Coachella dips back into NFTs with new partnership
Coachella festival has announced a partnership with NFT marketplace OpenSea to launch a series of unique collections that promise to “usher in a new paradigm in the live event and ticketing industry”.
Coachella Keepsakes will serve as an “all-access pass” to exclusive festival experiences and products, utilising the Avalanche blockchain network to turn “digital assets into real-world benefits”.
Each collection pairs collectible Coachella IP artwork with benefits ranging from access to exclusive festival areas such as the VIP Rose Garden or the new Oasis Lounge, to limited edition merchandise and VIP festival passes.
“Our collaboration with OpenSea begins a new chapter in how we use NFTs to provide unique custom experiences for Coachella in real life and online,” says Sam Schoonover, innovation lead for Coachella.
“We’re moving towards a future where Coachella isn’t just an event you attend, but an experience you can own and shape based on the digital tokens in your possession. We’re enabling this future with OpenSea, a trusted and secure marketplace that helps us safely provide these new opportunities to fans.”
The first collection, titled The VIP Pass + Oasis Lounge Keepsake, launched yesterday (5 March), granting access to a 2024 VIP festival pass and the Oasis Lounge. Priced at $1,499, 1,000 were made available for purchase.
“Our partnership with Coachella represents a significant milestone, uniting the digital with the physical”
Coachella and OpenSea will release the second collection, the Canvas Welcome Box Keepsake, on 25 March, offering benefits including unique merchandise, digital content and access to the Rose Garden VIP area. The third and final drop, introducing an artist collaboration, will then follow in mid-April.
“We are thrilled to embark on this journey with Coachella, a festival that has dominated the cultural zeitgeist for over two decades,” adds Devin Finzer, CEO of OpenSea. “Since our inception in 2017, we’ve been at the forefront of the NFT revolution, witnessing firsthand the expansion of digital ownership and its evolving utilities.
“Our partnership with Coachella represents a significant milestone, uniting the digital with the physical in ways that promise to enrich the festival experience and usher in a new paradigm in the live event and ticketing industry.”
Coachella previously partnered with global cryptocurrency exchange FTX to auction off 10 lifetime passes as part of an NFT series that sold for a combined $1.5 million (€1.3m). The ‘Coachella Keys’ collection granted admission to the 125,000-cap festival in Indio, California every year, along with a unique experience. FTX filed for bankruptcy in 2022.
Lana Del Rey, Tyler, the Creator, Doja Cat and No Doubt will headline Goldenvoice-promoted Coachella’s 2024 edition. The 125,000-cap festival will return across two consecutive weekends (12-14 and 19-21 April) at the Empire Polo Club in Indio, California.
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