Coachella will debut an NFT collection, much like Lollapalooza. Customers who manage to purchase specific NFTs will get lifetime passes and VIP experiences.
Coachella Collectibles will offer a lifetime event pass
The Coachella music festival, which is held in California each year, has introduced new NFTs called Coachella Collectibles. It’s a set of non-fungible tokens that may be redeemed for “lifetime Coachella passes, art prints, photo books, digital collectibles, and more.”
The festival spread the news from Twitter:
Introducing Coachella Collectibles NFTs ? Lifetime festival passes, digital collectibles redeemable for physical items & more available Friday at 10am PT at https://t.co/D8v4cD04wc
Explore our debut collections? pic.twitter.com/eEPdVvxPhg
— Coachella (@coachella) February 1, 2022
What do Coachella NFTs offer?
Coachella’s NFT collection was developed together with FTX US. On February 4, three collectibles (of 10) will be released. These will allow their owners “tickets for life” as well as access to future festivals’ virtual experiences.
For example, the website says that NFTs will provide advantages for the 2022 event, such as front-row access and high-end camping facilities for life, as well as a meal with a celebrity chef from the Rose Garden site.
They also release a “Sights and Sounds” collection:
“10 digital collectibles made up of iconic festival photos and never before heard soundscapes from the Polo Fields. Mint this NFT and randomly receive 1 of these 10 combinations. Each NFT is redeemable for a physical art print of the photograph.”
The organizers of the event claim that a certain amount of the sales will be donated to charity organizations.
Coachella collaborates with FTX.US in order to offer NFTs
The Coachella NFTs will be available through the FTX.US exchange, a firm with collaborative ties to Solana. In June, FTX introduced its NFT marketplace to the world. The exchange then expanded access to American customers in October. In December, FTX.US added Ethereum-based NFTs to its platform.
FTX has previously conducted NFT transactions for other organizations. For example, in December, FTX was handed the responsibility of selling real estate parcels for the VR project Somnium Space.
Crypto collectibles from existing groups, such as Bored Ape Yacht Club and CryptoPunks, are also featured on the marketplace.