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Taylor Swift was set to partner with FTX, a cryptocurrency exchange that has now filed for bankruptcy, which would have included an arrangement to have concert tickets minted as NFTs (non-fungible tokens), it has been reported.\u00a0<\/p>\n
According to the Financial Times<\/a>, founder of FTX Sam Bankman-Fried was negotiating with Swift over a deal worth more than $100m (\u00a382m\/\u20ac95m).<\/p>\n FTX was set up in 2019 by Bankman-Fried and Gary Wang. By July 2021, it had become the world\u2019s third-largest crypto exchange. However, the company started to suffer at the beginning of last month and declared bankruptcy by November 11.<\/p>\n Following the collapse of FTX, many users reported that they were unable to access their crypto holdings \u2013 including NFTs like the Coachella Keys, which were launched earlier this year<\/a>.<\/p>\n These passes equalled lifetime entry to Coachella and were valued at a total of $1.4m<\/a>, but as of November, were frozen on the now-defunct FTX blockchain.<\/p>\n Despite skipping a disaster with an FTX NFT ticketing partnership, the Taylor Swift pre-sale still suffered major issues.<\/p>\n Ticketmaster witnessed unprecedented demand for The Eras Tour, causing several problems for the ticketing platform. The general sale was subsequently cancelled<\/a>, and both Ticketmaster and owner Live Nation are currently facing lawsuits<\/a> and questions<\/a> from US lawmakers<\/a>.<\/p>\n \t\t\t\t\t\t\t<\/p><\/div>\n