Yacht Manufacturer Tactical Custom Boats completes the first NFT sale on the blockchain for a new 110ft yacht..
The world’s very first NFT yacht sale has been completed on the Ethereum Blockchain.
Designed by Gregory C. Marshall, the 110-footer will be built in Canada by Tactical Custom Boats with the build expected to take around 36 months and at a cost of 12 million dollars.
Upon completion Cloud Yachts & Tactical Custom Boats will mint a second NFT for the owner which will house all the metadata from the build. "We are constantly looking for new ways to improve the build experience for our clients. We teamed up with Cloud Yachts to see if we could use NFTs to simplify a complex build process." says Tim Charles, CEO of Tactical Custom Boats.
The owner of Tactical 110 NFT new build is a businessman from Texas, who thinks the entire concept is not only clever but has immense real-life value. "We see a unique opportunity to use this new technology while building our custom yacht. We like the idea of pioneering a new process and were happy to explore the best use of NFTs for the owners. The NFT I bought this week seems to be useful in ways I had never imagined; like having all the data from my vessel at my fingertips. It's fascinating to watch Tactical Custom Boats, Greg Marshall, and Cloud Yachts apply this technology to the build process. It will be a real adventure, Just like traveling the world in an expedition yacht like the Tactical 110," said the owner Tactical 110 - hull #1
The hull #2 NFT will be available for purchase through Alex G Clarke and Denison Yachting at the Palm Beach International Boat Show which starts March 24. "I've worked extensively with Tim over the years and he is extremely creative so it's no surprise one of his clients wanted to pioneer the use of NFTs on a new construction yacht. The owner of hull #1 is a team player and without judgment is allowing us to develop and streamline a process that we will be able to apply to future builds. Our end goal is to make a complex 2-3 year build period a better, more efficient experience for him. We all understand that this process will develop and become more complex as the project takes shape. Every day we learn a little more and seem to find a new application for this technology and it's clear this is just the beginning," says Clark.