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A blockchain-powered music festival is coming to San Francisco this October

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Peter Terlato
Posted: 3 August 2018 6:27 am
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The festival line-up includes popular acts such as Big Sean, Matt + Kim, Zedd, 3LAU and Charlotte Lawrence.

San Francisco, the urban centre of technological development in America, will host the first ever decentralized music festival in October, where attendees can redeem cryptocurrency for products, services and experiences.

The Our Music Festival will be held at The Greek Theatre, UC Berkeley on October 20, 2018. The line-up, according to the festival's website, includes hip-hop icon Big Sean, electronic music artists Zedd, Matt + Kim and 3LAU, as well as pop singer Charlotte Lawrence. The single day event will run from 4-11pm.

The festival will utilize a new digital currency token, OMF, as a medium of exchange. Concert-goers can currently purchase tickets using bitcoin, ether, Litecoin and Bitcoin Cash. Pre-sale tickets are already sold out.

General admission tickets will go on sale 3 August, starting at US$29. VIP tickets will also be available.

OMF 2018 also offers a free upgrade points program for every friend you bring or recommend to the festival. Attendees who sell six tickets will garner enough points for a Weekend Pass. Those that sell 11 will receive VIP entry. Additionally, the event’s top sellers will be treated to an “unforgettable experience”.

The OMF token exists on the Ethereum network and can be used as currency at similar branded events. This is the first instance where concert booking fees are being processed on a live blockchain application.

Here's how it works:

Justin Blau (3LAU) is the chief executive of Our Music Festival. Creative Artists Agency, Paradigm Talent Agency, Spotify, Billboard, Prime Social Group, CID Entertainment and SINGULAR DTV are supporting organizations.

OMF completed its private sale during the second quarter of 2018, according to the company's digital roadmap.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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