A Festival scheduled to be held in Romania next month has partnered with the Elrond network to allow concert goers to pay for their tickets in the form of cryptocurrency.
The tickets for the 2021 festival could be purchased using Elrond eGold. The festival reported that it would be allowed to have an unlimited number of attendees despite the ongoing pandemic.
Following the rollout of the ticket purchases with EGLD, Beniamin Mincu ,Elrond CEO said the project would be exploring “a festival economy running on semi-fungible tokens” as well as artists dropping nonfungible tokens to fans from the stage. Attendees will also be able to accept NFTs from the festival at a later time.
According to Elrond, any fees for settling ticket purchases using EGLD will be recorded on Untold’s balance sheets. Tickets start at 159 euros ($186), or roughly 1.37 EGLD at the time of publication. Elrond will also have representatives at Untold to educate festival attendees on crypto and blockchain.
The price of Elrond’s EGLD has risen significantly in the last month, from under $70 at the end of July to $136.79 at the time of publication. Some companies and institutions in Romania have said they are willing to accept the token as a form of payment, including the Lucian Blaga University of Sibiu.
