Billy McFarland has formally auctioned off the mental property, emblems, and belongings 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 “essentially the most well-known pageant model” round. The winner will now obtain management of the Fyre Fest model title, emblems and mental property, social media accounts, advertising supplies, and domains. Plus, they’ll get documentary footage, the choice for a Caribbean pageant location (which McFarland introduced previous to the sale), and electronic mail and SMS lists. In the meantime, a few of the Fyre IP had already been bought to documentarian Shawn Rech, who plans to make use of the title 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 just simply put $250 grand in that man‘s pocket — which can not go very far, on condition that McFarland has confessed to nonetheless owing $26 million to the preliminary Fyre buyers.
