINKS token to finance golf course purchases alongside its NFT ventures.
- The organization aims to partly own Hillcrest, a golf course designed by Donald Ross located in Kansas City.
LinksDAO is set to unveil a community token, aiming to supplement its nearly 10,000 membership NFTs that were previously sold to support its goal of acquiring a golf course.
NFTs have lost their appeal since their peak in early 2022, and the market frenzy that once rewarded extravagant digital artworks has shifted dramatically.
The CryptoSlam’s NFT Index, for instance, has witnessed a decline of nearly 97% since its debut in January 2022, highlighting the ongoing transformation in market interests. LinksDAO plans to follow suit with its own token.
“We will be introducing a community token rooted deeply in golf culture, with compliance to the applicable regulations we face,” stated LinksDAO founder Mike Dudas during a recent community call.
The token is expected to debut soon on the Base blockchain, with a third of its total supply designated for LinksDAO NFT holders, as well as smaller portions allocated to members of other NFT communities, such as Pudgy Penguins and Bored Ape Yacht Club.
Notably, LinksDAO is navigating a challenging market landscape where the perceived notion of crypto assets as purely speculative remains prevalent, even amid advocacy for responsible investment strategies.
“Our ambition is that every golfer possesses LINKS in their crypto wallet,” declared Cooper Sherwin, the Head of Community and Co-founder of LinksDAO.
LinksDAO made headlines by acquiring a golf club in Scotland in mid-2023 and is now pursuing an agreement to partially own a second course in Kansas City, pending approval from its NFT-holding members.
Hillcrest Golf Course, established in 1915 by Donald Ross, boasts a rich history but has faced deterioration over the years, establishing an opportune moment for LinksDAO to facilitate a deal. Current owner Robb Heineman, also a local businessman with ties to the MLS, recently paused operations to undertake a significant renovation aimed at revitalizing the property.
Heineman remarked that LinksDAO aligns with their vision of innovation within golf club management.
LinkDAO plans to enter a minority ownership position at Hillcrest and acquire a seat on the board, although specific financial details of the agreement remain undisclosed. Members of LinksDAO who possess NFTs have voting rights on key proposals but retain limited legal authority regarding the project’s management decisions.
Approximately 200 club members attended a meeting where they learned of the acquisition and the anticipated token launch.
