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.