Tomorrowland and Magic Eden Partner for Festival NFT

Like the last collection, the newest offering will be available to mint exclusively on FTX.

The famed festival Tomorrowland is set to launch a series of NFTs in partnership with Magic Eden and FTX. To get a deeper look into the project and what utility they’ll have for festival-goers, Hypemoon spoke with the founders of Magic Eden.

The new NFT collection by Tomorrowland will be titled “The Reflection of Love” and is the second in a series of three collections. It is inspired by the event’s mainstage theme for its 2022 festival in Belgium. While the festival has already sold out its 600,000 tickets, the new NFT drop gives holders the chance at unparalleled perks. Benefits include access to the NFT community, festival creators, and artists, as well as giveaways from backstage tours to secret shows.

Minting of the new Tomorrowland NFT will take place on FTX and is powered by the Solana-based platform Magic Eden — which has successfully launched over 250 digital asset collections and sees over 92% of all NFT trade volume on Solana.

When asked how the collection will help bridge the gap between Web3 and live events, Magic Eden co-founders told Hypemoon, “there are two parts to this collaboration between Tomorrowland and Magic Eden. The first part of the partnership involves a limited mint for collectors looking to purchase Tomorrowland tickets,” adding that “this experiment allows us to trial ticket redemption in a controlled setting, so that we can better understand the workflow for activities going from on-chain trading to off-chain redemption. This mint will inform how future IRL ticketing launches on NFTs could operate.”

A key highlight the founders mentioned is the ability for holders to assemble what they call a “medallion,” which will provide lifelong allow-list perks that grant the ability to purchase tickets for sold-out Tomorrowland events.

Additionally, Hypemoon asked the co-founders what excited them most about the upcoming NFT drop, to which they responded, “NFTs provide valuable utility for holders” adding that, “Magic Eden is excited to work with a globally-celebrated innovative music festival like Tomorrowland to launch an NFT that will bring people closer together at the festival and in digital spaces.”

In regards to mainstream skepticism, Magic Eden shared that one thing will create the next era of adoption — utility. The platform told Hypemoon that valuable utility might come in the form of gated access, community connections, and in-game marketplace structures. The co-founders shared a clear distinction between projects creating NFTs for buzz factor and others creating them with true inherent utility that not only piques curiosity but creates long lasting value for its holders.

Published By : Hypebeast

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