include VIP on-site experiences for the 2022 event. The offerings available via these keys will change and expand from year to year at the festival.
“Since each NFT is a permanent record verified on a blockchain, they have the unique capability to securely guarantee their owner permanent rights to IRL experiences too,” Coachella’s Innovation lead. “We think lifetime access to Coachella is a perfect use case for NFTs. These Coachella Keys are digital items that provide real value to their owners over the long term.”Desert Reflections Collection iswill receive one of 10 digital renditions of a Coachella poster from revered poster artist Emek.
Coachella’s NFT marketplace was built by FTX, a US-regulated cryptocurrency exchange. “FTX is a brand that prioritizes innovation without sacrificing accessibility and safety,” says Schoonover. “When considering the jump into NFTs, we wanted to partner with a team that would help us to build new and inventive solutions for our fans, while also enabling us to educate and protect those who may not be familiar with this tech.
Coachella’s NFTs are minted on Solana, a blockchain platform that claims to have one of the lowest energy consumptions in the industry. Schoonover says it was priority for the festival to use such an energy efficient blockchain platform. “Coachella has a large audience of fans and for many of them, this will be their first time interacting with NFTs,” he says.
its over for BTS
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