Wednesday, June 12, 2024

Coachella Collaborates with FTX to Auction Lifetime Passes as NFTs

According to online news sources, the Coachella Valley Music and Arts Festival is reportedly going to launch its first NFT collection, which will be called the Coachella Keys Collection. This NFT collection will consist of lifetime passes to the Coachella festival.

As per the announcement made by the festival authorities, the 10 NFTs in this collection will be auctioned off starting February 4, 2022. In addition to the lifetime passes, these NFTs will also provide the people with an opportunity for VIP experiences. The exclusive experiences can include front-row tickets to the stage, access to the Sahara Tent, and dinner by a celebrity chef at the Rose Garden. It has been found that the headliners at the 2022 Coachella festival will consist of Kanye West, Harry Styles, and Billie Eilish, among others.

The Innovation Lead for the Coachella festival, Sam Schoonover, said during an interview that he believes that NFTs provide people with true ownership of media and art. He added that Coachella wanted to take the element of ownership a step further by providing the people with ownership of real-world experiences too.

Besides the NFTs that will be auctioned during the Coachella Keys Auction, the festival authorities will also be offering two other NFT collections on the FTX platform. These collections will consist of physical posters, digital collectibles, photo books, etc. Here are the details of these collections –

  • Sights & Sounds Collection – 10,000 NFTs, which will come with 10 digital photos of the festival and one print photo.
  • Desert Reflection Collection – 1,000 NFTs, which will include 10 digital Coachella posters by Emek, besides a photo book called The Photographs 1999-2019.
Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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