Coachella has just announced its first set of collectable NFTs. This collection includes 10-lifetime passes to the festival in the form of a digital “Coachella Key.”
The group of 10 Coachella NFTs will enable holders to go to Coachella every year. In addition to this lifetime pass, NFT holders will also get exclusive access to Coachella-produced virtual experiences, front row tickets, as well as a celebrity chef dinner.
Coachella is working with cryptocurrency exchange FTX to mint these NFTs on the Solana blockchain. Two more drops will also go live on February 4. These are the “Sights and Sound Collection” – which comprises 10,000 NFTs of never-before-seen soundscapes and festival photos at $60 each; and the “Desert Reflections Collection” – 1,000 NFTs at $180 each that celebrate Coachella’s 20-year legacy. NFT holders of the latter collection can exchange their token for a copy of the Coachella | The Photographs: 1999-2019 photo book.
Coachella chose the Solana blockchain as it has lower transaction fees and lower environmental impact. FTX will offset the carbon footprint by buying 100,000 tonnes of carbon offsets. The crypto company is doing this to ensure that the NFT collections align with the festival’s values.
Coachella’s Innovation Lead, Sam Schoonover hinted at more metaverse-related plans: “As the metaverse continues to develop, we will create more opportunities for fans to have fun and interact with each other and their favourite artists both online and offline.”
Harry Styles, Billie Eilish and Ye are set to headline this year’s highly-anticipated Coachella. The lineup also includes Phoebe Bridgers; Disclosure; Doja Cat; Jamie XX; IDLES and Stromae, to name but a few.