Coachella Valley Music & Arts Festival announced that they would be selling lifetime guest passes as NFTs, which would encompass perks like front row access and a celebrity chef dinner. The auction will take place Friday February 4 at 10 a.m. through Friday, February 11 at 5 p.m.
The 10 NFTs, which will give owners lifetime tickets to the Festival, are called the Coachella Keys Collection. Owners of these NFTs will have passes to the Festival each April and will have lifetime access to Coachella-produced virtual experiences. This move marks the first time the Festival has ever sold lifetime passes.
“We’ve all seen how NFTs enable true ownership of art and media on the internet. We wanted to take it one step further and use NFTs to enable ownership of experiences in the real world too,” said Innovation Lead for Coachella Sam Schoonover. “Only blockchain technology can give us the unique ability to offer tradeable 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.”
Other companies have made similar moves with NFTs. In November, the NFL announced it would utilize NFTs over paper tickets for select games.
Coachella will also sell 1,000 NFTs for $180 that owners could use to redeem a Coachella photo book. A portion of NFT sales will be donated to GiveDirectly, Lideres Campesinas, and Find Food Bank.