Updated: Mar 31
Originally posted by Forbes on Mar 28, 2023.
The world is moving way faster than when Ferris Bueller famously said, “Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.” And I have to admit, when it comes to web3, NFTs, blockchain and all things crypto, my knowledge is pretty limited.
However, I do know Cloud Yachts founder Zach Mandelstein. He’s been leading the charge to combine web3 technology with superyacht utility since his company partnered with the world’s top superyacht designers to pioneer the use of NFTs in the yachting industry last year.
And Cloud Yachts’ latest NFT drop that was announced last week at the 2023 Palm Beach International Boat Show is widely believed to be the world's first tokenized super yacht.
Now, don’t worry if you’re like me and haven’t quite caught up to the web3 world yet. Zach is really good at explaining why launching the world’s first ‘tokenized superyacht” is so revolutionary.
"When we partnered with the world’s top superyacht designers to pioneer the use of NFTs in the yachting industry last year, we quickly realized there are incredible commercial use cases for NFT technology within the yachting industry. We were first to market then and now, we’re even more excited to launch the world’s first ‘tokenized super yacht.’
Cloud Yachts is pioneering NFT utility by tokenizing this 94-foot-long Sunseeker that's docked right in front of the Fontainbleau Miami Beach. CLOUD YACHTS
“Cloud Yachts is tokenizing a 94-foot-long Sunseeker super yacht so we can provide high-end super yacht cruises to anyone who can afford a night out in Miami,” he adds. “Buyers can now purchase a Cloud Yachts SuperYacht NFT for $500, which guarantees them one cruise around Miami on our Sunseeker 94 for an entire year, starting in April 2023 and ending in April 2024.
“And since Cloud Yachts’ 94-foot-long Sunseeker is docked right in front of the Fontainbleau Miami Beach, NFT holders can easily and affordably experience the ‘Miami yacht life’ for a day.”
The way Cloud Yachts' 94-foot-long Sunseeker combines NFT tech with luxury yacht utility could be very very fun.
Holders of the NFT will also be alongside 11 other NFT holders, which Cloud Yachts say is exactly how web3 people want it. A weekly NFT mastermind super yacht cruise so to speak.
Shannon Allen, Cloud Yachts' web3 advisor and licensed superyacht broker with over $21,000,000 in superyacht sales in 2023 says, "Going on a superyacht in Miami is the ultimate luxury experience. And by tokenizing our Sunseeker 94, we create an entry point for people to see what it really feels like. People who help us tokenize our superyacht have real access to the yacht, and that's what makes this so exciting for a lot of people."
Jordan Truchan, Cloud Yachts' Vice President of Sales, who has 15 years of experience as a yacht captain says, " What sets Cloud Yachts apart as a leader is our ability to deliver on the ‘utility promise.’ Our NFT holders have the opportunity to touch and feel their goals in real life by attending multiple yacht shows, networking events and now a super yacht cruise in Miami.
I’ve captained 100’s of yacht charters and I can tell you there is absolutely zero chance you will get on a superyacht cruise in Miami for $500. We have created a very valuable NFT for a lot of people and are excited to offer luxurious real-life utility to our NFT holders.”
But when it comes to why tokenizing a superyacht in Miami is such a good idea, no one is a more knowledgeable source than BlackRock CEO, Larry Fink. "We are going to see more and more tokenization of assets,” he says. “We are talking about a lot of assets that aren't easily tradable, so you have to create a token. You may need to tokenize assets to make them more accessible to investors."
It's exciting to see how technology is changing the yachting industry, and it’s great to see Cloud Yachts leading the way.