One of the largest music festivals in the United States is launching NFTs that will offer perks to those who buy them ahead of the highly anticipated 2022 festival.
What Happened: Coachella, one of the highest-grossing music festivals in the world, is launching Coachella Collectibles, a series of NFTs with real life benefits.
The NFTs come as a part of a partnership with FTX, a leading cryptocurrency exchange.
The collections are:
- Infinity Keys (10 available): NFTs provide lifetime tickets and VIP passes to Coachella Festival and other perks like front-row views at Coachella State, on-stage access at the Sahara Tent or a celebrity chef dinner in the Rose Garden. Also comes with lifetime access to Coachella produced virtual experiences. Will be auctioned off.
- Desert Reflections (1,000 available): NFT collection features 10 different Coachella Festival posters. The NFT will be redeemable for a photobook of photos from the festival from 1999 to 2019. $180 each.
- Sights and Sounds (10,000 available): Features 1,000 different iconic festival photographs with soundscapes. The NFTs will be redeemable for a print of the photograph. $60 each.
The Coachella Keys Collection marks the first time the festival has ever sold lifetime passes.
The NFTs will be minted on the Solana (CRYPTO: SOL) blockchain, which is known for low energy consumption.
“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,” Coachella Innovation Lead Sam Schoonover said.
Related Link: How To Buy NFTs
What’s Next: The NFT sales and auction will begin on Friday, Feb. 4, 2022 at 10 a.m. PST and last through Friday, Feb. 11 at 8 p.m. PST.
Customers can purchase the Coachella NFTs through the FTX website and depositing at least $60 via a credit card, bank transfer, wire transfer or cryptocurrency.
A NFT marketplace will offers Coachella Collection NFTs in the secondary market.
Coachella 2022 will take place on two separate weekends of April 15 to April 17 and April 22 to April 24. Headline acts for this year’s festival include Harry Styles, Lil Baby, Big Sean, Megan Thee Stallion, Billie Eilish, Doja Cat, Swedish House Mafia and Ye.
Photo courtesy of Coachella.
