Source: OpenSea (Coachella)

Summary

• Coachella Valley Music & Arts Festival announced a three-part series of NFT collections called ‘Keepsakes’
• The NFTs will be on the Avalanche blockchain & offer varying perks for owners - such as VIP access & exclusive holder-only merchandise
• The first of the three collections ‘The VIP Pass + Oasis Lounge Keepsake’ is available for ~$1,499 through OpenSea as of March 5th
  • At the time of publishing, 28 of the 1,024 NFTs available had been purchased
• The second collection drop, ‘Canvas Welcome Box Keepsake’ will be available starting March 25th - the NFTs will grant varying levels of access including merchandise & a VIP area at the festival
• Coachella entered the NFT space with FTX in February 2022, auctioning lifetime festival passes in the form of Solana NFTs that garnered over $1M in sales. There were issues with the collection when FTX collapsed, causing purchasers inability to access their NFTs. Coachella confirmed they are rectifying the issues & will continue to make good on holder benefits