25/06/2022

THAILAND DAILY

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This superyacht could be the next most expensive NFT

Lifestyle

Yours for just US$95 million.

by Kenneth Lee  /   March 22, 2022

Project Metaverse will be on sale at the Palm Beach International Boat Show in March. Photo: Cloud Yachts

With luxury automakers already aboard the non-fungible token (NFT) bandwagon, it was only a matter of time before superyachts got in on the action, too. 

Read: Project Metaverse, the suitably-named 63m yacht and NFT on sale at an eye-watering US$95 million (S$129 million) at the Palm Beach International Boat Show later this month.

That’s right: if sold, Project Metaverse will be more expensive than The Merge by mercurial artist Pak, the current record holder for the priciest NFT ever at US$91.8 million – a price tag that, admittedly, was split among its 28,983 collectors.

Project Metaverse, by Gregory Marshall Naval Architects, Delta Marine and Cloud Yachts
Photo: Cloud Yachts

As the name suggests, augmented reality technology will play a part in helping the ship’s owner build the superyacht of their dreams. But Project Metaverse comes with the physical goods, too: apart from owning the NFT, buyers will actually have, well, a 63m superyacht to enjoy, one built by American shipyard Delta Marine.

The ship is based on a design by Gregory Marshall, the man behind Artefact – a S$204 million, 80-metre environmentally conscious vessel that won Motor Yacht of the Year at the 2021 World Superyacht Awards.

It’s Marshall’s second time releasing a yacht NFT: An earlier collaboration with Cloud Yachts saw his superyacht designs released as NFTs at the 2022 Miami International Boat Show. Ten of these sold for a cool 1 ETH each (valued at S$3,492 as of press time).

Project Metaverse, by Gregory Marshall Naval Architects, Delta Marine and Cloud Yachts
Photo: Cloud Yachts

Other recent developments in the world of superyachts and NFTs include Netherlands-based Oceanco’s release of Superyacht NFTs. Like Cloud Yachts’ drop in Miami, Superyacht NFTs entails selling yacht designs gussied up with unique design elements, themes and settings. NFT holders will also be granted special access to collectibles and other benefits that (physical) money can’t buy.

(Related: For $800 million, this flying superyacht can be a reality)

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