Dogecoin to be Accepted as Payment for a $10 Million Yacht

Hassan Maishera
Published: Nov 30, 2021, 18:31 GMT+00:00

Cryptocurrencies are gaining adoption as payment methods in various industries, and luxury products is another fast-growing area.


Cryptocurrencies have gained adoption in the luxury world in recent months. Bitcoin and Ether have been accepted as payment for some high-end artworks. The adoption is set to continue, and more cryptocurrencies will be accepted as payment options for luxury products.

VIANNE’s Owner Open to Accepting Payment in Doge

The owners of the Italian-built Benetti 52m (170 ft.) superyacht VIANNE have revealed that they are  open to accepting payment for the product in cryptocurrencies. The owner will accept 10% of the payment in fiat currencies and the remaining in cryptocurrencies.

According to the press release, the cryptocurrencies that would be accepted include Bitcoin, Ether, Dogecoin, Solana, Binance Coin and Fantom. Bitcoin and Ether have been used as payment options for luxury products in the past, including art auctions by Sotheby’s and others. However, Doge, a meme coin, has not gained massive adoption in the luxury product sector.

In addition to cryptocurrencies, the owner is open to accepting payment in nonfungible tokens (NFTs). The permitted NFTs include Cryptopunks and BAYC Apes. The press release said, “Whilst cryptocurrency payments are increasing in the yachting industry, this would make VIANNE the largest ever yacht to be purchased with NFTs. This is an exciting prospect for many prospective global buyers and presents a unique opportunity for a yacht of this size to be sold in NFTs only.”

Vianne was built by Benetti Yachts, one of Europe’s oldest luxury yacht builders, Benetti’s varied portfolio includes semi-custom and custom luxury yachts and superyachts constructed in FRP, aluminum and steel.

Cryptocurrencies are Gaining Adoption in the Luxury World

The adoption of cryptocurrencies for the sale of the Vianne yacht shows that cryptocurrencies are becoming popular in the luxury products world. Over the past few months, numerous arts and NFTs were auctioned and sold by popular auction houses such as Sotheby’s.

Earlier this year, Kessler Collection, a luxury hotel group in the United States, announced that it has started accepting cryptocurrencies as payment. Some of the accepted cryptocurrencies include BTC, Bitcoin Cash and DOGE.

Dogecoin has underperformed in recent weeks, with its price down by more than 19% over the past months. Year-to-date, DOGE’s price is up by more than 6,000%, outperforming numerous other cryptocurrencies.

About the Author

Hassan is a Nigerian-based financial Journalist and cryptocurrency investor.

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