A megayacht selling for $650,000 doesn’t seem like a lot of money. However, when the yacht in question is the Metaflower megayacht, an NFT, it’s an eyebrow-raiser. In fact, it’s the most expensive NFT sold to date in one particular virtual gaming world.
NFT stands for Non-Fungible Token. It’s a one-of-a-kind digital asset with verified ownership rights. Essentially anything, from an autograph to music, can be turned into an NFT, with much of the current buzz pertaining to digital art. Additionally, as with anything highly collectible, values rise dramatically depending on the rarity.
As for the Metaflower megayacht NFT, it comes from a developer called Republic Realm. Republic Realm released it specifically for a series of luxury NFTs called The Fantasy Collection, in a virtual world called The Sandbox. For perspective, The Fantasy Collection includes things like private islands, PWCs, and powerboats—all NFTs, of course. When someone buys one of these NFTs in The Sandbox, they can continue to add to their collection and even monetize it.
This may be why the Metaflower megayacht NFT commanded such a handsome sum. Increasingly, luxury-oriented NFTs have attracted a lot of interest. Furthermore, in some cases, they garner millions of dollars due to their high coveted status. For example, another virtual world called Decentraland saw someone pay $2.43 million for a “plot” of land.
The owner of Metaflower technically paid the equivalent of $650,000 for ownership—using cryptocurrency called ether. Regardless, ownership comes with some pretty nice perks that real megayachts offer, like a hot tub and two helipads. A DJ booth is onboard, too, all of which you can see in the short video above.
If you’re wondering where someone keeps a megayacht NFT, the answer is simple. The Sandbox has a Fantasy Marina for The Fantasy Collection. Naturally.
Republic Realm republicrealm.com
The Sandbox sandbox.game