Coachella to auction off lifetime passes as NFTs - News - Mixmag
News

Coachella to auction off lifetime passes as NFTs

The California festival is also auctioning NFTs of art, digital collectables and more

  • Aneesa Ahmed
  • 2 February 2022
Coachella to auction off lifetime passes as NFTs

Coachella is auctioning lifetime passes as part of a new collection of NFTs.

The Californian festival, which will take place between April 15-17 and 22-24 this year, has collaborated with the cryptocurrency exchange FTX for the new initiative.

Read this next: The best and worst of Coachella

This will operate in an "environmentally friendly marketplace," according to the festival's website. The new NFT range has been named 'Coachella Collectibles'.

As well as lifetime passes, fans will be able to purchase art prints, photo books, digital collectibles, and more.

Read this next: Full vaccination will be required to enter Coachella and other AEG venues

What is an NFT? As described by Coachella on Instagram, an NFT is a "one of a kind digital token that you can buy or sell. They use blockchain technology to prove ownership."

"Coachella Collectible NFTs represent access to IRL experiences, digital collectibles, physical items, virtual adventures and more."

The 10 lifetime-pass NFT owners will also be treated to "special experiences" for Coachella 2022, such as "front and centre views at the Coachella Stage, lifelong Safari camping, or a banquet made by a professional chef in the Rose Garden."

Read this next: Kanye West documentary directors discuss his career in new footage

On its website, the festival said: "We have partnered with FTX US to build an environmentally friendly marketplace on Solana. A portion of the proceeds from each item will be donated to Give Directly, Lideres Campesinas, & Find Food Bank. More novel NFT experiences to come."

Sam Schoonover, Innovation Lead for Coachella, said in a statement: “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.

“Only blockchain technology can give us the unique ability to offer tradable lifetime passes to Coachella for the first time ever. We’re excited about building new utility and community for our fans with NFTs, and in FTX we found the partner that we trust to provide us with infrastructure and support to help us usher in this new frontier.”

Read this next: RCRDSHP is the NFT platform designed for electronic music fans and artists

The full Coachella 2022 line-up has finally been announced with the top acts being Kanye West, Billie Eilish, Harry Styles and Swedish House Mafia.

Other acts billed higher up this year’s festival line-up include Flume, Megan Thee Stallion, Disclosure, 21 Savage, Doja Cat, Jamie xx, and Daniel Caesar.

For more information about Coachella's new NFT collection, visit their website here.

Read this next: What is an NFT and how could it help the music industry?

Aneesa Ahmed is Mixmag's Digital Intern, follow her on Twitter

Load the next article
Newsletter 2

Mixmag will use the information you provide to send you the Mixmag newsletter using Mailchimp as our marketing platform. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us. By clicking sign me up you agree that we may process your information in accordance with our privacy policy. Learn more about Mailchimp's privacy practices here.

Loading...
Loading...
Newsletter 2

Mixmag will use the information you provide to send you the Mixmag newsletter using Mailchimp as our marketing platform. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us. By clicking sign me up you agree that we may process your information in accordance with our privacy policy. Learn more about Mailchimp's privacy practices here.