FTX Inks a Deal With Tomorrowland to Expand Web3 And NFTs in The Music Industry

FTX Europe – the European subsidiary of the US crypto exchange FTX – collaborated with the music festival Tomorrowland. As part of the agreement, the trading venue will help its partner bring its “truly unique and magical events to the digital space by supporting their Web3, NFT, and crypto-related initiatives.”

‘People of Tomorrow’ to Jump in The World of Crypto

The European affiliate of FTX – FTX Europe – joined forces with arguably the world’s largest dance music festival – Tomorrowland. The crypto exchange will aid its associate’s efforts in the Web3 and NFT space.

Specifically, the festival vowed to bring the best from blockchain technology and implement it in its upcoming events. These include the annual iconic Tomorrowland in Belgium, Tomorrowland Winter, and the award-winning digital festival Tomorrowland Around The World.

The collaboration will seek to release non-fungible tokens and Metaverse experiences to music fans. Tomorrowland’s evolution to Web3 could create numerous options for festival-goers to purchase virtual tickets and engage with favorite performers in the near future.

Sam Bankman-Fried – CEO and Founder of FTX – said, “it’s exciting to see the continued blending of crypto, music, and events.” In his view, Tomorrowland’s future initiatives will give attendees a “fun and interactive way to gain access to exclusive events.”

Commenting on the matter was also Michiel Beers – Founder of Tomorrowland:

“Since day one, it’s within the DNA of Tomorrowland to never stop pushing the boundaries of creativity and innovation, to create the most unique experiences and important moments for our global community, The People of Tomorrow. The evolution to Web3 opens a lot of possibilities for our endless imagination and also the opportunity to tighten the bonds of our community in the coming years.”

Tomorrowland is a Belgian electronic dance music festival held in Boom, Flanders. Its first edition took place in 2005 when “only” 10,000 people attended it. Over the next decade, the event gained massive popularity as renowned DJs like Avicii, Armin van Buuren, Tiesto, David Guetta, and many others are the top performers on it. In 2018, Tomorrowland saw a record attendance of over 400,000 people.

FTX And Coachella

Tomorrowland is not the first music festival that FTX has partnered with. Earlier this year, the exchange collaborated with The Coachella Valley Music & Arts Festival to introduce non-fungible token (NFT) collections to fans.

The digital collectibles are separated into three categories: “Coachella Keys Collection,” “Sights and Sounds Collection,” and “Desert Reflections Collection.” The latter, which is the most valuable one, celebrates the festival’s 20-year history.