Coachella will be launching an NFT marketplace on Friday, February 4th. The marketplace will offer a group of 10 NFTs, the “Coachella Keys Collection” that will allow holders lifetime tickets to the festival. In addition to receiving annual passes to Coachella, token holders will also have access to Coachella produced virtual experiences and other perks such as front row access and celebrity chef dinners.
In addition to these 10 lifetime passes Coachella will also be selling 1,000 NFTs that buyers can use to redeem a physical photo book of Coachella. These will be sold for $180. They will also be releasing 10,000 NFTs of fan-favorite festival photos and soundscapes prices at $60. The NFTs can be found here: https://nft.coachella.com/
A portion of sales will be donated to GiveDirectly, Lideres, Campesinas, and Find Food Bank. If these NFTs are resold Coachella, as well as photographers and artists will receive a royalty.
This news comes after their parent company AEG recently renamed the Staples Center in Los Angeles the Crypto.com Arena.
Other companies are also switching over to digital tickets and attaching NFTs to products or experiences. This includes the Bored Ape Yacht Club, as well as Gap and Adidas.
