фото показано с : blokt.com

American DJ Justin Blau, better known as 3LAU, is going to create history by launching the first-ever blockchain-powered music festival. Named as “Our Music Festival” (OMF), this music festival is going to be launched on October 20 this year in San Francisco.

As reported by Fox Business, the people who will be attending the music festival can earn OMF tokens by simply participating in it. Tokens can be received by buying tickets, merchandise, food and beverages and by VIP upgrades. The earned tokens can in turn be traded. According to the rapper:

“Fans can trade digital assets such as tickets as fungible currencies within a festival network which would include festivals all over the world that are both branded as Our Music Festival.”

As far as the event is concerned, it will be filled with electronic dance music (EDM) and hip-hop artists such as Matt and Kim, Big Sean, Charlotte Lawrence, Zedd, including 3LAU.

According to Billboard, the 27-year-old American DJ joined hands with blockchain entertainment platform SingularDTV and concert promoter Prime Social Group to accomplish the project. One of the key aims of the festival is to use blockchain to create a platform that can determine the value of tickets and avert ticket fraud.

DJ 3LAU feels that blockchain technology is a viable tool in the music industry and that this is a big opportunity to introduce the many music lovers to the many benefits of the blockchain and cryptocurrency.

Previously, the young DJ declined a prestigious job offer on Wall Street in order to work in the music industry and make money using blockchain technology.

Apart from making the purchase of tickets quite easier with OMF tokens, this nascent technology is able to give artists more control over their content property. It also helps in making payment quicker and bringing transparency in the industry.

DJ 3LAU All Set to Launch First Blockchain-Powered Music Festival by October was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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