Non-fungible token (NFT) marketplace OpenSea announced a collaboration with the Coachella Valley Music & Arts Festival to launch a series of three Avalanche-based NFT collections, Coachella Keepsakes. Each Coachella Keepsakes collection combines collectable Coachella intellectual property (IP) artwork with exclusive benefits offered by the festival, including access to exclusive locations such as VIP Rose Garden or Oasis Lounge, Coachella merchandise, and VIP festival passes, among other benefits.
“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. 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,” said Sam Schoonover, Innovation Lead for Coachella.
Launching on March 5 at 10 AM PST, the first collection, named The VIP Pass + Oasis Lounge Keepsake, grants access to a 2024 VIP Festival Pass and the recently introduced Oasis Lounge–a tranquil area with bar privileges, including complimentary drinks and a shaded lounge.
Priced at $1,499, a total of 1,000 of these NFTs will be on sale until April 1 or until the available supplies last through the OpenSea website.
Coachella and OpenSea will also release the second collection–the Canvas Welcome Box Keepsake, on March 25. This collection will present diverse utility levels, including merchandise, digital content, and Rose Garden VIP area entry. Specifics regarding cost and tiers will be disclosed in mid-March. Following this, the third drop in mid-April will introduce an artist collaboration, with details for this collection to be unveiled in late March.
“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,” said Devin Finzer, CEO of OpenSea.
OpenSea Transforms NFT Landscape
Founded in 2017, OpenSea is the largest peer-to-peer marketplace dedicated to crypto collectables and NFTs. The platform supports various blockchains and represents various categories for emerging asset classes, such as digital collectables, gaming items, and virtual goods. As of January 2024, OpenSea reached over three million active users and achieved a daily trading volume of approximately $4.5 million.
Recently, the platform introduced a “no-code hub” aimed at streamlining the NFT creation and drop process for artists by enabling them to create and mint tokens independently without needing third-party assistance or prior blockchain experience.
OpenSea’s partnership with Coachella is set to blend digital and physical realms through NFTs, providing more users with an enriched and personalized festival experience.
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