Our Startup Spotlight series introduces you to our community of innovators, highlighting their unique journeys. This week, we put the spotlight on Mustaa, who are building a platform for yacht businesses to showcase, communicate and sell their boats.
How did you come up with the idea for the business?
Our industry is often inspired by the question, "How do we get more people sailing?". We are no different. We get excited by leveraging Web3 and blockchain - a technology that Marcus started obsessing over while working at Feadship.
Finally, we have a chance for people, not corporations, to own the digital representation of items. How does that get more people into yachting? Well, now we can focus on building foundational digital standards that all developers can use without platform risk, ultimately making yachting accessible through digitalisation.
Why does the industry need the solution you're providing?
Shared ownership is the future of yachting. It's sustainable, enjoyable, and offers owners unprecedented freedom. Our digital standards and protocol are designed to amplify this openness and flexibility. It allows owners to hold a stake in both the benefits and responsibilities of yacht ownership while providing a tradable time system (SAIL points) on the open market. This means that owners can decide their level of involvement and exchange as much or as little of their time as they desire.
What have you enjoyed most about starting your own company?
The refinement process has been the most enjoyable. To build something you have to have a large vision but to start you have to constantly refine to get to the core product that people ultimately care about. Talking to people in the community and trying to build a feedback loop is rewarding.
What challenges did you have to overcome at the beginning of your journey?
We are still at the start of our journey! One of the challenges we face is speaking a language that is both understood by our community which cares about the technology and those who care about sailing. There is a core handful that cares about both, but we want more people to understand how important this is and join our community and our mission.
Any bits of advice for entrepreneurs getting started in this space?
Don't let overthinking paralyze you – action is key. We've gained significant traction and built valuable relationships due not to our idea (which is actually quite malleable) but simply by taking initiative. Whether it's picking up the phone, sending a DM, or drafting an email, proactive outreach is always beneficial in the long run.
What's the plan for the future of the business? Where do you see the company in 3-5 years?
We plan that in 3-5 years, the interoperable Digital Yacht Passport and Mustaa’s shared asset protocol becomes a go-to foundational solution for other developers. More importantly, we envision a future where more people are experiencing the joy of sailing on beautiful, luxurious yachts. By making yacht ownership more accessible and flexible, we hope to see more people witness the amazing engineering and craftsmanship that we love.
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