Coachella will soon auction off lifetime festival passes as NFTs

Coachella has announced it will be partnering with FTX US to auction off lifetime passes to all of its festivals as NFTs.

Published
Updated
1 minute & 3 seconds read time

Despite the mainstream hate of Non-Fungible Tokens (NFTs), one of the world's largest festivals is fully adopting them by offering lifetime passes to all of its concerts.

Coachella will soon auction off lifetime festival passes as NFTs 01

Coachella Valley Music & Arts has partnered with FTX US to release a selection of NFTs that are built on the Solana blockchain. According to the announcement, Coachella will auction off 10 key NFT's that will serve as lifetime passes to all Coachella festivals. The keys also come with perks for the Coachella 2022, such as front row access, dinner made by a celebrity chef, or on-stage access at a Sahara Tent.

Additionally, Coachella is releasing two more collections of NFTs, one will include a 1,000-piece collection that will start at $180 apiece that will allow buyers to redeem a physical photo book from the festival and the other being a 10,000-piece digital collection that starts at $60 apiece. Coachella will be auctioning these NFTs on its own website as well as the FTX NFT marketplace.

Coachella will soon auction off lifetime festival passes as NFTs 02

"Since each NFT is a permanent record verified on a blockchain, they have the unique capability to securely guarantee their owner permanent rights to [in real life] experiences too. We think lifetime access to Coachella is a perfect use case for NFTs. These Coachella Keys are digital items that provide real value to their owners over the long term," said Sam Schoonover, Coachella's Innovation Lead, to Decrypt.

NEWS SOURCE:decrypt.co

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

Newsletter Subscription

Related Tags