Outside the realm of visual arts, sports and gaming, the music industry is finding ways to leverage the power of NFTs as a way to up the ante on the concert-going experience; one has to look no further than Coachella as proof. The popular music & arts festival has joined forces with cryptocurrency exchange FTX US in offering crypto-powered experiences to its valued members. A new Coachella-based NFT marketplace will unlock a series of themed collections that will link physical goods with specific digital items.
The initial offering titled the “Coachella Keys Collection” consists of 10 one-of-a-kind NFT keys that not only grants members lifetime access to the annual event, it extends the festival experience well into the future via virtual events that have yet to be announced. Next up on the docket is the “Sights and Sound Collection,” which is a cluster of 10,000 NFTs comprised of never-before-seen soundbites and photos, and the “Desert Reflections Collection”—a chain of 1,000 NFTs celebrating the 20-year history of Coachella.
“Only blockchain technology can give us the unique ability to offer tradeable lifetime passes to Coachella for the first time ever,” said Sam Schoonover, innovation lead for Coachella, adding “We’re excited about building new utility and community for our fans with NFTs.”
Minted on the Solana blockchain, the “Coachella Keys Collection” is up for bidding on February 4, with the other two drops hitting the market on the same day.
In case you missed it earlier, BAPE enters the metaverse with the unveiling of (B)APETAVERSE.