US festival Coachella is the latest live-music event hopping on the NFTs bandwagon. It has launched its own “environmentally friendly marketplace” with startup FTX US, which will sell ‘Coachella Collectibles’ while donating a portion of the revenues to charities, as well as the creators involved in the NFTs.
So far, three collections have been launched:
- The ‘Coachella Keys Collection’ is 10 NFTs offering lifetime passes to the event, which will be auctioned off from 4 February.
- The ‘Sights and Sounds’ collection is 10,000 NFTs costing $6 apiece, based on photos and “soundscapes from the Polo fields” – including physical art prints of the photos.
- The ‘Desert Reflections Collection’ is 1,000 NFTs costing $180 each based on past Coachella posters, including physical copies of a branded photo-book.
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
The replies to the tweet announcing the plans are a neat encapsulation of the scepticism (“No Fucking Thanks. That is what NFT stands for, isn’t it?… No coachella no stop it now!!… A relational database, some web services and QR codes or something could do all this and be knocked up in a few hours by any IT student” etc) and excitement (“Beautiful, well executed and great utility along with value for an NFT… A good step showing what nfts can be used for in real cases”) around this technology. And, of course, a LOT of cartoon profile pics.
Get A Free Music Ally Account
Access unlimited News articles on the site, PLUS a trial of Music Ally’s subscriber-only services, including our industry-leading daily Bulletin email.