Coachella Launches Lifetime Passes As NFTs

Coachella and FTX.US have launched an NFT marketplace to allow festival tickets to be sold digitally as tokens.

Coachella NFTs hit the Market

NFT-holders are now available to music festival goers. Coachella today announced the launch its new NFT collection. On February 4, the three collections will be available on FTX.US’s marketplace. They can be purchased for festival passes and other memorabilia. Participating in the auction this Friday will allow interested parties to purchase NFTs. The NFTs will come minted on Solana. A portion of the proceeds will go to GiveDirectly and Lideres Campesinas as well as Find Food Bank.

The Three NFT Collections

The Coachella Keys Collection is one of the new collections. It features 10 NFTs which grant owners lifetime access to the festival’s first weekend every April. All Coachella Keys Collections owners get VIP perks such as special viewing areas on festival stages, lifetime camping at Safari Campgrounds (luxury tents starting at $9,500), and a private meal prepared by a professional chef. Each NFT in the collection comes with a unique festival perk that is only available to the owner. The Desert Reflections Collection and the Sights and Sound Collection are two other NFT collections that will be available.

What will NFT owners get?

The NFT can be sold to transfer the festival pass and other benefits to the new owner. However, the NFT must be validated before April 1st to gain festival access. Digital collectibles, in addition to the NFT collection are also available for sale. To receive printed art prints, owners can mint any NFT from our Sights and Sound Collection. The collection will contain 10,000 NFTs with fan-favorite festival images and unheard soundscapes. Each NFT is $60. Fans can also purchase any of the 1000 NFTs in the Desert Reflections collection for $180 to redeem a Coachella photo book.

Lollapalooza Was the First to Do It

All major brands and organizations have embraced the NFT trend. NFT-based ticketing systems were already in use by the NFL, which launched it back in November. Coachella isn’t the only festival to offer NFTs. Lollapalooza set the trend in 2021 with a collection of NFTs featuring tour posters from 1991 to 1993. Lollapalooza also featured musicians and celebrities such as Perry Farrell and Band of Horses’ Steve Aoki.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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https://cryptodaily.co.uk/2022/02/coachella-launches-lifetime-passes-as-nfts