Yet another music festival is betting on creating non-fungible tokens (NFTs) to create a unique user experience. With values that can reach up to US$ 500 thousand on the crypto market, the Coachella music festival recently launched thousands of digital arts in partnership with FTX.
Coachella’s NFTs are traded through FTX and were launched on February 4, 2022. With illustrations divided into three collections considered rare, the tokens are sold for around US$ 60.
This was the starting price for the NFTs part of the “Sights and Sounds” collection. In total, ten thousand tokens were issued by Coachella in this edition, and it is currently possible to find “Sights and Sounds” NFTs starting at US$ 55.
Another collection of NFTs released by Coachella is “Desert Reflections, ” with only 1 thousand units issued. With various digital artwork illustrating unique cards that reproduce old posters and photos from the music festival, each token from this collection was offered for US$ 180 on FTX.
However, an extensive valuation of “Desert Reflections” tokens has occurred since the tokens were launched on the crypto market. Currently, the cheapest NFT in the collection is offered for US$ 355.
In addition to the “Desert Reflections” and “Sights and Sounds” collections, Coachella has launched a rarer collection of non-fungible tokens. Called as keys, these special NFTs offer festival attendees exclusive prizes and unique experiences.
With only ten units, the Coachella key collection can reach bids of up to US$ 500 thousand. This is the suggested price for the “Key to the Sahara” token, the sixth NFT released from the collection, granting the user lifetime entry.
“Your key to the lifetime Coachella Guest festival and the chance to see a show on the Sahara stage. Guest passes entitle the user to all VIP areas within the festival site, plus dedicated viewing areas on most stages, backstage access, and golf cart transportation for guests. This key also includes free access to future events and virtual adventures”.