With the death of FTX, Coachella's nifty NFTs are inaccessible. Folks who bought lifetime passes to the event need to register annually via NFT, so this is yet another very successful demonstration of crypto adding value in the real world.
I guess the lifetime wasn't for the buyer, but FTX?
Let me point out here that even Ticket Master does a better job.
Coachella partnered with FTX to sell a collection of NFTs in February, ultimately raking in around $1.5 million. The NFTs were paired with physical items—Coachella passes, art prints, and photo books—and the NFT owners had the option to "redeem" their NFT to receive the item. However, all of this was done through FTX, and with FTX no longer fully operational, redemptions are no longer possible. The FTX server storing the artwork for the NFTs was also intermittently available, so holders reported seeing broken images when going to view their NFT.
Ten of the NFTs in the collection came with lifetime passes to Coachella, and sold for six figures. Each year, the NFT holder has to go through the redemption process to obtain their festival pass.
