The Estonian ‘I Land Sound’ Music Festival, a large-scale high-quality alternative music concert was, to some extent, a crypto affair. The event saw over 25% of the people present use the cryptocurrency Dash as their mode of payment.
The annual shindig is organised on the remote islet of Illiku situated in the Estonian territory. Apparently, the electronic concert was the first event ever to use cryptocurrencies.
The festival attracted a total of 4000 music enthusiasts out of which 1000 people made payments for their purchases through Dash. The participants used the Near Field Communication wristbands designed for payment along with the food, beverages, and merchandise.
19000 euros, was reportedly spent by the organisers on the event. The organisers wished to make the festival a crypto music festival but dropped the idea owing to the complications involved in bringing in the digital wallets and private keys.
Fernando Gutierrez, the Chief Marketing Officer for Dash said, “There was no good solution back then to do all of this in an easy and seamless way.” There was an abundance of other payment options but eventually, none of them worked out. When the talks of using cryptocurrency did surface, there were doubts pertaining to Dash as well as the use of digital currency in general. According to the CMO, the issue was solved when the festival organiser hired another developer and worked on some coding together to finally land themselves an efficient and effective solution.
Gutierrez pointed out that the NFC wristbands were a common tech these days, their twist of crypto was “unique”. The amount not spent by the user was either credited back in cash or transferred in the form of cryptocurrency.
Dash’s Decentralised Autonomous Organisation also helped the organisers of the music festivals. It was offering Point of Sale systems which provided major assistance to traders and food trucks while also selling Dash’s own merchandise like tables, beanbags and other promotional stuff.
The festival promoters and Dash are equal partners in the venture. It is a great opportunity for Dash to spread awareness about its tokens and the many ways in which they can be used.
Currently, Dash is trading at $236.67 against the US fiat after it fell down by 1.3%, with the total market capitalisation of $1.94 billion.