Whatever sector a company is operating in, there’s an increasing likelihood that it is making plans to utilize cryptocurrency or NFTs. These digital assets exist on a ledger called the blockchain and make up the fundamental elements of a concept known as the metaverse.
The metaverse (or Web3) transition is easier for businesses that already have a digital footprint. For example, the social media company Facebook recently changed its name to Meta. The CEO of internet marketing agency CratosAM, Adam Multz, today announced the launch of a Web3-based venture in the maritime space.
The business, named Ape Yacht Charters in reference to the popular NFT and cryptocurrency, is an offshoot of CratosAM. Multz has stated the venture is currently in a soft launch; all technological infrastructure is in place, but advertising investment has so far been limited. However, bookings are now open to consumers.
Luxury yachts are rising in popularity among a new wave of entrepreneurs who primarily earn their income through trading blockchain-based assets. Multz’s announcement comes during an attitude shift in the purchasing habits of millennial and Gen Z entrepreneurs. Where previously permanent assets such as cars and real estate were the most desirable investments, many young wealthy individuals seek unique experiences instead.
“All my team loves to go out on yachts—it’s part of our lifestyle here in Florida,” Multz commented. “We launched Ape Yacht Charters with the same concept as CratosAM but a slightly different ideology. This venture is about offering day trips on yachts with massages, bling, and other luxury staples, while the existing business is a full-on advertising and marketing company.”
While the boating experience business may not inherently seem rooted in the digital sphere, Ape Yacht Charters has two key ties to the Web3 world. It is a subsidiary of CratosAM, whose logo is a Bored Ape Yacht Club NFT, one of the most recognizable symbols in the metaverse.
Additionally, it is part of the wave of businesses accepting cryptocurrencies such as Bitcoin and Apecoin as payment for a charter experience.
It is thought that the in-house retention of a team member licensed for chartering contributed to the launch of Multz’s latest metaverse venture. Contacts are critical in the yacht hire industry, and the ability of business leaders to easily access boats can contribute to their sustainability and success.
For NFT and crypto enthusiasts, real-life utility is a crucial mechanism against what they term FUD (fear, uncertainty, and doubt) in the space.