OpenSea and Coachella have collaborated to introduce three NFT collections, offering access and exclusive items both in the physical and virtual realms. Coachella, a prominent figure in music and art festivals, brings its influence to this partnership.

The initial three collections include the VIP pass and Oasis Lounge Keepsake, which were released on Tuesday at a price of $1,499 each, with a limit of $1,000 per NFT. The remaining two collections are scheduled for delivery between the last two weeks of March and the middle of April.

These NFT collections will be powered by Avalanche, the eighth-largest blockchain in terms of NFT sales volume over the past 30 days. Avalanche's collaboration with Coachella underscores its suitability for the festival's needs, although further details have not been disclosed.

OpenSea, boasting 80 million NFTs and over 2 million collections, serves as the marketplace for these NFTs. The growing NFT market now offers more than just overpriced digital profile pictures (PFPs), providing offline and online benefits.

Devin Finzer, CEO and Co-Founder of OpenSea, sees the potential for mainstream adoption of cryptocurrencies through ticketed collections and NFT-centric music. He believes Coachella has the power to revolutionize the NFT space.

With global NFT sales volume reaching $23.7 billion on January 1, 2022, and $2.21 billion as of February 2024, the NFT market continues to expand. OpenSea, facilitating transactions worth over $20 billion in volume, holds the fourth position with a 10% market share.

Moreover, this collaboration aims to streamline the NFT purchasing process by enabling a simple email sign-up, eliminating the need for newcomers to create a crypto wallet or purchase cryptocurrency.