Coachella NFTs Trapped in FTX Crypto Fallout

The crypto world was rocked last week by the stunning implosion of FTX — the second-largest cryptocurrency exchange. Though the ripple effect acros...

November 18, 2022
4:32 AM

The crypto world was rocked last week by the stunning implosion of FTX — the second-largest cryptocurrency exchange. Though the ripple effect across the industry is still playing out, Coachella appears to be caught up in the collateral damage. The festival partnered with FTX.US to sell $1.5 million worth of NFTs back in February, a couple of months before the Southern California event's first staging since the pandemic. The collection included 10 NFT 'Coachella Keys,' which granted lifetime access to the festival and VIP perks such as luxury experiences and exclusive merchandise.

Benjamin James