BY APB STAFF on 22 Mar 2022

The sale is believed to be the first NFT yacht sale transaction on the Ethereum blockchain, and comes with a real Tactical 110 superyacht

‘Digital yacht broker’ Cloud Yachts has confirmed the sale of a 33.5-metre Tactical 110 NFT to an American owner, in what is believed to be the first NFT yacht sale transaction on the Ethereum blockchain.

Tactical Custom Boats and the owner say they 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 US$12 million.

At completion, Cloud Yachts and Tactical Custom Boats will mint a second NFT for the owner, which will house 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 new build project,” says Tim Charles, CEO of Tactical Custom Boats.

The owner of the Tactical 110 NFT new build is a businessman from Texas. “We see a unique opportunity to use this new technology while building our custom yacht,” he says in a statement. “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 travelling the world in an expedition yacht like the Tactical 110.”

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,” says Clark. “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.”

The news comes soon after Cloud Yachts announced that 63-metre NFT Project Metaverse, also designed by Gregory C Marshall, had been listed for sale on the blockchain. The US$95m project will debut at the upcoming Palm Beach International Boat Show and will be built by American shipyard Delta Marine. If sold, Project Metaverse will be the highest price ever paid for an NFT.