A community token from LinksDAO is in the works for launch on Base.

LinksDAO Shifts Focus to Community Token Amid NFT Decline

LinksDAO, which initially raised funds through the sale of NFTs in its pursuit of buying a golf course, is now expanding its strategy with the introduction of a community token. This new token, called LINKS, aims to be a highly tradable asset in addition to the nearly 10,000 NFTs it previously sold. However, the NFT market, once booming, has seen a sharp decline in recent months, prompting LinksDAO to pivot its approach.

When LinksDAO first launched its membership NFTs in early 2022, it capitalized on the market’s high demand, raising $10 million in the process. But as the NFT market has cooled, the focus has shifted away from non-fungible tokens to other emerging trends like memecoins. CryptoSlam’s NFT Index, for instance, has dropped nearly 97% from its peak, signaling the end of the NFT craze.

LinksDAO now plans to launch the LINKS token, which it views as more than just a financial asset. “We are launching a community token with deep cultural ties to golf, and it will adhere to the regulations we must work within,” said Mike Dudas, LinksDAO’s founder, during a community call.

The LINKS token is expected to launch soon on the Base blockchain, with a third of its supply allocated to LinksDAO NFT holders. Other NFT communities, such as Pudgy Penguins and Bored Ape Yacht Club, will also receive a portion of the token’s supply.

Despite its financial implications, the LINKS token is being marketed as a “community enhancer” rather than a speculative investment. LinksDAO emphasizes that it’s focused on expanding the club’s reach and furthering its mission in the intersection of crypto and golf.

The organization has already made significant strides in the golf world, acquiring a golf course in Scotland in mid-2023. In addition, LinksDAO has reached an agreement to become a partial owner of Hillcrest Golf Course in Kansas City, pending approval by its NFT-holding members.

Hillcrest, designed by the legendary Donald Ross in 1915, had fallen into disrepair but is now undergoing a $30 million renovation under the current ownership of Robb Heineman. As a minority owner of Hillcrest, LinksDAO will also secure a board seat, giving it a say in the course’s future direction.

The transition to making Hillcrest’s national membership program exclusive to NFT holders signals LinksDAO’s shift toward solidifying its position as a club that blends golf with the crypto world. Despite its name, LinksDAO is more of a niche community than a fully decentralized autonomous organization.