Coachella Valley Music and Arts Festival, in collaboration with FTX.US, has become the first live event organizer to offer a lifetime festival pass to festivalgoers as NFTs.
The Coachella Collectibles include Coachella Keys Collection. These are 10 NFT keys that grant music fans lifetime access to the music festival and unlock other on-site benefits such as access to VIP Compound, a meal prepared by Coachella’s acclaimed culinary artists, air-conditioned tent, secret party, access to future virtual parties, and many more.
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Stats and Image from Coin Desk
Other collections are Sights and Sounds Collection, a collection of 10 digital iconic festival photos that can be used to redeem physical copies of the photograph. And Desert Reflections Collection, 10 NFT copies of Coachella’s photos, which are redeemable for physical copies.
Coachella announced that NFT minting and purchases will be handled on FTX.US’s NFT marketplace and Coachella’s marketplace, built on Salana, starting from Friday, February 4.
An undisclosed portion of the profits made from the NFT sales will be donated to Give Directly, Lideres Campesinas, and Find Food Bank.
This new development proves that NFT does not only have digital value but also has real-time value and benefits.