Oct 15, 2018 09:59 UTC
Oct 15, 2018 at 10:00 UTC
Berkeley is Hosting Crypto-Powered Music Fest
Bay Area’s newest fest, Our Music Festival (OMF) is going to become the world’s first ever crypto-fuelled festival. UC Berkeley’s Greek Theatre gears up to host the music fest which will be powered by cryptocurrency.
Berkeley is one of the most socially liberal cities in the United States which is known for its experimental and countercultural values. Now the city is continuing the tradition by organising the world’s first crypto-powered music festival on 20th October. The venue of the event will be the Greek Theatre at the University of California. The theatre was open in 1903 and has a capacity of 8,500.
According to the events.berkeley.edu website, OMF is creating the first decentralized music festival network powered by a cryptocurrency, OMF Token. The OMF Token is redeemable for products, services, and experiences (physical, digital, and virtual) within the network. OMF will establish the gateway for all transactions between consumers, artists, and event organizers who participate in the festival ecosystem. It can be merchandising, production, hospitality, food and beverage services, transportation, and brand sponsors. The network will be comprised of OMF branded events as well as partnered festival events.
By this event, concert-goers can not only earn but also can learn about the cryptocurrencies. The festival will also have a crypto corner which will give the participants a chance to chat with some of the top blockchain companies in the world and can learn more about the cryptocurrencies. Berkeley is the home of oldest campus in the University of California system, the University of California, Berkeley, and the Lawrence Berkeley National Laboratory so there will be a good strength of youngsters who want to know more about cryptos and blockchain.
If we talk about the music, OMF has assembled with the great line-up of talent including Grammy winner Zedd, Hip Hop royalty Big Sean, electronic dance and music producer 3LAU, indie-pop muses Matt and Kim and many others.
Berkeley festival has the potential to set the bar for the future festivals which want to incorporate a crypto ecosystem. Blockchain technology is going to offer musicians and artists increased autonomy and control over their work.