On February 4, you could buy a Coachella Collectable, which would give you Coachella access for the rest of your life. This is the first time Coachella has ever offered lifetime passes to the event.
As per Billboard, “The NFT series marks the first time Coachella has ever made lifetime passes available. The Coachella Keys Collection features 10 one-of-one lifetime pass NFTs include VIP on-site experiences for the 2022 event.
Innovation Lead over at Coachella said, “Since each NFT is a permanent record verified on a blockchain, they have the unique capability to securely guarantee their owner permanent rights to IRL experiences too… “We think lifetime access to Coachella is a perfect use case for NFTs. These Coachella Keys are digital items that provide real value to their owners over the long term.”
The music festival will be dropping three different collections all on the Solana blockchain. The Coachella Keys Collection, the Desert Reflections Collection and the Sights and Sounds collection.
With this being Coachella’s first NFT venture, they recognized that this would be many of their audience members’ first time dealing with the NFT space and they were conscious about this blockchain they chose. Seeing as Solana has inexpensive gas fees and is more environmentally friendly than other blockchains, this is who they chose to partner with.
In addition to the proceeds of the sale going toward NFT-exclusive offers, a cut of the money will be going to organizations GiveDirectly, Lideres Campesinas, and Coachella’s regional Find Food Bank.
Team17, the company behind the fan favorite game Worms, has officially bailed on their plans to launch a Worms spinoff NFT titled “MetaWorms.” Just hours after releasing their plans for the project, they’ve already gone back on their “worm.” Too soon?
In a statement explaining the cancellation, Team17 said, “We have listened to our Teamsters, development partners, and our games’ communities, and the concerns they’ve expressed, and have therefore taken the decision to step back from the NFT space.”
Like a few gaming companies before them, the backlash on the integration of NFTs into gaming has been fierce. Not many communities are as loyal as the gaming community, but when they think you’ve stuck your nose in business it shouldn’t be in, they will not hesitate to let you know.
In response to Team17’s initial idea to bring the Worms franchise into the NFT space, a few other gaming companies (Overcooked, Playtonic, and Aggro Crab) came with their own condemnations of the company stating their games will never include NFTs.
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.