FTX Web 3 Deal Tomorrowland

UTC by Ibukun Ogundare · 3 min read
FTX Web 3 Deal Tomorrowland
Photo: Unsplash

For FTX, the collaboration means increased trading activities and more innovative product offerings.

Crypto exchange giant FTX has sealed a deal to bring NFTs to the Belgian electronic dance music festival Tomorrowland. According to the announcement, FTX is collaborating through its new arm FTX Europe.  FTX Europe is the European and Middle East division of the crypto company. Through FTX Europe, merchants in the European Economic Area and the Middle East can access FTX’s inventive by-products, options and volatility index, stocks, and other virtual assets. The exchange will work in unison with the music festival to make its annual record of more than 400,000 attendees interested in Web 3.0 platform entertainers. Moving forward, the attendees would be sold crypto-facilitated ticket options and digital assets belonging to Tomorrowland. This helps the company in its incorporation of crypto into events, music, and dance.

The FTX -Tomorrowland Web 3.0 deal will begin with The Quest; a feature event at Tomorrowland’s Winter Festival coming up on March 19th. The event will offer 1,500 of 6,500 NFTs to attendees in all festival locations for a better experience. Also, 250 winners will be rewarded with exclusive events during the festival. The long-term initiative will also enable Tomorrowland to incorporate Web 3 and NFTs to their annual events, including Tomorrowland in Belgium and the renowned digital festival Tomorrowland Around The World. In addition, the FTX partnership with Tomorrowland will explore a diverse range of applications on Web 3 and NFTs for music, ticketing, metaverse events, and crypto remittance.

The FTX collaboration with Tomorrowland ticks another achievement for the crypto exchange since it began valuable investments in sports and fashion last year. It also includes putting its logo on jerseys and billboards. It also produced a Super Bowl Ad featuring prominent Larry David and replaced Miami Heat’s home stadium with FTX Arena.

The Partnership Gains for FTX Europe and Tomorrowland

Tomorrowland’s expansion to Web 3 and NFTs gives the chance to demonstrate earnest relation to its community. It also means the music festival will engage attendees with modern ticketing options, entertainers with artistic channels. In the long run, lovers of Tomorrowland will earn, collect or buy Tomorrowland’s digital assets.

For FTX, the collaboration means increased trading activities and more innovative product offerings. The partnership seems to be getting off on the right foot, with both entities agreeing. Founder and CEO Sam Bankman-Fried said:

“We’re also aligned in our shared belief that community, accessibility, transparency, and sustainability are the leading factors for a better Tomorrow.”

Michiel Beers, co-owner of Tomorrowland, is certain that the collaboration is felicitous and in line with the festival’s essence.

The FTX-Tomorrowland Web 3 collaboration is FTX Trading Ltd’s second music festival partnership in 2022. Last month, FTX US partnered with Coachella Valley Music & Arts Festival. The exchange brought Lauren Remington on board, creating a new position for her as Head of Global Luxury Partnerships.

Altcoin News, Blockchain News, Cryptocurrency news, News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

WhaleMaker
Related Articles
WhaleMaker