MY OCEAN
My Ocean, a premier super yacht sales and charter broker located in Dubai, London and Monaco provides clients seeking luxurious yacht experiences with exceptional services. My Ocean provides an extensive range of yachts for sale and charter, ensuring that customers have access to the best selection of yachts available. My Ocean has a wealth of knowledge and experience in the industry.
The team at My Ocean is dedicated to providing top-notch customer service and personalized service to satisfy each client’s particular demands. My Ocean’s team of experienced professionals will guide you through every step of the way, guaranteeing that your experience is nothing short of spectacular, irrespective of whether you are looking to buy a yacht or start an exciting charter experience. To give a great example, My Ocean has fully facilitated the longest charter ever on M/Y Flying Fox (1 month).
In addition, they take on a superyacht management role, which entails overseeing a superyacht from concept design to maiden voyage and beyond. Including the design, picking the shipyard, overseeing the daily progress, and ensuring that all suppliers adhere to the strictest requirements. In addition to overseeing all daily operations, this position also controls technical, staff deployment, accounting, administration, permits, and 7-star concierge services.
My Ocean differs from other brokers and management firms in that they accept cryptocurrencies like Bitcoin and are entirely online and mobile-based, facilitating a process that is considerably smoother than usual.
Fractional Yacht Ownership
Love yachts? With the revolutionary power of blockchain technology, you can enjoy the distinctive experience of possessing a luxury yacht without having to pay the price of sole ownership
Although the idea of fractionalizing yacht ownership is not new, it is however extremely complex due to numerous problematic laws and contracts. Nevertheless, we believe that adopting NFTs will transform the way individuals buy and sell yachts by allowing for digital asset ownership. Anyone will then be able to choose to own a share of a yacht and receive compensation while renting the yacht, thanks to this innovative approach.
Those who purchase the NFTs will own a portion of the yacht. If the holder has all of the fractional tokens or NFTs in the collection, they will be able to use these NFTs to assert possession of the asset. This new stage in the development of blockchain technology makes it possible for these shares to be easily liquid and transferable, which is unheard of in the yachting sector!
The issue it resolves
In 2022, boat sales soared to a 15-year high. Whether rented or owned, yachts are the safest form of transportation for holiday and travel. People have come to understand that using a yacht allows you to travel in complete comfort, manage your environment, and escape any pandemic or catastrophe. Similarly, they can be employed as a secret workplace far away from prying eyes.
The global yacht industry is anticipated to increase between 2021 and 2028 at a compound annual growth rate (CAGR) of 5.2%, according to a Grand View Research analysis dated April 2021. The market for yacht charters worldwide is anticipated to increase by 6.6% CAGR from $6.83 billion in 2020 to $10.82 billion in 2027.
Customers
Due to fabrication backlogs, charter businesses may wait up to 6 years before receiving new vessels and cannot operate or grow their business during this time.
Thanks to the rising number of YouTubers and social media influencers, including crypto millionaires, Pleasure Yachts now voyage across every sea, stopping at tropical locations, and scuba diving in crystal-clear, blue water have also grown in popularity.
By lowering running and maintenance expenses, fractional ownership is known to be a more economical method to buy a stake in a boat, but it’s also out of the ordinary person’s price range.
You can own a portion of a yacht using this investment method without needing to buy the entire yacht. And what’s even better is that it is Blockchain-powered, making it safe, open, and effective.
In simple terms
It’s a straightforward idea—up to five co-owners can share the advantages of yacht ownership while splitting the cost of maintaining and operating the boat. It is the simplest approach to accomplish your sailing goals with the least amount of effort and sooner than you could otherwise. Your favorite vacation spots are always open to you, and you are free to utilize the yacht anyway you choose.
On the flipside
People have historically formed partnerships to share ownership of expensive assets, but up until now, they have had to handle the administrative details on their own. Although joint ownership has many advantages, most people find the setup to be too difficult. Finding the ideal partners—yacht builders, charter companies, and yacht management partners—establishing those agreements, and handling the administrative aspects of ownership of a shared asset can take time and be challenging.
Here, we ask Jonny Dodge (BRITISH ENTREPRENEUR & EXPLORER) to shed more light on the subject.
Do you believe that fractional ownership enabled by blockchain simplifies the aforementioned problematic processes?
I believe that embracing blockchain technology for fractional yacht ownership can significantly simplify processes and open up new possibilities. Embracing the revolutionary power of blockchain technology for fractional yacht ownership has the potential to do more than just simplify processes. It can transform the entire industry, making it more accessible, efficient, and exciting for enthusiasts and investors alike. Imagine a world where traditional barriers to entry are dismantled, and ownership becomes more inclusive, dynamic, and secure than ever before. As the industry evolves to support this innovative approach, it has the potential to redefine the way we think about yacht ownership and inspire a brighter, more inclusive future for all.
