Coachella Music and Arts Festival Partners With FTX US to Issue Solana-Based NFTs

The Coachella Valley Music and Arts Festival is entering into non-fungible token (NFT) know-how house, in line with the competition’s official Twitter account. Coachella partnered with the crypto trade FTX US, and the NFTs are minted on the Solana blockchain.

Coachella Partners With FTX US to Mint Solana-Based Digital Collectibles

Since 1999, the competition co-founded by Rick Van Santen and Paul Tollett known as Coachella has been a well-liked music and humanities occasion with its highest attendance in 2017, peaking at 250,000 attendees. Music acts which have performed at numerous Coachella festivals embody performers just like the Chemical Brothers, Rage Against the Machine, Tool, Morrissey, A Perfect Circle, and Jurassic 5. Coachella celebrated its twentieth anniversary in 2019 and needed to cancel the 2020 occasion over the Covid-19 pandemic.

Goldenvoice — the agency that operates Coachella — revealed on June 1, that the occasion will return on April 15–17 this yr, that includes artists like Swedish House Mafia, Billie Eilish, Harry Styles, and Ye. On February 1, Coachella’s official Twitter account introduced it was launching NFTs minted on the Solana (SOL) blockchain. “We have partnered with FTX US to construct an environmentally pleasant market on Solana,” Coachella tweeted. The competition organizers have additionally printed an online portal devoted to the NFTs.

Nft.coachella.com says that members can “unlock lifetime Coachella passes, artwork prints, picture books, digital collectibles, and extra.” The competition’s web site asserts that Coachella collectibles are “a primary of its form alternative to personal lifetime competition passes, unlock distinctive on-site experiences, bodily gadgets, and digital collectibles.” Limited Coachella digital collectibles will drop on Friday, February 4, at 10 a.m. (PT) and NFT drop members must have an FTX US account.

The NFT sale proceeds can be given to givedirectly.org, liderescampesinas.org, and findfoodbank.org. Coachella additional particulars that the competition’s NFT artwork was created by Emek Studios. As far because the unlock-able lifetime Coachella passes are involved, there are 10 NFT keys that grant you lifetime entry to Coachella out there. “This contains passes to 1 competition weekend each April and Coachella produced digital experiences… perpetually,” the web site particulars. Coachella’s NFT key description provides:

These keys additionally embody distinctive experiences for 2022 like entrance and heart views on the Coachella Stage, lifetime Safari tenting, or a dinner ready by knowledgeable chef within the Rose Garden. There’s no telling what else these NFT keys will unlock within the close to future.

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