Coachella to auction off lifetime festival passes as NFTs 👾💸💸
Happy Thursday, Creative Business People! 🤳
It’s almost the weekend! Here’s what’s happening in the latest creative industry news…
Coachella to auction 10 lifetime festival passes as NFTs
It's not surprising, that festivals like Coachella are moving toward selling even more premium festival passes.
On Tuesday, Coachella announced that it will be auctioning off 10 NFTs that will serve as stand-ins for lifetime festival passes. The move is part of a larger deal with cryptocurrency exchange FTX.
“We’ve all seen how NFTs enable true ownership of art and media on the internet. We wanted to take it one step further and use NFTs to enable ownership of experiences in the real world, too,” said Sam Schoonover, Innovation Lead for Coachella.
If you’re interested in jumping on this NFT collection, it goes live tomorrow (Friday, February 4th at 6pm UK-time) - minted on Solana.
British Fashion Council invests in adaptive intimates and the metaverse in new fund
The British Fashion Council (BFC) is taking a more active role in boosting financial support for emerging global brands and businesses via a new fashion fund. The first to receive backing are an adaptive intimate brand Intimately; metaverse space and marketplace, Digital Village; and Vollebak, a science-meets-tech men’s outdoor clothing brand.
Intimately received $1 million in funding led by BFC and Venrex; Digital Village received $600,000; and Vollebak declined to disclose figures. The founders say they will use the investment to build and scale their brands.
The goal is to create a better fashion ecosystem while helping young and emerging brands develop. “It's a fund with purpose,” says BFC chair Stephanie Phair. “There's a circularity to it. Investors are coming in for profit, to be a part of the growth of this industry, but a part of those fees is then reinvested back into the design sector.”
The Super Bowl Ads Are Out: “We’re Teasing Commercials Now?!”
Super Bowl Ads are iconic. Year after year they cause a storm and, on an international scale specifically, tend to attract viewers beyond regular football fans with A-list celebrities, mega talent and some classic favourites. I mean if you asked us who’s playing, we’d have to Google…(it’s the Cincinnati Bengals and Los Angeles Rams by the way).
While the game will be held on Sunday 13 February, many brands have already begun releasing their full ads online with others teasing a bigger reveal for their top-dollar slots on the day which last year attracted over 94 million live viewers.