Crowdfunding Campaign to Buy Cold War Nuclear Bunker Through NFTs

A unique crowdfunding initiative is underway as the Solana-based NFT project, Meatbags, aims to purchase a Cold War-era nuclear bunker in Rutland, England. By selling 100,000 NFTs, the project hopes to raise approximately $1.4 million to secure the historic site, which is currently up for auction.

Key Takeaways

• NFT Sale: 100,000 NFTs priced at $14 each will be sold starting April 21.

• Auction Date: The bunker is set to be auctioned on April 24 with a guide price of £650,000 (around $862,000).

• DAO Formation: NFT holders will form the Billionaire Bunker Club, a decentralized autonomous organization to decide the bunker’s future use.

• Creative Uses: Proposed ideas for the bunker include a survival resort, Airbnb, or a festival venue.

The Bunker’s Background

Constructed in 1960, the bunker served as a monitoring post during the Cold War, tasked with reporting nuclear bursts and monitoring radioactive fallout. It was decommissioned in 1968 and is now listed for sale with planning permission for conversion into a residential property. The site spans 1.4 acres and includes a former reservoir, making it a prime candidate for creative redevelopment.

The NFT Sale

The Meatbags project, created by a team known as Dead Bruv, will mint 100,000 NFTs, with 10,000 tokens allocated to existing holders through an airdrop. The remaining tokens will be available for public purchase at $14 each. The sale will run from April 21 until the auction date on April 24.

Purchasers of the NFTs will gain entry into the Billionaire Bunker Club, which will govern the future of the bunker through community voting. This model allows members to propose and decide on various uses for the property, fostering a sense of ownership and engagement.

Proposed Uses for the Bunker

The Meatbags community has brainstormed several potential uses for the bunker, including:

• Members-Only Survival Resort: A themed resort featuring a Doomsday DJ.

• Airbnb: Offering unique experiences such as caviar tastings and canned bean room service.

• Event Venue: Hosting end-of-the-world festivals or other themed events.

A Lighthearted Approach to NFTs

The initiative began as a joke but quickly evolved into a serious project aimed at making NFTs enjoyable again. Robert, the pseudonymous co-founder of Dead Bruv, expressed excitement about the creative risks involved, stating that the project reflects the kind of innovative spirit that initially attracted him to NFTs.

Learning from Past DAO Efforts

This crowdfunding effort draws parallels to previous attempts by decentralized autonomous organizations (DAOs) to acquire significant assets. Notably, ConstitutionDAO raised over $47 million in 2021 to bid on an original copy of the U.S. Constitution but ultimately lost the auction. In contrast, LinksDAO successfully purchased the Spey Bay Golf Club in 2023, showcasing the potential for DAOs to acquire physical properties.

Conclusion

As the Meatbags project prepares for its NFT sale, it represents a novel intersection of digital assets and real-world property ownership. If successful, this initiative could pave the way for future crowdfunding efforts in the NFT space, blending creativity with community governance in unprecedented ways.

Sources

• Decentralized Defense? NFT Group Targets Cold War Bunker Buy, Bitcoinist.com.

• Solana’s Meatbags announces NFT sale to buy Cold War bunker, Crypto News.

• Solana NFT Project Plans to Purchase Cold War Nuclear Bunker Through Crowdfunding, MoneyCheck.

• NFT project plans crowdfund purchase of Cold War nuclear bunker, Cointelegraph.

• Solana NFT Project Launches $1.4 Million Campaign to Buy Nuclear Bunker, CoinCentral.