Connect with us

ART & COLLECTABLES

Coachella and FTX US will Auction Lifetime Festival Passes as NFTs on Solana

With a Solana NFT, music fans will get lifetime access to Coachella, as well as advantages like as front-row seating and more.

Published

on

#nft #nfthours #coachella #nfttickets #eventtickets

NFTs could be a game-changer for the music industry and event ticketing in the future, and now there’s a high-profile project that mixes the two.

Coachella Valley, Music & Arts Festival, said today that it would collaborate with FTX US to release NFTs, including lifetime passes to the annual concert festival. The NFTs and access cards based on Solana will go live on February 4th.

Coachella will auction off ten Key NFTs, each of which includes a lifetime pass to the annual music festival in Indio, California, as well as access to all Coachella virtual events. The NFTs, which may be traded, will also contain exclusive advantages for the 2022 festival, such as front-row seating, a celebrity chef supper, and on-stage access at the Sahara Tent.

Two more NFT collections will be released at the event. One NFT collection will be limited to 1,000 pieces at $180 each and may be redeemed for a tangible photo book from the festival, while another NFT collection will be entirely digital and will span 10,000 pieces at $60 each.

Coachella’s own NFT portal and the FTX NFTs marketplace will sell the NFTs. In addition, find Food Bank, Lideres Campesinas, and GiveDirectly will all receive a percentage of the proceeds from Coachella.

Coachella’s Innovation Lead, Sam Schoonover, said that a blockchain’s immutable ledger is an ideal approach to verify ownership and gate admission to real events.

“Because each NFT is a permanent record confirmed on a blockchain, they have the unique power of safely ensuring their owner permanent rights to [in real life] events as well,” he explained. “We believe that lifetime access to Coachella is an excellent application for NFTs.” These Coachella Keys are digital artifacts that will bring long-term worth to their owners.”

While Ethereum is now the most popular platform for NFT collectibles, Solana is gaining popularity due to faster transactions, reduced fees, and a smaller environmental impact. Coachella picked Solana for the final two reasons, according to Schoonover, especially for consumers who may be interacting with NFTs for the first time.

“We needed to mint our NFTs on a platform that is environmentally friendly, low-cost, and doesn’t charge exorbitant transaction fees to move tokens or assets around in order to complete a purchase,” he explained.

Harry Styles, Billie Eilish, and Kanye West will headline Coachella 2022, which will take place from April 15-17 and 22-24. Lil Baby, Phoebe Bridgers, Megan Thee Stallion, Doja Cat, and Run the Jewels are among the other performers on the bill.

ART & COLLECTABLES

Ford is getting ready to enter the Metaverse with digital cars and NFTs

A month after the company announced significant personnel reductions, it has filed a trademark application covering its future initiatives in the Metaverse and NFT space.

Published

on

Ford Motor Company, an American automaker, has filed 19 trademark applications across its key automobile brands as it prepares to enter the realm of nonfungible tokens (NFTs) and the Metaverse.

Mike Kondoudis, a trademark attorney licensed by the United States Patent and Trade Office (USPTO), disclosed in a tweet on Wednesday that the business had submitted a total of 19 trademark applications covering its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others.

The trademark applications include a projected online marketplace for NFTs and virtual versions of its businesses’ automobiles, trucks, vans, SUVs, and clothes.

Ford intends to produce digital images of its vehicles, SUVs, trucks, and vans that will be verified by NFTs, according to USPTO filings submitted by the automaker on September 2.

The business also disclosed plans for “downloadable virtual commodities,” or “computer programs,” that would include apparel, accessories, and parts for vehicles for usage in “online virtual environments,” such as virtual and augmented reality trade exhibitions.

Additionally, there are plans to develop an online marketplace for “others’ digital artwork” as well as “online retail shop services featuring non-fungible tokens (NFTs) and digital collectibles.”

Less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant personnel reductions from its global workforce to decrease corporate expenses; Ford has decided to enter the Web3 area.

Ford isn’t the first automaker to enter the Metaverse market.

While premium automakers like Bentley and Lamborghini have already launched NFT collections, automakers including Nissan, Toyota, and Hyundai have indicated ambitions to enter the fast-expanding Metaverse market.

Continue Reading

ART & COLLECTABLES

Crypto-Vultures Profit from the Death of Queen Elizabeth

Only a few hours after the Queen’s passing, more than 40 meme tokens bearing her name have been released.

