It’s Coachella Festival’s turn to offer non-fungible tokens (NFTs). Those interested will be issued a lifetime ticket, as well as exclusive experiences. The whole thing is based on a partnership with the FTX.US platform
Tickets to Coachella as an NFT
As the official website shows, Coachella will also offer other forms of NFTs, such as digital photo albums, or artworks related to the festival. The centerpiece, however, is the collection of “keys”, which provide permanent access to the festival: there will be only ten of these. All of these will go on sale on Friday:
Introducing Coachella Collectibles NFTs Lifetime festival passes, digital collectibles redeemable for physical items & more available Friday at 10am PT at https://t.co/D8v4cD04wc
Explore our debut collections pic.twitter.com/eEPdVvxPhg
– Coachella (@coachella) February 1, 2022
Less expensive pieces will also be available for festival goers and fans of the event. The “Sight & Sounds” collection randomly mixes Coachella photos with sounds to form art pieces. These NFTs will be available for $60.00
A partnership with FTX.US
The Coachella NFT sale was made possible by a partnership with the exchange platform FTX.US. The blockchain chosen to produce (mint) the non-fungible tokens is Solana (SOL). According to the release, it was chosen over Ethereum (ETH) due to its lower transaction costs and better ecological efficiency.
The long-standing partnership with Coachella will not stop with NFTs. Sam Schoonover, the festival’s head of innovation, confirmed that the festival would eventually turn to the metaverse:
“As the metaverse continues to grow, we will create more opportunities for fans to have fun and have opportunities to interact with each other or their favourite artists. “
A trend to come
Coachella is the second major festival to feature NFTs in recent months. Lollapalooza had already taken the plunge last summer, offering non-fungible tokens based on Solana for sale. It is therefore safe to assume that the trend will be exported to other events of this type.
FTX.US, on the other hand, is once again showing its inordinate appetite. The platform has revealed a supercharged marketing approach in recent months, and seems determined to position itself on mainstream events to promote its services.
FTX.US had already invested heavily in the sports sector, with numerous partnerships. It is now tackling the field of music and festivals. And it seems to be doing well: yesterday we learned that the company has just completed a new round of financing. It is now worth 32 billion dollars
