The world’s first crypto-powered music festival, Our Music Festival (OMF), just came to the United States. Indeed, if you were in San Francisco, then a first of a kind opportunity took place in your backyard yesterday. Perhaps you may be wondering now, “What is a crypto-powered music all about?” Well, this piece has one aim, and that’s to put this innovative music festival into perspective.
A Cryptocurrency-powered Cryptocurrency
Regardless of how funny it might sound to say that a music festival is crypto-powered, its a big, innovative step. The Our Music Festival (OMF) used its own virtual currency called OMF token for all the festive activities. Yes, it was just that simple. For instance, food, beverages, tickets, products, services, merchandise, and many others items could be purchased with cryptocurrency. Apart from using transactions, Our Music Festival offered a crypto corner. For one thing, a crypto corner enables participants to engage the world’s leading cryptocurrency companies and get more insight into blockchain technology.
Details of Our Music Festival (OMF)
In detail, the OMF festival featured some of the biggest names in contemporary U.S. pop and R&B music. The stacked up lineup included Matt and Kim, Big Sean, Zedd, Charlotte Lawrence, and many others. Without a doubt, those names thrilled the fans during the festival.
Worthy of mention is that it took place in the legendary Greek Theater. Regarding the tickets, the price tags ranged from $79.50 USD to $350 USD. The tickets started selling like hot cakes from the start.
In their post, the organizers noted that Our Music Festival was a means of creating the first decentralized music festival. It also stated that the OMF token was to power the activities of the festival. In conclusion, the post pointed out that the token was redeemable for products, experiences (such as virtual, physical and digital) and services within the network.
Looking Beyond the OMF Festival
With the use of OMF tokens, Our Music Festival founders hope to combat any form of ticket price inflation, scalping, and counterfeiting. Certainly, it is a smart move. This festival served as the perfect meeting point of cryptocurrency and music, which resulted in limitless fun. No doubt, this concept could be an eye-opener for other music concert organizers to incorporate cryptocurrency into them. Cryptocurrency use cases are increasing as more and more merchants, retailers and business owners are adopting them. Similarly, blockchain technology has transcended music industry. Today, the innovative technology is already used for streaming music as well as supporting artists.
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