Crowdfunding the Apocalypse: NFT Project Seeks to Buy Cold War Bunker

A unique crowdfunding initiative is underway as the doomsday-themed NFT project, Meatbags, aims to purchase a Cold War-era nuclear bunker in Rutland, England. By selling 100,000 NFTs at $14 each, the project hopes to raise $1.4 million to secure the property and transform it into a community-governed asset.

Key Takeaways

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

• Bunker Details: The bunker is listed for £650,000 (approximately $862,000) and has planning permission for conversion into a luxury home.

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

• Refund Policy: Participants will be refunded if the purchase is unsuccessful within six months.

The Bunker and Its History

The targeted bunker was constructed in 1960 as part of the British Royal Observer Corps, designed to monitor nuclear activity during the Cold War. It was decommissioned in 1968 and is one of 1,500 similar facilities built across the UK. The property spans 1.4 acres and includes a former reservoir, with existing permissions to convert it into a residential space featuring cathedral-style ceilings and expansive views of the Leicestershire countryside.

The Crowdfunding Campaign

The Meatbags project, created by a team known as Dead Bruv, plans to mint 100,000 NFTs, with 10,000 being airdropped to existing holders. The remaining tokens will be available for public purchase. The campaign aims to raise $1.4 million, which will cover the purchase price, renovation costs, and other associated fees.

Community Governance Through DAO

Purchasers of the NFTs will gain membership in the Billionaire Bunker Club, a DAO that will govern the future of the bunker. Members will vote on various proposals, including:

• Transforming the bunker into a tourist attraction.

• Establishing an Airbnb with unique offerings like caviar tastings.

• Hosting end-of-the-world festivals or creating a survival resort.

This innovative approach combines virtual ownership with physical real estate, potentially setting a precedent for future blockchain community projects.

Learning from Past DAO Efforts

The Meatbags initiative draws inspiration from previous DAO attempts, notably ConstitutionDAO, which raised $47 million to purchase a copy of the U.S. Constitution but ultimately lost the auction. Unlike that effort, Meatbags has pledged to refund participants if they cannot secure the bunker or an alternative site within six months of a rejected bid.

Conclusion

As the NFT market continues to evolve, the Meatbags project represents a bold and creative venture into the realm of real estate ownership through blockchain technology. With the sale set to begin on April 21, the community eagerly anticipates the outcome of this unprecedented crowdfunding campaign, which aims to blend the worlds of digital assets and physical property ownership in a unique way.

Sources

• ConstitutionDAO But for the Apocalypse: Solana NFT Project Aims to Buy Nuclear Bunker, Decrypt.

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

• 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.