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Coachella NFT collection sells for $ 1.4m
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Coachella ’ s NFT collection , which included lifetime passes to the 125,000-capacity festival , generated more than $ 1.4m (£ 1m ) according to marketplace FTX . US , following a week-long bid session that ended on 11 February .
As part of the Coachella Key Collection , the US festival , promoted by AEG-owned Goldenvoice , released NFTs including lifetime passes , VIP experiences , and photos . The highest bid was for the Infinity Key ; which sold for $ 270,000 (£ 199,000 ) and included lifetime festival guest passes , all-inclusive culinary experiences and private transportation .
This was followed by the Key to the Safari , which sold for $ 256,000 (£ 188,700 ) and included the passes and luxury air-conditioned tent accommodation .
M & B Productions goes bust
Coventry-based promoter M & B Productions Ltd , and its ticket platform Simple Ticketing Ltd , has ceased trading , leading to outdoor show cancellations this summer .
The axed shows include McFly at Lincolnshire Showground , Craig David at Wicksteed Park in Kettering and the Comedy in the Park greenfield events series .
In a statement , the promoter , which began delivering shows in 2019 , said , “ We were amongst many high-profile event organisers forced to reschedule many events due to the Covid-19 pandemic . With vast amounts of finance already tied up with artist deposits , suppliers , venues and marketing this has put a huge financial strain on the company .
“ Despite the best efforts of everyone involved , this combined with the extreme logistical and financial setbacks caused by the pandemic mean it ’ s no longer viable for us to continue trading .”
DHP Family buys into Bearded Theory Festival
Venue owner , festival organiser and national concert promoter DHP Family has partnered with the promoters of independent music festival Bearded Theory ’ s Spring Gathering .
DHP , which runs Nottingham ’ s famed Rock City venue , Nottingham festival Splendour ( 25,000 ) and multi-venue festival Dot To Dot , will be in partnership with festival founders Richard Bryan and Stephen Blount on the event .
Due to take place on May Bank Holiday weekend at Catton Park , Derbyshire , Bearded Theory 2022 ’ s line-up includes headliners Flaming Lips , Patti Smith and Placebo .
DHP Family MD George Akins said , “ This is an exciting venture between two iconic music names that are a natural fit in terms of music heritage . Richard and the Bearded Theory team have done a fantastic job with the festival , and we ’ re delighted to be continuing the story together over the coming years .”
Bearded Theory co-founder Richard Bryan said , “ We have been looking at ways to improve the event without it losing its ethos , ethics and identity and to gain the support needed for it to continue to blossom . We are delighted to have found the answer with the Midlands ’ favourite music family .”
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