Coachella and crypto exchange company FTX have partnered to offer lifetime festival passes as exclusive NFTs. The annual music and arts festival will auction ten one-of-one NFTs in its “Coachella Keys Collection” minted on the Solana blockchain.
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Each NFT grants lifetime festival access as well as VIP on-site experiences for the upcoming 2022 festival. Additionally, pass holders will gain front row access to the Coachella Stage and onstage access at the Sahara Tent. The most surprising gift included in the package is the chance to have dinner prepared by a celebrity chef. In conjunction with the announcement, Sam Schoonover, Innovation Lead for Coachella, had this to say:
“We’ve all seen how NFTs enable true ownership of art and media on the internet. We wanted to take it one step further and use NFTs to enable ownership of experiences in the real world, too. Only blockchain technology can give us the unique ability to offer tradable lifetime passes to Coachella for the first time ever. We’re excited about building new utility and community for our fans with NFTs, and in FTX we found the partner that we trust to provide us with infrastructure and support to help us usher in this new frontier.”
The “Keys Collection” is just the first move in the grand unveiling of Coachella’s NFT marketplace. The festival will offer two additional collections linked to various digital and physical gifts. The “Sights and Sounds Collection” features 10,000 NFTs of limited edition soundscapes and photos for $60 USD each. Similarly, the “Desert Reflections Collection” celebrates Coachella’s 20-year history with 1,000 NFTs for $180 USD each. Additionally, “Desert Reflections” NFT tokens can be redeemed for a physical copy of the Coachella | The Photographs: 1999-2019 photobook.
Bidding for the three NFT collections begins on February 4 at 10 a.m. PST via Coachella’s virtual marketplace. Could we see more festivals doing this in the future? Let us know your thoughts in the comments section below! Lastly, Interscope Records Previews Unique LACMA Exhibition.
