INDIO, CA (CelebrityAccess) — Goldenvoice revealed plan to sell lifetime passes to its premier festival, Coachella as non-fungible tokens.
The set of ten NFTs, built around the conceit of Coachella Keys, will provide purchasers with passes to the festival, along with unique VIP experiences that are tailored to each NFT.
Some of the NFTs on offer include access to air-conditioned tents, special VIP seating on stage, and access to special dining and VIP areas.
The keys also offer lifetime access to any Coachella virtual events.
Goldenvoice partnered with the cryptocurrency exchange FTX to produce the NFTs which will go on auction later this week.
There are terms and conditions associated with the keys, including the stipulation that the benefits have no cash value, and are only available in years when the festival takes place. For years when the festival does take place, Coachella also reserves the right to “substitute for different benefits in its reasonable discretion, which may not have the same value (objective or subjective)” as the NFT promises, so your mileage may vary.
While the music industry has been inundated with NFTs in the last year, many of them are ephemeral with no intrinsic value beyond the perceived demand for the NFT. The Coachella Key collection charts a different course, offering tangible benefits to their owner that may make resale more attractive for their owners.
But don’t worry, Goldenvoice also offered some more traditional NFTs as well. The offerings include Coachella’s Sights & Sounds collection, where users can bid to receive a random combination of images from past festivals, or the Desert Reflections Collection, which provides purchasers with one of ten random Coachella posters.
Both NFTs are redeemable for physical copies of the artwork.