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Wild concept yacht is a floating replica of Monaco

Each year, jet setters and socialites flock to Monaco to watch the Grand Prix and soak up the Mediterranean sun.

If plans for a new superyacht called "The Streets of Monaco" are brought to fruition, that experience could be recreated on a floating city measuring more than 500 feet long (about half the size of a modern cruise ship).

The plans, released by Yacht Island Design, show an expansive deck featuring replicas of Monaco's most recognizable landmarks, including the Grand Prix track, Hotel de Paris and Port Hercule.

Click here for the full report with renderings of the odd design.