The Untold festival team partnered with the Elrond Network to accept payments in the EGLD cryptocurrency. They will also launch a new NFT collection during the event.
One of the most important electronic music festivals in Europe is exploring a new payment alternative: cryptocurrencies.
The Untold Festival, which is scheduled to celebrate its 2021 edition next month in Romania, announced that this time will accept digital currency Elrond (EGLD) for the payment of your tickets.
The event organizers partnered with the platform Blockchain Elrond Network to allow electronic music fans the option of paying for their festival tickets with the network’s native cryptocurrency, called EGLD. The development team of Elrond He reported on the new alliance through his official blog on Tuesday.
“Electronic music and cryptocurrency enthusiasts will be able to purchase tickets for attendance using the EGLD cryptocurrency, which powers the Blockchain Internet-scale Elrond Network and viral crypto super app Maiar, ”they wrote in the statement.
Untold partners with Elrond Network
One of the main music festivals in Europe and the largest in Romania, Untold 2021 will bring together three renowned DJs: David Guetta, Martin Garrix, Dimitri Vegas and Like Mike. It will also feature the participation of international musicians such as The Script, Parov Stelar, Tyga, Sam Feldt, which, among other well-known bands, artists and DJs, will take over the festival stages.
Although with a limited capacity of attendees, the new edition of the festival promises to be an epic event. In 2019, Untold it had 372,000 participants from around the world. Has been designated Best Festival of Importance in the European Festival Awards.
In this edition, in addition to including digital currencies as a new form of payment, the festival is also venturing into the world of tokens non-expendable. According to the statement, the creative collaboration with Elrond will give all attendees to Untold the opportunity to live a “NFT moment” special.
“The technology Blockchain It has immense potential for large gatherings of digital natives that for a short time become part of a hyperlocal economy. This year we are committed to purchasing EGLD tickets and to the NFTs“, Beniamin Mincu, CEO of Elrond Network.
The festival will launch a series of collectibles at the marketplace NFT de Maiar after the celebration of the concert. “Attendees will be able to collect [los tokens] as part of his eternal digital collection of important moments in life “.
First music festival to launch NFT
Untold became the world’s first music festival in April to launch an NFT collection. The tokens, available in the market of OpenSea, represent the “most important characters and stories from the enchanted world of our festival“, According to the team announced.
— UntoldFestival (@UntoldFestival) April 13, 2021
In this regard, the CEO of Elrond He announced that the association will continue to explore other advantages of technology for future editions of the festival.
We hope to explore other use cases in future editions, such as the economics of a festival that runs on semi-expendable tokens issued on the Elrond network, or that artists drop NFTs live on stage, so that all their fans are engaged in a way. exclusive.
According to Elrond, any fees for settling the ticket purchase using EGLD will be recorded in the balances of Untold. Ticket prices start at € 159, or roughly 1.25 EGLD at the time of publication. Elrond will also have representatives in Untold to educate festival goers about crypto and Blockchain.
“We are excited to work alongside the Elrond Network and merge the living and the digital into a series of unique moments. And we are happy that, thanks to this partnership, our community can interact with technology. Blockchain at the festival site ““Added Bogdan Radulescu, Head of Partnerships and New Businesses at Untold Festival.
Version by Hannah Estefanía Pérez / DailyBitcoin
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