LinksDAO to Launch Community Token After Pivot from NFTs
LinksDAO, which initially gained traction by selling NFTs to fund its ambitious project of purchasing a golf course, is now introducing a community token. This move adds a new, tradable asset alongside its nearly 10,000 membership NFTs, a concept that helped the organization raise $10 million in its early days. However, since then, the NFT market has cooled, and the focus has shifted elsewhere.
In early 2022, the NFT market was riding high, with artworks like Beeple’s selling for hundreds of millions. But now, the market is down nearly 97%, as reflected by CryptoSlam’s NFT Index. The current wave of crypto enthusiasm is focused on memecoins, with even political figures like Trump entering the space. Now, LinksDAO is following suit with its own token, LINKS.
“We are going to be launching a community token that has deep culture, embedded in golf, in the community, and is in compliance with regulations,” said LinksDAO founder Mike Dudas during a recent community call.
The LINKS token is expected to launch on the Base blockchain in the coming months. A third of its supply will be reserved for LinksDAO NFT holders, with smaller portions allocated to other NFT communities such as Pudgy Penguins and Bored Ape Yacht Club.
LinksDAO has made it clear that LINKS is not meant to be speculative or an investment, despite the inherent financial aspect of any crypto asset. Instead, it’s being marketed as a “community enhancer” to further solidify LinksDAO’s place in the crypto and golf space.
“The goal is to have every single golfer with LINKS in their crypto wallet,” said Cooper Sherwin, LinksDAO’s head of community and co-founder.
In addition to the token launch, LinksDAO has expanded its golf club ownership. In mid-2023, it acquired a golf course in Scotland, and more recently, it signed an agreement to become a partial owner of Hillcrest Golf Course in Kansas City, pending approval from its NFT-holding members.
Hillcrest, designed by famed architect Donald Ross in 1915, had fallen into disrepair over the years. With the current owner, Robb Heineman, undertaking a $30 million renovation project, LinksDAO saw an opportunity to invest. While financial details of the deal remain undisclosed, LinksDAO will become a minority owner and gain a board seat at Hillcrest.
The membership program at Hillcrest will transition to become a LinksDAO operation, with access granted exclusively to NFT holders. Despite the term “DAO,” LinksDAO is more of a specialized affinity club rather than a fully decentralized organization.
About 200 members attended the Tuesday night call, where both the golf course acquisition and token launch were announced.
