Coachella to Offer Lifetime Pass With Upcoming NFT Drop

FTX, a cryptocurrency exchange regulated by the US, recently partnered with Coachella as they look to offer several crypto-related experiences to the patrons of the annual music and arts festival held in California. One of which is the launch of Coachella’s own NFT marketplace set to distribute three separate collections consisting of different physical and digital items.

“Coachella Keys Collection,” the first of the three, will auction off 10 unique NFT keys that will grant buyers lifetime access to Coachella as well as exclusive festival experiences for 2022. The collection will also provide key holders with access to virtual experiences which Coachella may produce in the future.

The “Sights and Sound Collection,” on the other hand, will consist of 10,000 NFTs featuring never-before-seen soundscapes and photos. These are expected to start at $60 each and users who purchase this collection may also redeem their token for a physical copy of the Coachella | The Photographs: 1999-2019 photo book. Finally, the “Desert Reflections Collection” is a 1,000-NFT celebration of the annual music and arts festival’s 20-year history which will be priced at $180 apiece. All three collections will be minted on the Solana blockchain and part of the proceeds will be donated to organizations such as GiveDirectly, Lideres Campesinas, and Find Food Bank.

“Only blockchain technology can give us the unique ability to offer tradeable lifetime passes to Coachella for the first time ever,” explained Coachella innovation lead Sam Schoonover. “We’re excited about building new utility and community for our fans with NFTs.”

The bidding launch for the “Coachella Keys Collection” is set to begin on February 4, while sales for the “Sights and Sound Collection” as well as the “Desert Reflections Collection” are also scheduled on the same day. Among this year’s headliners for the festival are Harry Styles, Billie Eilish, and Kanye West.

Source: Hypebeast, The Verge