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Coachella will issue NFTs in partnership with FTX.US


Key Takeaways Coachella has announced three series of non-fungible tokens (NFTs) featuring festival passes, photos and posters. The NFTs are issued on the Solana blockchain and sold through the cryptocurrency exchange FTX.US. The sale begins Friday, February 4 at 10 a.m. PST. Share this article California music festival Coachella plans to issue a series of non-replaceable tokens, according to its website. Collection includes passes, posters, photos Coachella gets into the NFT business. Coachella’s NFT collection will feature ten “key” NFTs that serve as lifetime passes. The passes give access to annual festivals in April, as well as access to online concerts. These NFTs have no fixed price but are auctioned to the highest bidder. The series also includes two larger NFT collections. The “Sights and Sounds” collection will contain 10,000 tokens with photos and music from past festivals. These will cost $60 each. In addition, there will be 1,000 NFTs in the “Desert Reflections” collection, featuring ten digital posters from past Coachella concerts. NFTs in this series cost $180 each. Buyers of these NFTs can exchange their purchase for physical prints of the respective poster or photo. Coachella will put its NFTs on the Solana blockchain. Festival representatives noted in several statements that Solana is a sustainable blockchain. Unlike Ethereum, Solana does not rely on mining and consumes very little energy. The sale will begin on Feb. 4 at 10 a.m. PST. A portion of the proceeds will be donated to charity. FTX.US Will Power Coachella’s SaleCoachella’s NFTs will be sold through FTX.US, the US arm of the FTX exchange and a company with close ties to Solana.FTX first launched its NFT marketplace last June with initial support for on Solana based NFTs. The exchange then expanded the service to US customers in October. FTX.US then started supporting Ethereum-based NFTs in December. FTX previously managed NFT sales for other companies and groups. Perhaps most notably, FTX is handling land plot sales for the Somnium Space VR project. It also announced an NFT drop for NBA team the Golden State Warriors in December. The marketplace lists crypto collectibles from existing collections, including Bored Ape Yacht Club and CryptoPunks. Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies. Share this article The information on or accessible through this website was obtained from independent sources believed to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness or accuracy of any information contained on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete or inaccurate information. You should never make an investment decision about an ICO, IEO or other investment based on the information on this website, and you should never interpret or otherwise rely on the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO or other investment. We do not accept compensation in any form for analyzing or reporting ICOs, IEOs, cryptocurrency, currencies, tokenized sales, securities or commodities. See full terms and conditions. FTX raises $400 million at a valuation of $32 billion FTX has reached a valuation of $32 billion alongside its latest capital increase of $400 million, according to an announcement Monday. FTX Valuation Rises to $32 Billion Cryptocurrency Exchange FTX Has … FTX the Fastest Growing Crypto Exchange in 2021: Report FTX released its year-end report for 2021, showing it to be the fastest growing crypto exchange in the past year. FTX Fast Growing 2021 was a good year for FTX…. FTX Launches $2 Billion Venture Fund FTX has launched a $2 billion venture fund called FTX Ventures. The fund will focus on supporting Web3 teams building projects in social media, gaming, fintech and healthcare. FTX Ventures:… What is the Crypto Volatility Index? The Crypto Volatility Index (CVI) is a decentralized solution used as a benchmark to track the volatility of cryptocurrency option prices and the overall crypto market.
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