In one day, raising tens of millions of dollars, "LinksDAO" will operate a golf course in the form of a DAO
The project leader is Mike Dudas, the founder of The Block.Author: Azuma
Source: Planet Daily
On January 4, the decentralized autonomous organization LinksDAO announced that it has raised a total of $10.5 million through NFT sales, selling a total of 9,090 NFTs (the team retained 10%, which will be used for future promotions and collaborations), taking approximately 26 hours to complete.
Although there are some differences in fundraising methods (NFT sales, donations), LinksDAO is similar to recent DAO organizations like ConstitutionDAO and Free Ross DAO, which have gained popularity, as they all coalesce around a specific goal.
Specifically, LinksDAO's vision is to gather thousands of enthusiasts through the DAO model and collaboratively build a modern golf and leisure club for the community. The NFTs sold represent membership in this club, and users holding these NFTs will be able to participate in the governance of the club and enjoy various activities and benefits in the future.
Based on the differences in NFT categories, LinksDAO issued two levels of membership qualifications—Leisure Membership and Global Membership. The former consists of 6,363 NFTs, with an initial sale price of 0.18 ETH.
The current floor price on Opensea is 0.32 ETH, while the latter consists of 2,727 NFTs, with an initial sale price of 0.72 ETH, and the current floor price on Opensea is 0.95 ETH. As of the publication of this article, LinksDAO NFTs have accumulated a total trading volume of over a thousand ETH in the past two days.
On the homepage of LinksDAO's official website, we can see the specific rights differences of different membership levels. As shown in the above image, the differences mainly lie in governance weight and the ability to bring friends and family.
Since governance has been mentioned, it is essential to discuss the token-related content. According to the plan, LinksDAO will launch a freely tradable governance token called LINKS in the future. The project leader (also the founder of the cryptocurrency media The Block) Mike Dudas stated in an interview with CoinDesk, "I cannot guarantee a specific (token issuance) date.
But our goal is to launch the governance token as early as possible in 2022. We need to complete everything in a compliant manner, and reasonable token distribution and governance design are crucial for ensuring active participation from community members."
Dudas also mentioned the project's biggest challenge—purchasing and operating a golf course certified by the Professional Golfers' Association (PGA) in the United States. According to industry experience, the costs of such operations can reach tens of millions of dollars, so LinksDAO will certainly need to raise funds again in the future.
Another compliance-related detail is that under the existing legal framework, a DAO may not be able to hold traditional types of assets like a golf course, so LinksDAO is considering creating an independent entity called "LinksDAO Inc." to serve as the future operational entity for the golf course. However, the delineation of authority between this entity and the DAO still needs further discussion.
