NFT project aims to raise $1.2 million to buy Cold War bunker

A Solana-based (CRYPTO:SOL) NFT project called Dead Bruv plans to sell 100,000 NFTs to crowdfund the purchase of a Cold War-era nuclear bunker in Rutland, England.

Dead Bruv, creators of the narrative-driven Meatbags NFT collection, will airdrop 10,000 NFTs to existing holders and offer the remaining 90,000 for sale starting April 21 at $14 each, according to a post on the Meatbags X account.

NFT holders will gain membership in a decentralised autonomous organisation (DAO) named the Billionaire Bunker Club.

This DAO will govern the bunker as a real-world asset on-chain and vote on its future use if the purchase succeeds.

The bunker is listed for auction by SDL Property Auctions with a guide price of £650,000 (approximately $862,257) and an auction date set for April 24.

Located on 1.4 acres near a former reservoir, the bunker was built in 1960 as part of a network of 1,500 monitoring posts designed to detect nuclear bursts and radioactive fallout during the Cold War.

It was decommissioned in 1968 but retains permissions to be converted into a residential property.

Robert, the pseudonymous co-founder of Dead Bruv, told X on April 18 that the idea began as a joke but quickly became a “lightbulb moment” aimed at “making NFTs fun again.”

“Taking risks. Getting creative. Pushing the boundaries of what this tech can do to create something completely new, absurd, and incredible,” he said.

“When something comes from a place of, this is completely insane, we gotta do it, that’s when I know we’re onto something,” Robert added.

This initiative follows a trend of DAOs using crowdfunding to acquire high-value assets.

In 2021, ConstitutionDAO raised about $47 million in Ether (CRYPTO:ETH) to bid on an original copy of the U.S. Constitution but ultimately lost the auction.

Meanwhile, LinksDAO successfully purchased Scotland’s Spey Bay Golf Club in 2023 and claims ownership of the Hillcrest Country Club in the U.S.