Coinbase Places High Stakes on Music Events, Funds The Governors Ball and Two Impending EDC Festivals
Coinbase, the renowned cryptocurrency, is gaining a lot of traction in the music festival sponsorship space.
Just recently, the company entered into an agreement, where it pledged to sponsor three grand events taking place this fall.
The first occasion is The Governors Ball happening in New York this upcoming weekend. The other two are The Electric Daisy Carnival festivals being held in Las Vegas in October, and in Orlando in November.
Wavemaker, which is ranked the second biggest media agency network globally, brokered these deals on behalf of Coinbase.
These are the very first grand events that Coinbase has ever sponsored exclusively in the crypto industry.
In all three festivals, the crypto intends to inaugurate an on-site non-fungible token (NFT) gallery.
The galleries will be held primarily to mark the 10-year run that each of these festivals has had. As a result, the galleries will be showcasing highly collectible unique NFTs which will be a vivid representation of memorable moments from previous years.
The NFTs will be up for sale the entire weekend; for interested attendees to buy.
Furthermore, live moments from the festivals happening this year will be displayed in real-time and made accessible for fans to buy.
Coinbase was asked about its intentions in sponsoring the said festivals. In response, Maggie Jones, Wavemaker’s associate director, said that they wanted to get people thrilled about the crypto world.
In particular, they aim to persuade more people to download the Coinbase app and create accounts with the crypto.
Not many crypto firms have tapped into the potential of the music festival space. By sponsoring these events, it’s evident that Coinbase is also trying to establish its position in this niche.