If the final tally remains in favor of the purchase, the LinksDAO acquisition committee will officially put out a “compelling offer” to purchase the golf course.
Decentralized Autonomous Organization (DAO) golf startup LinksDAO may soon bid for the newly floated Spey Bay Golf Club in Scotland for around $900,000.
LinksDAO – a global group of golf enthusiasts with a mission to create “the world’s largest golf community” – officially opened voting for the proposal on February 20, after weeks of informal discussion.
This would be DAO’s first golf course purchase.
Voting officially ends in February. As of 12:00 PM ET on the 22nd, more than 88% of the 100 LinksDAO token holders have already voted in favor of the proposal.
If the final result is in favor of the purchase, the LinksDAO purchase committee will meet with the relevant parties to prepare a “commendable offer” to purchase the club “for the successful purchase of the entire golf course” said proposal.
The authors of the proposal – “Bez”, “Jim”, “cbruce” and “nickwalkermsu” – explained that while much of the DAO’s research went into finding a suitable golf course in the United States, the list was too specific ignore.”
The authors added that the course is “playable today” and that its high ceiling and low price ratio make it a worthwhile investment.
“Even at three times the MSRP, the price would be cheaper than most of the mediocre courses. we have evaluated so far in the United States,” explained the authors.
LinksDAO shortened the voting window to
8 hours to act quickly on a possible purchase and hopefully get a good price for the company:
“The timing of the sale requires us to act as soon as we decide to participate in the process. […] We intend to complete this purchase while maintaining momentum in our efforts to acquire courses in the United States.”
LinksDAO expects to make an offer of $900,000, which is said to be approximately its current market value, according to Golf. Business News
The 18-hole golf course is located In Fochabers, about three and a half hour drive from the capital of Scotland Edinburgh,
The DAO explained that the possible purchase would be financed from its fundraising capital and that it would be transferring money from its coffers to the company’s bank account to support ongoing operations.
Proponents noted that this would happen within 30 days of the purchase.
LinksDAO officially became a DAO in January 2022, as a result of a $10.5 million fundraiser, in which more than 9,000 of its “free-time” and “global” membership NFTs were sold on OpenSeas in a short 2-hour period. The holders of the LinksDAO membership issued on the Ethereum network are now 5,302, according to the non-fungible token (NFT) market OpenSea.
The average membership fee is 0.29 Ether ETH ($1,632) or about $80 at current prices.
Although it is not known how much LinksDAO has in the coffers, LinksDAO currently has a market cap of $3 million, according to CoinGecko.
NBA superstar Stephen Curry is a famous figure who invested to be a member of LinksDAO. However, it is not known if he is still the owner of the brand.
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