For the very first time, the music festival Coachella will be selling lifetime festival tickets. However, one will need to buy an NFT to own one of these lifetime tickets.
On the 1st of February 2022, Coachella launched an NFT marketplace via a partnership with FTX US. And on the 4th of February, the music festival released three NFT collections for sale. The NFT collections launched feature a group of 10 NFTs that gives holders access to lifetime passes to the music festival.
Holders of these NFTs will have access to Coachella every year as well as lifetime access to virtual experiences produced by Coachella. Additional perks that come with owning the NFT include a celebrity chef dinner and front row access at the music festival.
Surely, Coachella dabbling into the NFT scene is somewhat surprising. The parent company of the music festival, AEG, in November 2021, renamed the Staples Center as the Crypto.com Arena – a clear indication that the company is tilting towards crypto. Many conventional firms have proven that there’s a lot of money to be made by merging physical services and products into digital goods. Now, Coachella has done just the same.
Coachella, aside from the 10 lifetime-ticket NFTs is also selling 1,000 NFTs. Each of these NFTs goes for $180 and can be used to claim a physical photo book at the music festival. Coachella is also selling another set of 10,000 NFTs priced at $60 each. The NFT is said to feature never heard before soundscapes and fan-favorite festival