Coachella has announced a new partnership with cryptocurrency exchange FTX to auction off lifetime passes to the festival as NFTs.
The festival is working with the cryptocurrency exchange FTX to auction off the NFTs, which have been named Coachella Keys Collection. “Owners will receive passes to the festival every April and access to Coachella-produced virtual experiences forever,” the press release reads.
The release boasts 10 one-of-one NFTs that give the buyer lifetime access to the festival. For this year’s installment, the buyers will also get VIP on-site experiences, like front-row views of the Coachella Stage and a celebrity chef dinner.
“We’ve all seen how NFTs enable true ownership of art and media on the internet,” Sam Schoonover, Innovation Lead for Coachella said in a statement. “We wanted to take it one step further and use NFTs to enable ownership of experiences in the real world, too.”
He continued, “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.”
The festival’s debut NFT sale opens on Feb. 4 at 1 p.m. ET on Coachella’s official NFT marketplace. Part of the proceeds from the sales will be donated to GiveDirectly, Lideres Campesinas, and Find Food Bank.
This year’s headliners include Kanye West, Billie Eilish, and Harry Styles. The lineup is rounded out by Lil Baby, 21 Savage, Megan Thee Stallion, Doja Cat, Big Sean, Baby Keem, and more.
Back in October, Coachella and Stagecoach festivals announced they would no longer require full vaccination for attendees at the 2022 festival.