Popular DJ artist Justin Blau also know as DJ 3LAU, is entering the world of cryptocurrency by launching a Blockchain powered Music festival which will be held on October 20 in San Francisco
Nowadays Blockchain technology is harnessed in almost every field possible that a human can imagine. Music being a quintessential part of man since ages is no exception to this.
The Our Music Festival(OMF) business venture has decided to giveaway OMF tokens powered by second most popular cryptocurrency Ethereum. These tokens can then be used for trading, by music fans all over the globe.
As quoted by Blau in an interview called ‘Countdown to the Closing Bell’,
“Fans can trade digital assets such as tickets as fungible currencies within a festival network which would include festivals all over the world that are both branded as Our Music Festival”
Now if you are wondering how to get access to these OMF tokens, it can be obtained by just participating in the festival experience and redeeming tickets, which eventually can be used for VIP upgrades, merchandise, food, and beverages.
Blau coming from a background of music from his childhood days has been active bitcoin investor and believes in the fact that using blockchain technology a platform with a fraud-free ticketing system and ticket with worth its money can be created.
Apparently, the blockchain technology came into existence because to combat such various piracy and trust issues. In this regard, he added that
“Imagine a world where a ticket is completely verifiable via blockchain technology via the progress that ticket makes across lots of transactions”
The sole idea behind the creating crypto-based OMF tokens is that to make ticket booking a hassle-free process and also to many such issues faced by the music industry namely scalping, ticket price inflation. Although the ticket price is not yet revealed, the investing company is expecting the blockchain based platform might boost the festival lineup and locations.
Interestingly this is the first ever live music event powered by blockchain. The show will also include eminent folks from DJ industry such as Adam Lynn of Prime Social Group, popular and highly paid DJ artist Zedd and a host of EDM and hip-hop act including 3LAU himself.
On an ending note, Blau mentioned that,
“We’re not looking for money, we’re looking to give fans an experience.”
So folks, what do you think of using cryptocurrency in DJ events? Share your thoughts in below comments.