Will Porada
- Three weeks ago, Mike Dudas came up with LinksDAO, a decentralized autonomous organization for golfers
- They minted 9,090 NFT memberships to raise funds to a build a more democratized golf course and country club
- Now, owners are flipping the memberships and some are making over $1,000 profit
Three weeks ago, well-known crypto investor Mike Dudas came up with the idea of LinksDAO, a decentralized autonomous organization for golfers. Dudas gathered his friends Jim Daily and Chris Maddern to create a more widely democratized golf club membership experience.
https://twitter.com/mdudas/status/1475957068679069703?s=20
According to a recent CNBC Make It interview, what the group did next was assemble a team of creatives to mint a collection of 9,090 NFTs (a number with possible relation to “breaking the 90” in the golf world) to sell as proof of membership. The membership would gain future entrance to the physical golf course and country club LinksDAO plans on building.
Selling Over $10.4 Million Worth of NFT Golf Memberships
After 48 hours Jim Daily told CNBC they sold over $10.4 million worth of the NFTs.
He went on to mention the funds raised were going to be used for “operation costs and legal fees.” Next they plan to raise additional funds to buy an actual course.
If you were to get in on the initial mint of the NFTs, you could have purchased a Leisure Membership for 0.18 ETH (about $618 today) or a Global Membership for 0.72 ETH (about $2,471 today).
The Leisure Membership is the first tier and includes a populated count of 6,363, while the Global Membership is the second tier and has 2,727 populated NFTs. Each membership includes its own respective perks with access to events and governance rights for LinksDAO, as well as chances to win prizes.
Flipping Memberships for Profit on the Secondary Market
What’s fascinating is LinksDAO NFT owners are turning significant profits in real-time by flipping the memberships.
Individuals can buy a LinksDAO NFT on OpenSea right now, but they’ll be paying the secondary market price. Due to the high demand, the prices for each membership have shot up significantly in recent weeks.
https://twitter.com/linksdao/status/1478932521605910529?s=20
If you look at the “Activity” tab on LinksDAO’s OpenSea page you’ll be able to see each sale of the membership. As of today, a Leisure Membership is selling for around 0.34 ETH, or about $1,176. Global Memberships are now selling for over 1.1 ETH, or approximately over $3,800.
What Comes Next for LinksDAO
So for those wondering how people can make so much money on NFTs, this is a textbook example. It illustrates the kind of value you can get out of your NFT now versus what you could potentially get if you hold and wait.
You can view LinksDAO’s official site here, where they reveal their roadmap to what they hope to come in the next year to two years. It’s by reading an NFTs roadmap that you can decide if there is long-term value to be created as you hold your membership through the end goal.
In this specific case, it’s making $600 or $1000 profit or waiting until you can someday tee off at the official LinksDAO golf course. Both are great outcomes, but the latter sounds pretty sweet if you ask us.
John is the Style & Gear Editor for BroBible. You can contact him on Twitter @johnthompsoniv or via email John@brobible.com