CEO Launches 'Bored Yachts Club'
The Bored Ape Yacht Club (BAYC) NFT collection just got a lot more exclusive. The Bored Yachts Club is the creation of yacht owner Jad Comair. According to Comair, there are plenty of apes in BAYC, yet very few yachts. He is setting out to fill this void in a creative way by tokenizing yacht rentals, creating a marina-based crypto-city.
Bored Yachts Club
The venture seeks to tokenize yacht rentals using the BAYC brand as a springboard. Becoming a member of the Bored Yachts Club (BYC) requires one to own a yacht and hold an exclusive Bored Yachts Club NFT. After this, the owner can lease their yacht to interested parties who also own a BYC NFT.
The BYC collection will comprise 8,200 NFT passes, each with their own level of benefits, and is set to drop on Ethereum later this year. The crypto funds that are raised from the leasing bids will go to supporting charities of the yacht owner’s choice. Comair is committing to the venture by leasing out his own 30-meter yacht, ‘Lady Amanda’, which is moored in Cannes, France.
Jad Comair is the CEO of Melanion Capital, a French investment enterprise that has launched its own Bitcoin-styled ETF. Comair, an art collector, became a fan of the Nored Apes during the NFT bull run of 2021, purchasing Ape #634.
NFT benefits
Jad Comair has future plans for Bored Yachts Club including bringing in yacht owners from around the world to create a web3 ‘yachtverse’, a sort of marina-based crypto city. Following this year’s drop of the Bored Yachts Club NFT, Comair plans to launch a YachtCoin that will contribute both to the yacht charter and charities involved, which are yet to be announced.
NFTs like Bored Yachts Club are what the market needs to see right now – utility. Amid the current bear market, investors are fatigued with degen art that has little to no use. Many creators are taking notice of this void in the marketplace. As the minimal quantity of yachts in BAYC needs to increase, so do the creative forms of utility in the broader NFT market. Entrepreneurs like Jad Comair see this and are taking action in the right ways, not only to provide experiences for the market to help charitable causes simultaneously.
