Coachella and FTX Offer Lifetime Festival Passes as NFTs
If you have been a big fan of Coachella and are a crypto user, you’ll be pleased to learn about the event’s latest announcement. Coachella has partnered with FTX, a crypto exchange platform, to create NFTs for users that serve as lifetime festival experience passes. Here’s what you must know about this decision and what you can do to become a lifetime pass holder.
The 3 Collections Available at the Coachella NFT Marketplace
- Coachella Keys Collection
- Sights and Sound Collection
- Desert Reflections Collection
Details of the Partnership
Coachella and FTX offer lifetime festival passes as NFTs. For those of you who don’t know, Coachella is an annual music and arts festival held in California. On the other hand, FTX is a crypto exchange that is regulated in the United States. The two entities have entered into a long-term partnership, as recently announced. Thus, through this partnership, the two entities are offering experiences that are powered by crypto, which are based on the Solana blockchain.
The first part of the partnership is the unveiling of the nonfungible tokens (NFT) marketplace by Coachella. Therefore, at this NFT marketplace, users can get access to 3 different NFT collections. The collections are linked to different digital and physical items.
About The Collections Available at the Coachella NFT Marketplace
1. Coachella Keys Collection
The first collection is called the “Coachella Keys Collection.” This collection offers up to 10 unique NFT keys that give the holder lifetime access to Coachella events. They also offer unique festival experiences in the year 2022. The collection also gives holders access to virtual experiences produced by Coachella in the future.
2. Sights and Sound Collection
The second collection is called the “Sights and Sound Collection.” This collection includes 10,000 NFTs of photos and soundscapes that have never been seen or heard before. Each of these pieces is priced at $60.
3. Desert Reflections Collection
On the other hand, the third collection is called the “Desert Reflections Collection.” This collection celebrates the 20 years of history of Coachella through 1,000 different NFTs. Each of these NFTs is priced at $180. NFT holders of the third collection can choose to redeem their nonfungible token for a physical copy of the photo book titled Coachella | The Photographs: 1999-2019.
What the innovation Lead for Coachella, Sam Schoonover Had to Say
The innovation lead for Coachella, Sam Schoonover, discussed how blockchain technology is the only form of tech that can make it possible for Coachella to offer the ability to buy and trade lifetime passes to the event for the first time. He also mentioned that the Coachella team is excited to build new utility and a community for their fans through the use of NFTs.
How to Buy These Collections
The second and third collections are up for sale on February 4, 2022, at fixed prices. However, users must bid for the “Coachella Keys Collection” on the same day. Continue to follow our page for the latest news about NFTs.
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