The NFT was minted on Opensea on March 10, 2022, and is believed to be the first verified NFT yacht sale transaction on the Ethereum Blockchain.
Tactical Custom Boats and the owner decided to use NFT technology when their superyacht designer, Gregory C Marshall, introduced the idea after his own successful NFT drop with Cloud Yachts last month at the Miami Yacht Show.
The Tactical 110 NFT is now underway, the build is expected to take around 36 months and cost around $12 million USD. At completion Cloud Yachts & Tactical Custom Boats will mint a second NFT for the owner which will hold all 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. The first client we presented the opportunity to loved the idea. We are excited to work with the owner, Greg Marshall and Cloud Yachts on this NFT new build project," says Tim Charles, CEO of Tactical Custom Boats.
The owner of Tactical 110 NFT’s new build is a businessman from Texas who thinks the entire concept is not only clever but has tons of 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 Clarke.
