Coachella & OpenSea launch 3 NFT collections weeks before 2024 festival

Turning to NFTs for the second time, Coachella follows the bullish crypto run as they partner up with OpenSea to bring fans three unique ‘Coachella Keepsakes’.

Just as Coachella’s 2024 edition rolls up this April for two weekends, organisers decided to launch special tangible experiences through NFTs. The trilogy of collections is hosted on the layer 1 Avalanche blockchain and will use AVAX as its cryptocurrency.

Coachella’s goal with these sets is to create a more customisable and unique experience that can act as a ‘game’ where fans can purchase and trade upgrades and benefits.

For those who might still be a little confused about purchasing crypto, no need to worry — the team has made sure that payment can be easily done through credit or debit cards instead of AVAX directly.

The first drop ‘The VIP Pass + Oasis Lounge Keepsake’ has already taken place on March 5, which is priced at 34.2 AVAX with a current price of USD1587.56 — when it first launched, it was priced at USD1499.

Fans can choose which weekend they’d like to purchase and it includes a VIP festival pass plus all its amenities, access to the brand new Oasis Lounge which includes limited complimentary drinks, a shaded lounge and more.

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Only 1000 of these NFTs are available, and so far, 34 (3.3%) have been purchased. Sales will close on April 1, 2024.

The second drop ‘The Canvas Welcome Box Keepsake’ will be released on March 25, and will include merch, digital content and access to the VIP section of the renowned Rose Garden. The last drop will include an artist collaboration and more information will be out in late March.

“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,” mentions Innovation Lead for Coachella, Sam Schoonover.

“We are thrilled to embark on this journey with Coachella, a festival that has dominated the cultural zeitgeist for over two decades,” says Devin Finzer, CEO of OpenSea.

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Coachella previously jumped onto the NFT train back in 2022 when NFTs were a booming market, with NFTs selling for over 20 million US dollars a pop.

Their previous collaboration with FTX offered lifetime festival passes and was a huge success as they sold $1.5 million worth of NFTs. However, they faced many logistical issues after the fall of FTX in November 2022.

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From the middle of 2022 to 2023, the market has seen a major bear run until this year when things have been picking up.

As far as normal tickets, weekend one is all sold out with a waitlist open, but weekend two tickets are still available.

To get your hands on the ‘Coachella Keepsake’ NFTs, check out OpenSeas here.

Via: NFT Now

Miki Kitasako is Mixmag Asia’s Social Media and Content Producer, follow her on LinkedIn.