After paintings, houses and jewellery, the latest item to be sold as an NFT (non-fungible token) is a yacht — the world’s first NFT yacht was sold on the Ethereum blockchain recently.
The 110-foot NFT yacht — designed by Gregory C Marshall — will also be presented to its owner in the physical form.
Here’s what all we know about the NFT yacht
Gregory C Marshall partnered with the company Cloud Yachts and came up with the idea of combining the two worlds – NFTs and yachts, in order to make custom-superyachts for people.
Giving a little more detail about the project on the official website, Cloud Yachts said, “Award-winning naval architect Gregory Marshall is pioneering the world’s first NFT superyacht new build project. The client will customise their superyacht in the metaverse using the first-of-its-kind augmented reality technology.”
The custom-designed superyacht NFT will cost US$95 million (SG$12,91,14,500) and will be built by the company Delta Marine in Seattle.
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Marshall’s previously designed virtual vessel, which was minted using OpenSea, was a 110-footer. This yacht will be built, over a span of 36 months, by the company Tactical Custom Boats in Canada. The process will cost about USD 12 million (SGD 1,63,09,740).
Once this yacht is complete, both Tactical Custom Boats and Cloud Yachts will mint another NFT that will feature all the metadata from the building process of the superyacht, which will simplify everything for the owner.
Marshall, who showcased the NFT at previously-held boat shows, is still amazed by the response he received. At the upcoming Palm Beach International Boat Show, he will be showcasing his hull number two NFT.
Perks for the owners of Cloud Yachts NFTs
The NFT owners will get VIP access to exclusive events such as superyacht shows and parties among other things. They will also receive various other world-class benefits across different sectors as the company has partnered with multiple brands.
(Main and Feature Image Credit: opensea.io)