Golf Brand Callaway Joins LinksDAO as Equity Investor, ‘Strategic Partner’
The DAO that wants to buy a golf course is adding a big name to its cap table.
Non-fungible token (NFT) country club LinksDAO has brought Callaway Golf Company (ELY) in on its quest to own and operate an actual golf course.
Callaway, one of the largest golf equipment manufacturers and owner of driving-range game Topgolf, invested in LinksDAO’s ongoing equity round, two people familiar with the investment told CoinDesk.
A representative for LinksDAO declined to comment on the funding. Callaway declined to comment on the fundraise but said: “This marketing partnership is the beginning of our relationship.”
The cash and Callaway clout adds fuel to LinksDAO LLC’s “let’s buy a golf course” war chest. Formed by Mike Dudas and run by Jim Daily, the group is one flavor of crypto’s decentralized autonomous organization movement. It first came to prominence after crowdfunding $10 million by selling digital membership tokens to golfers in January.
The tie-up extends to branding, too: Callaway becomes the “official” equipment provider for LinksDAO and will offer discounts and deals on branded swag to the group’s NFT-holding members.
“This strategic collaboration is a natural fit that will benefit each brand,” said Callaway CEO Chip Brewer, who was personally involved in the deal.
“We are thrilled to be working with Chip Brewer and his team across all of their brands to bring fantastic benefits to our community and continue to usher the game of golf into a new era,” LinksDAO’s CEO Daily said in a statement.
Disclosure: The author owns two LinksDAO NFTs.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.