For $20K you can own a hoverboard that actually flies — VIDEO

If you have ever dreamed of owning a hoverboard and flying through the air like Marty McFly in "Back to the Future," your dreams can now become a reality — for $20,000. 

According to CNN, Arca Space said it has created the $20,000 "Arcaboard," the latest hoverboard to hit the market.

Unlike the hoverboards that have become known for sometimes catching fire and being really difficult for some to actually ride, the "Arcaboard" really flies. 

Using 36 fans that generate 272 horsepower, Arca Space said the hoverboard can hover up to one foot off the ground. The board, which can travel 12.5 mph, can hover for up to six minutes.

Arca Space isn't the first company to develop a hoverboard, CNN noted. Lexus revealed it had developed a hoverboard (not sold to the general public) in 2015. In order for Lexus' hoverboard to work, it used magnetic levitation and required a special track.

Using "magnetic field architecture" (MFA) to hover, Arx Pax unveiled the "Hendo 2.0 Hoverboard" this past October.

Contact Caitlin Lilly at clilly@reviewjournal.com. Find her on Twitter: @caitiesmith