Coachella, an annual music and arts festival held at the Empire Polo Club in Indio, California, is selling "one-of-a-kind" non-fungible tokens (NFTs) that will give their owners lifetime festival passes.

The festival tweeted the initiative is supported by FTX US, and the digital collectibles will be dropped on an "environmentally friendly" marketplace by Solana. The so-called "Coachella Keys" collection is scheduled for sale this Friday (February 4, 2022) at 10 am PT.

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Coachella says a portion of the proceeds from each sale will be donated to Give Directly, Lideres Campesinas, & Find Food Bank, and royalty will support the creators involved.

To The Moon earlier reported that Gary Vaynerchuk's NFT restaurant Flyfish Club sold out all tokens for a total sum of $26.5 million. To make a reservation, members will need to connect their cryptocurrency wallet with a token from the restaurant to verify ownership. Non-members will only have access to the restaurant if they are a guest of a token holder.