Coachella is set to auction off a new set of non-fungible tokens (NFTs), including 10 lifetime festival passes.
The Indio, California festival, which is set to return this year from April 15-17 and 22-24, has partnered with the cryptocurrency exchange FTX for the new venture, which it says will operate in an “environmentally friendly marketplace”.
The new NFT set, named ‘Coachella Collectibles’, is giving collectors the “opportunity to own lifetime festival passes, unlock unique on-site experiences, physical items and digital collectibles”.
Among the NFT collections that are set to go up for sale on Friday (February 4) is the ‘Coachella Keys Collection’, billed as “10 NFT keys that grant you lifetime access to Coachella”.
“This includes passes to one festival weekend every April and Coachella-produced virtual experiences… forever,” a description promises.
The owners of these 10 NFTs will also be given “unique experiences” at Coachella 2022, including “front and centre views at the Coachella Stage, lifetime Safari camping, or a dinner prepared by a professional chef in the Rose Garden”.
“We’ve all seen how NFTs enable true ownership of art and media on the internet. We wanted to take it one step further and use NFTs to enable ownership of experiences in the real world, too,” Sam Schoonover, Innovation Lead for Coachella, said in a statement.
“Only blockchain technology can give us the unique ability to offer tradable lifetime passes to Coachella for the first time ever. We’re excited about building new utility and community for our fans with NFTs, and in FTX we found the partner that we trust to provide us with infrastructure and support to help us usher in this new frontier.”
This year’s Coachella will be headlined by Kanye West, Billie Eilish and Harry Styles.
West, meanwhile, said earlier this week that he is not interested in NFTs, stating: “Do not ask me to do a fucking NFT.”