UC Berkeley’s Greek Theatre is all set to host first ever music festival powered by cryptocurrency. The venue decided is the famous theatre at the University of California, Berkeley.
On Saturday, October 20th, Berkeley will continue the tradition by hosting the very first music festival. The theatre has a speciality i.e. it is built with the funds generated from newspaper mogul William Randolph Hearst. It’s officially named as Hearst Greek Theatre, opened in 1903, with capacity of 8,500.
The Bay Area festival will use its own OMF token for the purchases of products, services, and experiences within the network.
OMF, in the festival, will begin the gateway for the transactions between event organizers, artists and consumers that will participate in the ecosystems, production, hospitality, food, sponsors, transportation of the festival.
The OMF tokens will not be limited to the on-site features, OMF is planning to develop technology that in the future will also reduce ticket inflation, scalping.
Line-up of Zedd, Big Sean, 3Lau, Matt and Kim, and Charlotte Lawrence will also be the center of attraction for the people. As of now, three of the total four general tickets are sold out, and one out of the three VIP packages have been sold out.
As per the reports of Time Out, the festival will also have a ‘crypto corner’ where the participants can learn more about cryptocurrency and can engage with the giant blockchain companies.
The festival will open doors for future crypto powered festivals and help to create a crypto-ecosystem. US music festivals like Bonnaroo and Coachella are yet to accept the crypto. Although California, the home of Coachella, Indio, does keep a nearby crypto ATM.
Besides just serving an ecosystem for such festivals, crypto also represent innovative and envelope-pushing values which are the bases to build an art and music festival.