Tribeca Film Festival Will Sell VIP Passes as NFTs

Tribeca Film Festival Will Sell VIP Passes as NFTs

The Tribeca Film Festival is capitalising on the growing number of use cases for non-fungible tokens (NFTs) by selling VIP passes as digital collectibles.

The annual film festival’s first foray into NFTs, the VIP passes, was created in collaboration with the cryptocurrency exchange OKX. They will come with benefits like special access to movie screenings and invitations to exclusive events with the festival’s co-founders Jane Rosenthal and Robert De Niro because they were created on Ethereum.

The NFTs are available for direct purchase through the Tribeca website for $899 using a credit card. Through the OKX NFT marketplace, more seasoned NFT collectors can also pay for the passes in ETH. The landscapes of Lower Manhattan, where this year’s festival will take place from June 7 to 18, served as inspiration for the design of the NFT artwork.

The Seychelles-based exchange is eager to use blockchain technologies to reach new audiences and bring the event into Web3, according to Nate Zou, head of Web3 products at OKX.

From older people to younger generations, across all types of work, “[the Tribeca audience] is perfectly spread across all different demographics,” claimed Zou. “I believe they are the ideal example for us to teach the general public about this technology,” the author said.

The VIP tickets are a component of a larger collaboration with OKX, which agreed to become the festival’s lead sponsor last year.

It’s not the first time a significant cultural event has mixed with cryptocurrency businesses; last year’s Grammy Awards featured sponsorship from music NFT marketplace OneOf and cryptocurrency exchange Binance.

Zou is hopeful that events that take place after Tribeca will use NFTs in their ticketing plans.

In the future, we and our partners can use [this event] as a great model, according to Zou. Anyone with an interest can introduce the new technology to their current clientele to see if there is any interest.

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