Blockchain And Cryptocurrency Enter Music World With More ‘Crypto Cool’ Friends

Blockchain and cryptocurrency are now becoming part of the entertainment world, and they were recently seen being part at Our Music Festival (OMF) on October 20 at The Greek Theatre in Berkeley. OMF was organized by Prime Social group, DJ and producer 3LAU and blockchain entertainment network SingularDTV.

The music festival witnessed 8,000 attendees and the event tickets could be purchased with cryptocurrency as well as fiat. The crowd was the usual EDC crowd bobbing up and down to the usual performers – Mati and Kim, Zedd, 3LAU and more – who got to their usual beats and kept giving an occasional shout out to the crowd as ‘my crypto cool’ friends.

The promotional idea by OMF is more than music festival. It isn’t just a try by OMF officials to push blockchain use and cryptocurrency but this points the fact that festivals can be improved. It can be used to enhance the ticketing process, reduce frauds behind buy and sale of tickets, engagement, data, inflation and make events far more inequitable.

The fans could get OMF token just by attending the festival and could use it for upgrades, food and more. The confetti blasts during the music festival comprised of small white paper with QR code that can be scanned on OMF app, as reported by Forbes.

This wasn’t the first time a music festival witnessed the use of blockchain technology. On August 20, Taipei hosted the world’s first music festival. This event was organized with the help of a partnership between world-leading blockchain-based payments provider Pundi X. the festival saw more than 30,000 XPASS cards purchase that was to be used for blockchain payment terminals at different festive shops, as published in Cision PR Newswire.

Cryptocurrency world and blockchain technology are young. They just don’t provide a level of transparency but of equality and access. With the rising usage of decentralized technology and digital wallets, it has only become easier to make payments.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Aabha Singh finds time from her hectic editorial schedule to write finance articles.

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