Golf startup raises $ 10.5 million from NFT sales

No sector of the economy or life is safe from the onslaught or tokenization of non-fungible tokens (NFT). Golf is the latest sport that has succumbed to the lure of NFTs and a round of decentralization thanks to the efforts of LinksDAO.

In an NFT auction that sold in full, LinksDAO raised $ 10.5 million to fund its golf endeavors. Over 9,000 “Leisure Membership” and “Global Membership” NFTs were bought on the OpenSea platform and paid for with Ether (ETH).

While 2021 was a successful year for the activities of decentralized autonomous organizations (DAO), in which the value of some state coffers rose 40 times, golf is now apparently also driving the adoption of crypto assets.

Golf startup raises $ 10.5 million from NFT sales
Golf startup raises $ 10.5 million from NFT sales

However, unlike bored apes or fundraising for presidential campaigns, LinksDAO NFTs help run a DAO that “It would improve transparency on certain aspects of the administrative conduct of the club’s business.”

Because of this, LinksDAO NFTs are not membership cards for golf clubs; They are the keys to community access, governance, and “a multitude of benefits”. NFTs will eventually unlock membership in LinksDAO’s first golf and leisure club.

Unsurprisingly, selling NFT is nothing more than the startup’s way of starting its endeavors. “Identifying a list of golf courses for sale” and developing a LINKS token are high on the priority list of LinksDAO’s business plan. These plans are expected to be completed in mid-2022.

The group is led by Mike Dudas, a well-known figure in the crypto world as the founder and CEO of The Block. As an outspoken anti-maximalist Bitcoin (BTC), it reached number 83 of the 100 most influential people in Cointelegraph’s crypto space in 2020. His Twitter is called “Mike DAO that“And is affiliated with The Block, 6th Man Ventures, a crypto venture capital fund, as well as Paxos and Venmo.

Despite the general exuberance of the DAO market, some golfers and NFT collectors were somewhat confused about Dudas’ plans to start a golf business by starting a DAO.

Doubts cleared up in a tweet that LinksDAO’s NFT “* does not * grant * ownership of the asset, but rather gives governance rights over the club creation process and the ability to acquire membership in the club once it is open.”

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