Scotland's 116-Year-Old Spey Bay Golf Course Joins Web3 as LinksDAO Completes Acquisition
LinksDAO, a decentralised autonomous organisation (DAO) focused on golf, has successfully acquired a 156.02-acre property in Spey Bay, Scotland, which includes an 18-hole links golf course, a clubhouse, a former driving range building, and a camping/caravan site.
The property is located in a stunning part of Scotland and is close to major centres and tourist attractions.
The golf course was designed by a Scottish professional golfer, Ben Sayers, and opened in 1907.
The acquisition marks a significant milestone in the convergence of Web2 and Web3, as more than 5,000 golf enthusiasts collaborated to purchase the physical property for community use.
The journey began when Mike Dudas tweeted, “We are going to buy a golf course,” on December 15, 2021. LinksDAO minted 9,090 membership passes on January 1, 2022, consisting of 2,727 Global passes and 6,361 Leisure passes.
On February 19, 2023, LinksDAO released a proposal outlining the plan to purchase the property using its treasury funds, which are currently held in ETH and USDC.
The estimated cost of the property was £750,000, with annual operating costs projected at £100,000.
The proposal argued that the acquisition would be a strategic move for LinksDAO, allowing the organisation to create a physical space for members to play golf, socialise, and learn from one another.
LinksDAO plans to renovate the property and turn it into a world-class golf course and country club.
The Spey Bay Golf Course was on the market for offers over £750,000 (~$900,000). LinksDAO submitted a bid in February and announced the winning bid in March, with the transaction closing in May.
The acquisition will not affect the DAO’s ability to purchase a US golf course this year, as four US courses are currently under review.
LinksDAO makes golf accessible and affordable worldwide where members get to enjoy exclusive benefits like discounts on courses, lessons, and equipment, removing financial barriers often associated with the sport.
Over the past year, the team has secured discounts and partnerships with brands like Callaway, Bridgestone, and Topgolf, but the primary goal has always been to acquire golf courses, with a target of 10 by 2030.
With the acquisition finalised, LinksDAO can now move forward with its plans. The pricing for the three membership tiers (Gold, Platinum, and Diamond) has not been revealed, but it could potentially serve as a blueprint for future golf course acquisitions in the US.
LinksDAO NFT holders can reserve their membership with a $100 fully refundable deposit and secure their spot as a founding member at Spey Bay.
A welcome event for all LinksDAO members is scheduled for July 15-17 at Spey Bay, with official event details to be announced soon.