The SXSW music festival has announced that Blockchain Creative Labs will be a sponsor for the upcoming 2022 event. The firm operates as the NFT developer for Bento Box Entertainment and Fox Entertainment. It’s also the first time SXSW is choosing a blockchain sponsor.
With this collaboration, the festival will mint its very own NFT with help from the product portfolio by Blockchain Creative Labs. People in attendance can even tokenize their work at the festival, which will be held in Austin, Texas. It will take place starting from March 11 until March 20. Once Blockchain Creative Labs develops the NFTs, they will be suctioned off on an Eluvio-powered blockchain. This is the monetization and distribution platform by Fox.
The CEO of Blockchain Creative Labs, Scott Greenberg, is excited about the collaboration. He is of the opinion that the festival sparks numerous discussions in the tech industry. The event also leads to collaborations between creatives and tech leaders. The result is that it drives innovation, forms better business models, and encourages artists by giving them a platform. In the end, it combines to upgrading the audience’s experience.
He went on to state that the festival, which will take place next year, will be one to remember. The 2022 installment will mark the event’s eagerly-awaited return, but more importantly, how it’s coming back with new innovation. It will be a way to show the audience what assimilation of NFTs into mainstream use looks like. It can also be a way to discuss the different uses and benefits of blockchain in society, and how it can pave the way for tech integration. Because of the festival’s futuristic setup, it can act as a peek into what crypto has in store for the future.
The chief technology officer of the SXSW festival, Justin Bankston, is excited about the collaboration and sponsorship, to say the least. According to him, it will be a great opportunity for the crypto community to come up with advanced applications. These will include blockchain and NFT technology so as to ensure that content creators can enjoy success from their work.
According to the SXSW website, the event focuses on various crucial breakthroughs in domains like music, culture, film, and technology. It also explains that the platform enables a diverse range of topics to be discussed about by a diverse group of people.
But SXSW isn’t the first brand to get a crypto or blockchain sponsor. In fact, many events, especially sporting events, are leveraging their reputation to get new and exciting sponsors. Many of these are leading blockchain firms and crypto services providers. It’s showing how these businesses will go beyond sponsoring crypto-related events, and come into the mainstream.