Austin-based company FestivalPass has introduced its Founder NFT with immediate utility and VIP access to quarterly bucket list events: the Festival Family Founders NFT is the first NFT of its kind providing immediate value that grows over time. Buyers of the unique NFT receive one of a limited collection of 10,000 Founder NFTs only available in this collection and will never be offered again. Once purchased, the Founder NFT unlocks $1,200 worth of credits on festivalPass every year for as long as they hold the NFT. FestivalPass credits can be redeemed for tickets on the platform for over 80,000 live events including concerts, festivals, sporting events, Broadway theater and more. Credits can also be redeemed for hotel room nights at over 600,000 hotels globally.
In addition to the immediately unlocked $1,200 of credits, NFT holders will have access to quarterly bucket list events curated and produced by FestivalPass. These unique, NFT holder-only events will be once-in-a-lifetime experiences such as popular artists playing small, intimate shows, luxury seating at sporting events with player experiences, and unique culinary events with celebrity chefs not available anywhere else. The only way to attend is by holding a Festival Family NFT.
“We are excited to offer our members and the Web3 community the opportunity to own part of their IRL experience,” shares FestivalPass Founder & CEO Ed Vincent. “It is important for NFTs to demonstrate true utility and benefits for the NFT owner. The Festival Family Founder NFT provides the ultimate utility with amazing benefits and access. The limited number of holders will join a special family of passion-connected live-event and Web3 enthusiasts building the future of the experiential world together.”
Festival Family will be sold in a unique way. Most NFT projects with a collection of 10,000 are released for a public mint at once, whereas Festival Family will be released in 10 drops of 1,000 NFTs each. The first drop will be sold at the lowest price in order to reward supporters for getting in early. Once the initial 1,000 are sold out, a second drop of 1,000 will be released at a higher price. Additionally, each drop will come with its own unique base art representing the unique personalities of live event fans everywhere. The first drop will be the coveted rocker character named Legend. The other nine member characters of the Festival Family will be revealed as each installment is released. Some investors may want to own the whole family, so getting Legend early at the lowest price will be in high demand.
FestivalPass is embracing the evolution of entertainment into Web3. In addition to adopting various blockchain technologies to drive its business, the company shares the philosophical belief that community is the core of any business and should participate in its future. In addition to launching the first ever Lifetime Founder NFT for live events, FestivalPass accepts cryptocurrency for subscription and ticket payments.
“When we founded FestivalPass, it was under the belief that live entertainment should not be transactional,” shares FestivalPass Founder & CEO Ed Vincent. “We envisioned a community in which members could interact and share around the entertainment passions they hold and where their participation is rewarded. As Web3 became more mainstream throughout 2021 it became apparent that not only the technology of Web3 but the philosophy of Web3 supports our mission and goals to bring participation and ownership to the live event world.”
The company’s mission is to inspire people to lead active and engaging lives through passion-connected member experiences. Members access, discover and attend live events in the most user friendly, frictionless and affordable ticketing experience. Instead of buying tickets with high transaction fees for concerts, festivals and events, FestivalPass provides members access to tickets for thousands of events and festivals with a unique credit system. The membership includes credits to use for any event or festival, which means they can try as many experiences as they like. FestivalPass members pay a subscription ranging from $19 to $99 a month and receive credits to access tens of thousands of events nationwide. Members have the ability to redeem credits for tickets across the US, and hotel rooms globally.
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