If you thought Coachella would be a safe place to escape those ever-expanding hordes of tech bros who endlessly chatter about NTFs, then, well, you would be wrong.
The festival launched its own version of that hottest of current commodities, which it calls Coachella Collectibles NFTs, ahead of this year’s fest.
It’s a development that would seem to require a lot more tech-savvy and futuristic vision than might be imagined for an event focused on enjoying some good tunes and vibes, but also one that the fest says promises plenty of potential rewards for fest fans.
But, first, what even is an NFT again?
Called a non-fungible token (as if that mumbo jumbo of a name could possibly mean anything to anyone), an NFT is, to put it as simply as it can be, a digital token that can be bought and sold. These tokens, however, can be used to represent physical objects, services and experiences (basically anything that real world money could be used to buy).
Ahead of Coachella, the festival set up its own NFT marketplace in partnership with cryptocurrency exchange FTX where festgoers can purchase NFTs entitling them to everything from galleries of exclusive festival photos to lifetime festival passes and keys to the VIP compound. Some of the NFTs can be bought for a listed price while others must be bid on in auctions conducted over a certain period (some have both a “buy outright” price and a bidding option.)
For example, bidding is currently underway for a set of exclusive digital photos (bidding started at $10) while the lifetime pass can be bought outright for, oh, just a cool $1 million (yup, VIP indeed).
Not interested in dropping anymore dough after blowing your whole festival budget on just getting in? Well, you can still get in on the Coachella Collectible game.
That’s because the festival announced that all 2022 attendees can claim a free NFT called an In Bloom NFT that entitles them to redeemable upgrades ranging from limited-edition merchandise to food and beverage vouchers. Already Friday, festgoers who had already claimed their free NFT could be seen entering in a dedicated entry lane for those with the NFT (although, admittedly, the lane did not appear to be moving any faster than others on the red side when the gates opened Friday morning).
Those who claim their NFT should also look closely, the In Bloom webpage states, because
a random selection of the In Bloom NFTs, will be redeemable for eyepopping perks such as a 2023 Coachella pass, VIP upgrades and even a coveted ride on the iconic Ferris wheel.
So how do you access your festival NFT? The festival provided the following instructions on its website.
1. Download the FTX app and create an account
2. Click the present icon on the top right of the Invest tab
3. In the promo code field, type “Coachella-” then enter the unique wristband code found on the underside of your festival wristband. This should look like “Coachella-XXXXXX”
4. Your NFT seed will be deposited into your NFT wallet instantly
5. Check back on Friday morning of your festival weekend to see your blossomed flower NFT
The festival notes that while weekend one passholders can access their In Bloom NFT, weekend two passholders can claim their NFT now but won’t seed theirs “blossom” into the usable version until the first day of weekend two next week.
For more information, visit nft.coachella.com/inbloom.
Because if there’s anything that would make finally getting your head around NFTS worth it, it’s probably a chance at making a free return trip to the festival next year.
Paul Albani-Burgio covers breaking news and the City of Palm Springs. Follow him on Twitter at @albaniburgiop and via email at email@example.com.