Metaverse yacht company Cyber Yachts has been awarded patent-pending status by the United States Patent and Trademark Office (USPTO). The patents relate to revolutionary technology developed for Cyber Yachts’ NFT and metaverse projects.
The company says that it is on track for a summer launch of its slate of metaverse and in-real-life (IRL) events. The first series of events include NFT drops coupled with virtual performances from award-winning and emerging musical artists and celebrities.
Cyber Yachts has developed groundbreaking intellectual property that allows non-fungible tokens (NFTs) associated with a blockchain to interact with data objects in a metaverse. The Cyber Yachts metaverse environment will grant credentialled users access via NFTs, and also provide a mechanism for users to access data objects in the virtual environment.
The newly issued patent-pending designation allows the company to protect its proprietary technology, inventions, and improvements that are commercially important to the development of its business. In addition, the company utilizes the most effective and efficient intellectual property instruments, including patents, trademarks, and trade secrets to achieve these goals.
Certain Cyber Yachts NFTs may also be configured to include an option to be built in the real world (the physical, non-virtual world). Imagine the purchase of a luxury mega yacht NFT that gives the buyer the option to also receive the fully-built, physical mega yacht by a world- renowned shipyard based on the same design. These developments will provide a unique bridge between the metaverse and real-life. This also allows Cyber Yachts NFT holders to access concerts, parties, events, lounges, and other immersive experiences in the metaverse.
Announced last month, Cyber Yachts will be launching the world’s most expensive NFT – a 120 meter (394 foot) mega yacht named “Indah,” priced at $400,000,000 USD. In addition to the NFT, the buyer will also receive the real-world, fully constructed 394 foot mega yacht based on the same design, built by one of the world’s most respected luxury yacht shipbuilders.
The Indah NFT along with its real-life mega yacht can be purchased with Ethereum (ETH), Bitcoin (BTC) and Bitcoin Latinum (LTNM). The company has signed several of the world’s top luxury mega yacht designers for upcoming collections of extraordinary yachts.
Market research firms have projected the global yacht market to hit $12.16 billion by 2028, up from $8.15 billion in 2020. During the pandemic, the number of billionaires in the world climbed from 2,095 to 2,755, and their cumulative wealth increased by 60 percent, or $5 trillion.
Cyber Yachts is positioning itself well in a lucrative NFT market. Another major bank recently increased its market-cap forecast for the NFT market to $80 billion by 2050, with double digit growth for the next five years.
One major NFT company recently raised $450 million from leading venture capital firms, valuing the company at $4 billion. This marked one of the largest seed rounds for any NFT collection to date.