NFTs (non-fungible tokens) are digital assets—such as photos, visual artwork, or audio—stored on a blockchain. The tokens are immutable and they are purchased, sold, and traded using cryptocurrency.
Coachella launched its own native NFT marketplace, which was built by FTX for the Solana blockchain. The festival's three collections offer a range of digital photos, soundscapes, and posters that can be redeemed for real-world experiences.
Perhaps the most significant, however, is the Coachella Keys collection. Each of its 10 collectibles grant their owners lifetime passes to Coachella.
After the bidding closed on February 11th, the full Coachella Keys collection sold for a whopping $1,474,000.
The 10 Coachella Keys: Pricing and Unique Experiences
Coachella's most expensive digital collectible, the "Infinity Key," fetched $270,000. It grants front-of-house views for one act at the Coachella Stage, transportation to and from the festival, a meal in the Rose Garden cooked by a professional chef, plus $500 in food and beverage vouchers.
Next came the "Key to the Safari," which sold for $256,000 and offers lifetime Safari camping accommodations that come with an air-conditioned and furnished tent, concierge service and more.
The "Key to the Coachella Stage" sold for $125,000 and offers front-of-house access for one act at the festival's main stage. The "Key to the Sahara" sold for $115,000 and offers a chance for two people to go onstage at the EDM-focused Sahara Tent during one performance.
The most basic of all the NFTs, the "Key to Coachella (Guest)" sold for $121,000 and offers two lifetime guest passes. The "Key to Coachella (VIP)," on the other hand, strangely sold for less, fetching $110,000.
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The "Key to the Secret Party" sold for $111,000 and offers a private, two-hour party for 50 guests with an open bar and secret guest host.
The "Key to the Producer Tour" sold for $121,000 and grants a one-hour tour of the entire Coachella grounds with an accredited festival producer.
At $140,000, the "Key to the Dinner in the Garden" offers a meal in the Rose Garden cooked by a professional chef for four people and two additional VIP festival passes.
Lastly, the "Key to the VIP Compound" sold for $105,000 and offers eight additional guest passes and a fully-stocked trailer in the VIP compound for 10 people.
You can read more about the 10 Coachella NFT Keys here.
More Coachella NFTs
Coachella's "Desert Reflections" and "Sights and Sounds" collections both sold out the first day they were listed. The former was off the market in a matter of 30 seconds.
The "Desert Reflections" collection contains 1,000 NFTs initially priced at $180, which holders can use to redeem for a physical Coachella photo book. The "Sights and Sounds" collection offers 10,000 iconic festival photos initially priced at $60, which token holders can redeem for a physical copy of the original image.