$12 Billion. That’s the massive amount that the world’s first NFT (non fungible token) superyacht sale fetched last week on the Ethereum Blockchain, as per American luxury-lifestyle magazine RobbReport

Designed by Gregory C. Marshall, the 110-footer yacht will reportedly be built in Canada by Tactical Custom Boats

US Man Buys World’s First NFT Superyacht For $12 MillionCloud Yachts

Also Read: After Raising Over $70Million For NFT Game Pixelmon, Founder Calls Artwork Reveal A ‘Mistake’

And this last week’s 110-footer superyacht, which was minted via NFT marketplace Opensea, is expected to take about 36 months to build, with a cost of about $12 million. Upon completion, Cloud Yachts and Tactical Custom Boats will mint a second NFT for the owner with all metadata from the build and the owner will receive his new explorer yacht.

Tactical Custom Boats CEO Tim Charles reportedly said he decided to use an NFT business model to “simplify” what is often a complex build process. All design and build data will be integrated into the NFT file. He further said in a statement “The first client we presented the opportunity to loved the idea.”.

An Unnamed Texas Businessman Is The Owner

US Man Buys World’s First NFT Superyacht For $12 Millionshutterstock

Also Read: This Indonesian Student’s ‘$3 NFT Selfies’ Are Now Worth Millions!

The unnamed owner of the NFT yacht is reportedly a Texas businessman, who said in a statement “We like the idea of pioneering a new process. The NFT could prove “useful in ways I had never imagined—like having all the data from my vessel at my fingertips. It will be a real adventure.”

The hull number two NFT will be marketed next week at the Palm Beach International Boat Show through Tactical and Denison SuperYachts, as per RobbReport

Designer’s Statement

Designer Marshall reportedly said “everyone is still trying to figure out how the process will work. In fact, the initial crypto payment went to the wrong payee. We had it sorted out in an hour and had a good laugh about it. But we all recognize that mistakes will be made during the process.”

The award-winning designer said he was surprised by the response after the Cloud Yachts initiative was launched at the Miami show. “The response was astonishing to us, people were coming out of the woodwork,” he says, noting that several of the NFTs sold during the Miami show have already been resold.

Also Read: This 15-year-old Artist’s NFT Sales Are Already Worth More Than $1 Million

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