Tuesday, February 25, 2020

First Ever Crypto-Powered Music Fests Opens in Berkeley

Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on damolabada@gmail.com

Berkeley is one of the most liberal cities in the United States with daring cultural propositions and experimental values. The city has once again not shied away from something new by hosting the first-ever music festival to be fully supported by cryptocurrency.

Berkeley is set to play host to the record-setting Our Music Festival with all-time famous University of California’s Greek Theatre poised to house more than 8000 music lovers. The hosting venue, Greek Theatre is one of the oldest amongst University campuses, and more than a century old, since its establishment in 1903.

The music festival would be using its own unique token, the OMF token, to allow users and fans to purchase physical or digital services and products within the network. The token would be reportedly used for a range of ubiquitous services, as the festival aims to bridge the gap between musical events and excellent fan experience. Greek’s Theatre official website said about the festival’s token:

“OMF will establish the gateway for all transactions between consumers, artists and event organizers that participate in festival ecosystems: merchandising, production, hospitality, food and beverage service, brand sponsors, transportation – the possibilities are endless.”

OMF has not been created mainly for use over its official website, its creators have stressed. Electronic dancer, producer and DJ Justin Blaun (aka 3LAU), who is the brain behind the revolutionizing project, sees OMF solving more complicated challenges associated with large festivals such as ticket inflation, and counterfeiting.

3LAU was generally taken lightly –when he first conveyed the idea of a tokenized festival to increase fan experience at musical events– given his musical and less-than-techy background. The popular musical figure has since revealed he is close friends with the Winklevoss twins, and his first interest in the crypto space began when the twins started work on crypto Gemini.

The festival is set to headline other famous stars apart from 3LAU himself, with Zedd, flashy hip-hop star, Big Sean as well as Matt and Kim included on the all-star list.

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