In addition to the first-of-its-kind NFT, a $12 million NFT of a 110-foot Explorer has been sold and is currently under construction.
Cloud Yachts has partnered with esteemed designer Gregory C. if you’re looking for something more rare than non-fungible art and metaverse-exclusive sneakers. The design for a 206-foot custom superyacht to be built by Delta Marine in Seattle has been turned into a $95 million NFT—paid in crypto, naturally.
Neither the yachting industry nor the NFT space has seen anything like it before. The idea makes sense to Marshall, who founded his own naval architecture firm in 1994, especially since he already offers owners virtual tours of yacht designs from anywhere in the world, using holographic technology.
“We create roughly a million digital pieces for a typical superyacht project, but [those] often end up scattered across many computers,” he notes. “This NFT is a digital twin of the real vessel—an archival tool where you can keep all the data in one place.”
Because the NFT is located on the Ethereum blockchain, it’s virtually tamper-proof, and it goes beyond design to include all technical data on the systems and structures.
Crypto payments will be handled by Cloud Yachts, founded by tech veteran Zach Mandelstein as the “world’s first digital yacht dealer in the metaverse.” A number of less expensive NFTs, single pieces of digital art priced at a single Ethereum, or about $3,000. Mandelstein is also working with Bannenberg & Rowell, David Weiss and Marco Casali.
Although no buyer has been found for the $95 million yacht, Tactical Custom Boats is building a 110-foot explorer NFT designed by Marshall.
There is a learning curve associated with such an unconventional process. “We all recognize mistakes will be made,” Marshall acknowledges. The 110-footer’s first installment was sent to the wrong account. At least judging by the interest that followed the announcement of the $95 million NFT project in February, the designer believes that NFTs will become commonplace. “We were astonished by the response,” he concludes. “People were coming out of the woodwork.”
