Boat Coin aims to decentralize luxury yacht ownerships. It seeks to introduce crypto assets that are backed by a particular real estate in the real world such as specific luxury yachts.
This will create an exposure towards the luxury yacht market for the crypto assets holders such as rental charter income. However, the main benefit is, you can become a part owner in a luxury yacht for a fraction of the normal investment.
The Boat Coins can also be used towards chartering yachts globally and towards high end luxury events on board luxury yachts. Boat Coin will be able to be integrated with other services on the Ethereum blockchain. Boat Coin is creating tokens (digital assets) backed by real estate (luxury yachts) with its unique Token ID for every yacht that is listed on the platform. Every Token ID will have its own cap of tokens available/created, its own valuation – based on the yacht that is backing it, and its own track record (of price movements, rental income/dividend, and so on).
They want to democratise luxury yacht opportunities to be accessible by everyone, wherever they are. By buying and selling tokens, you are in a way buying and selling fractions of the underlying yacht. They created a structure to create the link between the tokens and the actual properties. They are the stock market for luxury yachts.
It will transform boat ownership making it possible to enjoy luxury living without the luxury prices.
It will also enable existing boat owners to sell down some equity in their yachts for time periods when the yacht is often sitting idle. Moreover, it will enable them to access other yachts globally in different locations by using Boat Coin to either charter or acquire a stake in a yacht.
The following two yachts are an examples of luxury yachts you can be a part owner of by participating in seed rounds before Boat Coin is released for Public sale.