Is it possible to say that the concept we briefly discussed above genuinely gives owners FREE yacht use or that it is a good investment for a passive income?
We can confidently say that the blockchain-powered fractional yacht ownership model has the potential to revolutionize investment structures and create additional revenue streams, which could ultimately make yacht usage more cost-effective for owners.
While it may not lead to entirely “free” yacht usage, the innovative approach can indeed transform yacht ownership into an attractive investment for passive income generation. Blockchain technology enables tokenization of yacht shares, allowing fractional owners to benefit from the charter revenues generated by the yacht. This can help offset the costs of ownership and even generate a profit, depending on the yacht’s popularity and utilization.
Typically, assets like real estate appreciate in value over time, but as we all know, yachts lose value over time. Do you still believe that purchasing a yacht for chartering could be profitable for you?
I believe that investing in yachts for chartering, particularly those that have already experienced depreciation, can still bring financial benefits. This approach, combined with the advantages of blockchain technology, can create additional liquidity and financial flexibility for yacht investments.
While it’s true that yachts typically lose value over time, focusing on chartering well-maintained, older yachts can result in lower initial investment costs while still generating revenue from charters. Additionally, the blockchain structure allows for tokenization of yacht shares, making them more liquid and easily transferable.
This increased liquidity and financial flexibility can attract a wider range of investors and make yacht investments more appealing.
What about Operating Costs, Yacht Management, and Maintenance? Could MY OCEAN be the ideal partner for that? Could you create such a program for PAR EXCELLENCE clients?
Our extensive experience in both the yachting industry and blockchain technology enables us to develop a sophisticated and efficient solution tailored to the unique needs of our clients. By leveraging the power of blockchain, we can streamline processes, increase transparency, and create a secure and user-friendly platform for managing all aspects of yacht ownership.
About Jonny Dodge
Jonny is the founder of My Ocean Company – a Yacht Sales, Charter, & Management company that’s one of the fastest growing businesses in the yacht industry, and the biggest crypto charter brokers. He’s also the CEO of GP Management, a F1 Hospitality & Corporate Travel Incentives company. Famed for his billionaire black book, from the likes of Elon Musk to Richard Branson, one of Jonny’s company Space Experiences was one of the first companies ever to send clients on suborbital flights to space, and he’s currently an astronaut-in-training himself, so the sky is the limit.
Jonny cut his teeth in the entertainment world from owning clubs and partying with celebrities on the Gumball Rally, before being given his big break in Formula 1 by Bernie Ecclestone. GPM manages a portfolio of owned and operated experiences, and events including hospitality & event rights across Formula One, Adventure Travel, Celebrity Experiences, Space Tourism, Yachts & Jet experiences and adventures.
The company’s brands have included: The Grand Prix Ball – F1, Rocks™ The Afterparty, Race Week Festival, Concours d’Elegance luxury show, Dodgeball Supercar Rally – Torch Beach Club, Race Forum Conference, and Aura Mayfair members club.
After graduating his Master from St Martin’s College, Jonny’s career has seen him involved in a number events ranging from airlifting 100 supercars and negotiating with governments while organizing the Gumball Rally, to the first ever tourist trip to the center of Antarctica, and to the more mundane concerts and film premieres.
Other previous investments have included prestigious Nightclub brand – Aura, renowned for its celebrity clientele, owned in part by airline mogul Tony Fernandes, and regular haunt of Madonna who was rumored to have tried to buy the club.
An adventurer and entrepreneur, Jonny as has trekked everywhere from Antarctica to the Amazon Jungle and survived on a desert island to name a few, as well as the 7 wonders of the world in-between.
Jonny is currently working his way into the Guinness World Record for the fast crossing of Antarctica by car, and completing the 7 summits by climbing the highest peaks on the 7 continents.
Dubbed by Forbes magazine as ‘The superyacht influencer’, Jonny closed one of the biggest yacht charter deals in history for over a month on the world largest superyacht charter on the 136 meters Lurssen-built Flying Fox.
Our Future Plans
Having said that, we would like to extend an invitation to you to keep an eye on our yacht fractional ownership program, where we will be introducing a number of yachts that are available for purchase through NFTs in our upcoming NFT Luxury Marketplace, from classic yachts to superyachts, in partnership with a number of Naval Architects and a number of different Shipyards.
