The festival has partnered with FTX US, a blockchain gaming studio for the exclusive launch of a new digital currency called Solana. The first use case will be bringing NFTs to life in both mobile and PC games that play on the platform.
The “coachella” is a music and arts festival that takes place in Indio, California. The event has partnered with FTX US to issue Solana-based NFTs for the event.
This article was first published on News.Bitcoin.
According to the festival’s official Twitter account, the Coachella Valley Music and Arts Festival is entering the non-fungible token (NFT) technological area. The NFTs are minted on the Solana blockchain, and Coachella has joined with the crypto exchange FTX US.
Coachella collaborates with FTX US to create digital collectibles based on Solana Beach.
Coachella, a music and arts festival co-founded by Rick Van Santen and Paul Tollett, has been a successful music and arts event since 1999, with a peak attendance of 250,000 in 2017. The Chemical Brothers, Rage Against the Machine, Tool, Morrissey, A Perfect Circle, and Jurassic 5 are just a few of the artists that have performed at Coachella. Coachella was celebrating its 20th anniversary in 2019 until the Covid-19 epidemic forced the cancellation of the 2020 edition.
Goldenvoice, the company behind Coachella, announced on June 1 that the festival would take place April 15–17 this year, with performances from Swedish House Mafia, Billie Eilish, Harry Styles, and Ye. Coachella’s official Twitter account announced the debut of NFTs coined on the Solana (SOL) blockchain on February 1. Coachella tweeted, “We’ve teamed with FTX US to establish an ecologically friendly marketplace on Solana.” The festival’s organizers have also created a special online platform for the NFTs.
NFT keys for Coachella
Participants may “unlock lifelong Coachella tickets, art prints, picture books, digital treasures, and more,” according to nft.coachella.com. Coachella collectibles, according to the festival’s website, are “a once-in-a-lifetime chance to acquire lifelong festival tickets, unlock rare on-site experiences, tangible things, and digital treasures.” NFT drop participants must have an FTX US account and will get limited Coachella digital collectibles on Friday, February 4 at 10 a.m. (PT).
The revenues from the NFT sale will go to three charities: givedirectly.org, liderescampesinas.org, and findfoodbank.org. Coachella goes on to say that Emek Studios designed the festival’s NFT art. There are ten NFT keys that provide you lifelong admission to Coachella, as far as the unlockable lifetime Coachella passes are concerned. The website explains, “This includes admission to one festival weekend every April and Coachella created virtual experiences… forever.” The NFT key description for Coachella adds:
Unique experiences for 2022 include front-row seats at the Coachella Stage, lifelong Safari camping, and a meal cooked by a professional chef in the Rose Garden, among others. It’s impossible to say what else these NFT keys will open up in the near future.
This story’s tags
Coachella Collectibles, Coachella Digital Collectibles, Coachella NFT Collection, Coachella NFTs, Digital Collectibles, FTX.US, keys, Lifetime Passes, NFT Coachella, NFT Keys, NFTs, Non-fungible Token (NFT), SOL, Solana blockchain
What are your thoughts on Coachella working with FTX US to provide Solana-based NFTs and NFT keys for the lifetime pass? In the comments area below, let us know what you think about this topic.
Jamie Redman (Jamie Redman) is a
Jamie Redman (Jamie Redman) is a is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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