Coachella is jumping on the NFT bandwagon as the music festival has announced it will auction three collections of non-fungible tokens (NFTs) going on sale on February 4, 2022.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The tokens — which will be based on the Solana blockchain — will be available for purchase on an NFT marketplace built by FTX US. Coachella said in a tweet announcement that a portion of the proceeds from the sale will be donated to GiveDirectly, Líderes Campesinas, FINDFoodBank, and a royalty will support the creators involved.
Particularly, the music festival will auction the Coachella Keys collection, a group of 10 NFTs that allow holders lifetime tickets to the festival. Owners of the token will get passes to Coachella every year. However, it remains unclear how exactly these tokens will be auctioned.
Earlier in January, iHodl reported that Hollywood actor Johnny Depp is selling over 10,000 unique NFTs drawn from his own paintings. The so-called "Never Fear Truth" NFT collection features portraits of his family and friends. The collection consists of 11,111 NFTs, however, only 10,000 of them will be available for public sale. The remaining 1,111 are held between Depp and his team.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.