According to consequence.net, on July 7,  Billy McFarland shared the shocking news that a planned seven-figure deal he had apparently secured to sell the Fyre Fest brand and IP had fallen through. Though he claims to have over 1,000 other offers for the twice canceled music festival, he is apparently “done playing games.”

And so, McFarland is “taking the most famous festival brand (his words, not ours) and putting it up for auction on eBay [with a starting bid of] one cent.” “Whoever owns the Fyre brand will have an attention engine to launch festivals, do merch collabs, do insane pop-ups, run livestreams or build a media brand,” McFarland ironically proclaimed in a hype video he filmed while walking the streets of New York City.

 

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A post shared by Billy McFarland (@pyrtbilly)

As of publication, bidding has reached $50,200. The winner will receive the brand’s name, trademarks and IP, social media accounts, marketing assets, domains, documentary footage, the option for a Caribbean festival location. (which McFarland previously announced) and email and SMS lists, which is probably the most valuable asset depending on how famous the clients are.