NFT: Superyacht Sold For $12 Million, To Be Built In Canada In 36 Months

$12M. According to the American luxury lifestyle magazine RobbReport, the world’s first NFT (non-fungible token) superyacht auction on the Ethereum Blockchain last week earned $1.5 million.

Tactical Custom Boats will allegedly build the 110-foot boat designed by Gregory C. Marshall.

The 110-footer superyacht minted last week through NFT marketplace Opensea is projected to take 36 months to construct and cost about $12 million. The owner will get a second NFT with full construction details from Cloud Yachts and Tactical Custom Boats and will receive his new explorer boat.

Tim Charles, CEO of Tactical Custom Boats, apparently chose an NFT business model to “simplify” the normally difficult construction process. The NFT file will include all design and construction data. “The first customer we provided the possibility to appreciate the idea,” he said.

Owner: An Unnamed Texas Businessman

“We appreciate the concept of pioneering a new process,” said the anonymous owner of the NFT vessel. The NFT may be “useful in ways I never imagined—like having all my vessel’s data at my fingertips.” An adventure awaits.”

According to RobbReport, Tactical and Denison SuperYachts will advertise NFT #2 next week at the Palm Beach International Boat Show.

Designer’s Note

“Everyone is still figuring out how the process will work,” Marshall allegedly stated. The first crypto payment went to the incorrect person. We solved it in an hour and had a wonderful chuckle. But we all know that errors will be made.”

The reaction to the Cloud Yachts effort in Miami shocked the award-winning designer. He adds that many of the NFTs sold during the Miami exhibition had already been resold.