Published

on

Yesterday, according to Buckingham Palace, Her Majesty Queen Elizabeth II passed away. Although her loss triggered a global outpouring of sympathy and grief, it has also been exploited as a money-grab.

Elizabeth II, monarch
Grift endures eternally, but the Queen is gone.

There are over 40 meme coins on Ethereum and the Binance Smart Chain thanks to Queen Elizabeth’s passing (and at least one exploitative NFT collection).

While the news of the British monarch’s demise saddened people worldwide, cryptocurrency scammers took advantage of the occasion to launch dozens of meme coins with Queen themes on Ethereum and Binance’s BNB Chain.

Among the new crypto coins that were introduced are “Queen Elizabeth Inu,” “Queen Doge,” “God Save The Queen,” “London Bridge Is Down,” “Queen Grow,” “Rip Queen Elizabeth,” “Elizabeth II,” and “Queen Inu II.” Other tokens with the name of the next king, King Charles III, have also appeared. According to DexScreener, at least 40 separate meme coins appear to have been produced in the previous six hours.

The most liquid tokens, Save The Queen and Queen Elizabeth Inu, have already processed trade volumes of around $700,000 and $200,000 since their debut. At the time of writing, the price of Queen Elizabeth Inu is up 1,517%, while it has increased by 23,271% on Binance Smart Chain and 3,708% on Uniswap. Prices are incredibly unstable and exceedingly unlikely to persist.

The “Queen Elizabeth 69 Years NFT” NFT set has reportedly been produced. One image is said to represent each year of the Queen’s reign in the collection. The project’s aims should be questioned because Elizabeth II reigned for 70 years, not 69.

The crypto community, typically known for its gallows humor, mainly reacted negatively to the initiatives. When told about the NFT collection, NFT aficionado ThreadGuy said, “You’re going to hell.” Trader Byzantine General declared, “We’ve got to stop this crypto stuff.”

In 1926, Queen Elizabeth was born. She was the longest-reigning British monarch in history and passed away in Balmoral Castle at 96.

Continue Reading

ART & COLLECTABLES

One crypto sector, according to billionaire Chamath Palihapitiya, is experiencing a classic bubble cycle

One crypto sector may be going through a typical hype cycle, according to billionaire investor and software entrepreneur Chamath Palihapitiya.

Published

on

In a new episode of the All-In podcast, the CEO of Social Capital discusses the sharp decline in trading volume in the non-fungible token (NFT) market.

Palihapitiya offers Coachella and Burning Man as examples of major music festivals that strive to be distinctive but may wind up being mostly the same.

The billionaire contrasts NFTs and the overall art market with the two music events.

“I do believe that there is something going on; the simplest way to explain this is with the Burning Man/Coachella scenario. Many of these things are similar, but when some people approach anything new, they are too insecure to accept that it is similar to another item, so they spend a lot of time attempting to convince you that it is different. When someone says that a time is different, it’s probably not that different, as stated in the Warren Buffett quote, is an example. Or consider the other famous historical adage, “Things don’t always repeat in history, but they rhyme.”

All of this is meant to imply that, aside from major advances in science, not much new has been discovered recently. We keep repeating the same patterns, and one of them is the social capital that comes from making certain decisions and then having those decisions validated by others in order to feel valuable. And this occurred in NFTs, as well as, I’m sure, in the initial stages of several artistic movements. These events are more comparable than dissimilar because they have presumably occurred in a number of other markets as well.

Burning man and Coachella are same. The art market and NFTs are both the same. It doesn’t need to be unusual; you can simply appreciate it because you think it’s cool. I would just take it with a grain of salt and tell anyone who comes to you asking why it’s so different.

DappRadar reports that earlier last week, trading volume on popular NFT marketplace OpenSea reached a one-year low.

Continue Reading

Trending

bitcoin
Bitcoin (BTC) $ 18,684.05 7.52%
ethereum
Ethereum (ETH) $ 1,276.67 7.86%
tether
Tether (USDT) $ 0.999380 0.06%
chiliz
Chiliz (CHZ) $ 0.235023 10.09%
enjincoin
Enjin Coin (ENJ) $ 0.449828 5.82%
decentraland
Decentraland (MANA) $ 0.685584 4.22%
flow
Flow (FLOW) $ 1.60 6.05%
the-sandbox
The Sandbox (SAND) $ 0.827893 5.85%
wax
WAX (WAXP) $ 0.083031 4.67%
ecomi
ECOMI (OMI) $ 0.001282 1.06%