FTX Europe partners with Tomorrowland festival in Web3 push
The European arm of crypto exchange FTX has partnered with Tomorrowland to push NFTs to festival goers.
Tomorrowland, one of the largest electro musical festivals in the world which regularly attracts more than 400,000 attendees to its annual summer festival in Belgium, is planning to roll out Web3, NFT and crypto based experiences.
“It’s exciting to see the continued blending of crypto, music, and events,” said Sam Bankman-Fried, FTX’s 29-year-old founder and chief executive who boasts a net worth of $20bn.
“We’re proud to partner with Tomorrowland to bring their truly unique and magical events to the digital space by supporting their Web3, NFT, and crypto related initiatives,” he added.
FTX has fast become one of the most valuable projects in the crypto space. It raised $400m in a January funding round which saw the company’s valuation top a staggering $32bn.
In a sign the company has cash to splash FTX is pursuing global expansion launching its European division earlier this week which will bring products and services to users across the continent. The crypto exchange is plotting further inroads into the entertainment industry with the launch of a new gaming division.
“We are looking into all new developments in terms of NFTs the metaverse and so on,” the head of FTX Europe, Patrick Gruhn, told City A.M.. “So it’s just a perfect match for positioning from FTX because now we can officially be active in Europe.”
The newly announced partnership with Tomorrowland will kick off at the Winter festival which takes place at a ski resort in the French Alps each year.
Festival goers will be able to take part in a “quest” which will involve hunting for 1,500 NFTs hidden around the festival which will give participants the chance to earn access to exclusive concerts held at secret locations in the process.
Michiel Beers, Founder of Tomorrowland, said, “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 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,” he added.
Read more: Crypto exchange FTX plots global expansion with launch of European arm