Untold Festival, the largest electronic music festival in Romania, has partnered with Elrond network, a blockchain platform, to bring cryptocurrency closer to music fans.
In its recent announcement, Untold Festival said that its 2021 festival tickets could now be purchased by its loyal music followers using Elrond eGold (EGLD).
The organizers also announced that it got a green light to accept an unlimited number of attendees (despite the existing cases of COVID-19 in Romania). This confidence might be attributed to the fact that the country had kept its virus cases below 1,000 since June.
Going for the ‘e’ Gold
“Blockchain technology has immense potential for large gatherings of digital natives who for a brief period of time have become part of a hyperlocal economy,” Banimain Mincu, Elron Chief Executive Officer, said.
Mincu also said that their partnership with Untold Festival is also meant to test the variability of semi fungible tokens on a festival economy. They are also exploring the possibilities of artists dropping NFTs to fans while they are on stage.
Ticket prices will start at 159 euros ($186), which is equivalent to around 1.37 EGLD as of today.
To further streamline Untold Festival’s venture into NFTs, Elron will send representatives to educate the festival attendees about the benefits of crypto and blockchain.
Highly popular festival
Last 2020, organizers were forced to cancel the Untold Festival due to the global pandemic. In 2019, the festival had an amazing 375,000 attendees from more than 120 countries.
But the organizers have conceded that this year, the numbers may sharply drop because of the existing travel restrictions to prevent the further spread of the virus.
The EGLD token is fastly becoming a hit in Romania as more and more companies are expressing their interest to use it as a form of payment.
Image courtesy of Cointelegraph News/YouTube
Source: https://bitcoinerx.com/bitcoin/elrond-egold-can-now-be-used-for-european-music-festivals/
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