Coachella NFT

Coachella will sell lifetime festival passes as NFTs

Coachella, one of the largest festivals in the world, is selling lifetime tickets for its yearly April show as an NFT. Attendees will have to buy the NFT off of the new marketplace they built with the help of FTX US, and the collection is called Coachella Collectibles NFT. Coachella is taking advantage of the new web3.0 trends, with this one-of-a-kind opportunity giving fans a lifetimes festival pass, digital collectibles, unique on-site experiences, and physical items.

The annual music and arts festival will be releasing three different collections, Coachella Keys Collection, Sights and Sounds Collection, and Desert Reflections Collections. All collections will be released on 4 February. The first collection, Coachella Keys Collection, features 10 editions of non-fungible unique keys, and each one of the keys will give buyers access to a special perk. The 2nd collection Sights and Sounds collection is a 10,000 edition drop, of iconic festival photos and never heard before soundscapes. This collection is not an auction however, as collectors will be minting the NFT for 60$ and receiving 1 of the 10 combinations. Each photographer and installation artist will receive a royalty from the net sale of the NFT.

Coachella NFT
 The final collection is called Desert Reflections collection, which is a 1,000 edition NFT collection of Coachella’s physical photo book priced at 180$. It is a redeemable book that holds photos from the years 1999 to 2019.
The new marketplace is built on the Solana blockchain, which is more environmentally friendly than the Ethereum blockchain. The Solana blockchain is proof of stake a far less energy-intensive protocol structure. Ethereum remains to this day a proof of work blockchain which is not eco-friendly.
Image credit: Amy Harris, Invision via Associated Press