🏌️♀️⛳️ Let's Buy an Entire Golf Course!
Happy Hump Day!
This edition of Hump Days officially marks the first newsletter of 2022! One of my personal New Years resolutions is to go to the gym more often and come out with 2 YouTube videos a week, every week! So hopefully you guys tune in over there.
The world of DAO’s or Decentralized Autonomous Organizations has not disappointed early into the new year. If you recall, last year in November, a group called ConstitutionDAO raised over $40M to buy a first edition copy of the U.S. Constitution. A mission that ultimately failed after being outbid but the principle of raising that amount of money through the blockchain to buy real world assets was a win in and of itself. ConstitutionDAO’s “PEOPLE” Token lives on with a market cap north of $600M waiting for something to govern.
These days, there are many other DAO’s popping up. One of my friends has been chatting with a few friends who are thinking of creating a DAO to buy a European Soccer (Football) Team, wouldn’t that be crazy? To say you were a part owner of a major sports organization. This week, another DAO, LinksDAO sold out a collection of over 9,000 NFTs and raised over $10.5M. However, further capital will have to be raised to buy the actual golf course, said project lead Mike Dudas. The mission is to “create the modern golf and leisure club” and “reimagine the country club,” taking some inspiration from Gary Vaynerchuk’s Flyfish Club where you purchase an NFT to join the membership club at a restaurant.
The concept of “Membership NFTs” could be the future of memberships in the next few years! Drawing from NFT projects like Bored Ape Yacht Club, inclusion in an exclusive community is enough of a winning value add, the golf course is just a bonus.
I personally didn’t buy into LinksDAO, although I thought about it. My thesis was that the golf course the LinksDAO buys is probably not one I would ever visit, so I didn’t find value in a potential membership. Plus, all the best golf courses in the world will always remain private/not-for-sale.
Enjoy this week’s Hump Days!
-Humphrey & Rickie
In the Markets
Weekly News Roundup
Apple Becomes First U.S. Company to Reach $3 Trillion Market Cap (CNBC)
Apple briefly hit a $3T market cap on Monday before dropping back under. A mostly symbolic milestone but it shows how bullish investors are towards Apple and their ability to grow.
RH: It’s going to be exciting to see how Apple is going to keep investors bullish on their growth prospects. Apple Car coming soon? I imagine they won’t leave any stone unturned.
HY: I don’t think Apple will ever stop growing at this point.
LinksDAO NFT Sales Books First $10M Toward Buying an Actual Golf Course (CoinDesk)
LinksDAO successfully sold out of its debut collection of NFTs, raising $10.5M, becoming one step closer to buying its own crowdfunded golf course.
HY: My thoughts are above, but I think we’re going to see many more of these membership NFTs pop up this year.
Tesla Smashes Quarterly Delivery Record With 308,600 Cars (BBG)
Tesla delivered 308,600 vehicles worldwide in the fourth quarter smashing the previous record by more than 50k cars. The strong performance points out robust demand in China and Tesla’s skill at navigating the global semiconductor shortage.
RH: How are they able to navigate the global semiconductor shortage?!
HY: I need to do more research on the EV space, but I feel like betting against Tesla is like betting against the house when you’re in a casino.