As crypto continues on its quest to reach the stars, more doors are opening for cryptocurrency holders. Now party goers can buy tickets to one of the biggest European music festivals, and listen to the world’s top DJs, including megastar David Guetta, using cryptocurrency.
Organizers of UNTOLD 2021 have teamed up with blockchain unicorn Elrond Network to further introduce crypto to the entertainment industry.
Enthusiasts of both electronic music and crypto will have the opportunity to purchase tickets using the EGLD token that powers the Elrond network.
Opportunities to Learn About Crypto During the Festival
Representatives of the Elrond Network will be in attendance in a special Elrond lounge to meet their community of crypto enthusiasts, and anyone interested in learning more about the crypto world.
The company will share information about exciting developments in the Elrond ecosystem, while crypto newbies will have the opportunity to take the initial steps into the crypto world by getting their first wallet and putting cryptocurrency in it.
"Blockchain technology has immense potential for large gatherings of digital natives who have, for a brief period of time, become part of a hyperlocal economy.
This year we engage with EGLD tickets purchases and NFTs. We look forward to exploring additional use cases in the following editions, such as a festival economy running on semi-fungible tokens issued on the Elrond Network. Also, artists dropping NFTs live on stage, for all their Maiar fans to engage with uniquely." Expressed Beniamin Mincu, CEO at Elrond Network.
Capturing Life’s Moments as NFTs
UNTOLD is Romania’s summertime music festival sensation that was awarded with “Best Major Festival” in the European Festival Awards, 2015.
Every year the festival gathers 300,000 dance fans from across the continent and transforms the city of Cluj-Napoca into the perfect holiday destination.
This year, attendees will not only be able to purchase tickets using cryptocurrency, but will also have a special opportunity to experience the world of NFTs. Organizers have promised an “NFT moment” on the main stage, which is still shrouded in mystery.
The resulting NFTs will be dropped on the Maiar NFT Marketplace at a later time, at which time attendees will be able to pick them up as part of their eternal, digital collection of important life moments.
Mail app is a digital wallet and global payments app powered by Elrond’s blockchain technology. The Elrond Network is a highly scalable, fast, and secure blockchain platform that aims to create a new internet economy.
Bridging Digital and Material Experiences
Bogdan Radulescu, Head of Partnerships and New Business at UNTOLD Festival, noted that the world has changed since the pandemic began. and people now appreciate digital experiences more than ever before.
The collaboration fees between the two partners will be settled in EGLD, marking a key precedent for cryptocurrency’s movement as a relevant financial instrument in the entertainment industry.
"We are excited to work together with the Elrond Network and fuse the live and digital together in a series of unique moments. We are happy that thanks to this partnership, our community will be able to interact with blockchain technology on the festival site," said Radulescu.
On The Flipside
- To mark the important precedent for cryptocurrency becoming a relevant financial instrument in the entertainment industry, a wider choice of cryptocurrencies should be onboarded.
- More companies working in creative industry fields should dabble in the crypto ecosystem to significantly impact the entertainment industry.
- Organizers face the challenging, yet creative task of making an introduction to crypto entertaining, catchy, and addictive.
Why You Should Care?
- The Elrond Network’s blockchain platform has solved the scalability problems of Ethereum and could be the next big thing in the cryptoverse.
- Elrond became the first carbon-negative European blockchain, unlocking a new wave of sustainable innovation, in line with the European climate policy.
- The entertainment industry and culture enthusiasts are witnessing the emergence of new forms of digital culture, and artistic expression.
- The massive event is a huge opportunity to increase awareness of the potential of crypto.
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