A cryptocurrency-funded community of golf enthusiasts has purchased a historic golf course in Scotland, the organisation said.
LinksDAO said it has entered into an 'exclusivity agreement' to purchase Spey Bay Golf Course on the Moray coast between Aberdeen and Inverness.
Reports suggest the 18-hole course, laid out in 1907 and designed by legendary Scottish club maker Ben Sayers, was purchased by the 5,400 member-strong collective for around $900,000 (£735,000).
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Last month, The Herald reported that the course was up for sale, along with the clubhouse, former driving range building, and camping/ caravan site.
Reporting on the sale, GolfDigest describe LinksDAO as “a decentralised autonomous organisation (DAO) comprised of mostly young, tech-forward millennial and Gen Z golfers from throughout the world, though most are based in the United States”.
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LinksDAO's website notes it is "on a mission to own one of the world's greatest golf courses".
Founded back in January 2022 with a focus on ‘acquiring and managing golf courses’ via a $10.5 million (£8.58 million) NFT ('non-fungible token’) fundraiser, NBA star Stephen Curry is rumoured to be among those to have invested in the firm.
We've entered into an exclusivity agreement to purchase Spey Bay Golf Course on the Moray coast of northern Scotland! Thank you to @GolfDigest for covering the purchase. Read more 👇 https://t.co/rAcfrvJsIe
— Links Golf Club (@LinksDAO) March 16, 2023
LinksDAO CEO Jim Daily said the bid is undergoing its “due diligence” phase before it officially puts pen to paper.
The crypto-firm is also said to be seeking advice from a number of architects to remodel the course.
GolfDigest added that LinksDAO’s plan is to “take what is essentially a holiday course played primarily by a local membership and make it into a destination not only for the Links membership but also for serious golfers heading from Cruden Bay to Nairn and Castle Stuart, or Royal Dornoch, Golspie and Brora.”
Commenting on the sale, NFTCulture wrote: “The purchase of Spey Bay Golf Course marks a significant achievement for LinksDAO, which was launched over a year ago with the goal of demonstrating the utility of NFT projects. With the successful acquisition of a real-world asset, the DAO has proven that its model can deliver tangible results and create value for its members.”
Spey Bay Golf Club declined to comment.
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