Billy McFarland has formally auctioned off the mental property, logos, and property for Fyre Fest on eBay for a sum of $245,300.
The sale arrives after McFarland’s seven-figure deal to promote Fyre Fest had apparently fallen by means of earlier this month; in response, the ‘contrepreneur’ (con man + entrepreneur) introduced he’d be auctioning off the model by way of eBay, with the beginning bid being one cent.
That eBay public sale was definitely profitable for McFarland, who considers Fyre Fest “probably the most well-known competition model” round. The winner will now obtain management of the Fyre Fest model identify, logos and mental property, social media accounts, advertising and marketing supplies, and domains. Plus, they’ll get documentary footage, the choice for a Caribbean competition location (which McFarland introduced previous to the sale), and e-mail and SMS lists. In the meantime, among the Fyre IP had already been bought to documentarian Shawn Rech, who plans to make use of the identify for a brand new music-focused subscription video-on-demand platform.
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“Whoever owns the Fyre model could have an consideration engine to launch festivals, do merch collabs, do insane pop-ups, run livestreams, or construct a media model,” McFarland stated when asserting the sale final week. That’s all true, however in the event you’re the public sale winner, beware that you simply simply put $250 grand in that man‘s pocket — which can not go very far, provided that McFarland has confessed to nonetheless owing $26 million to the preliminary Fyre traders.