Owner of the disgraced, failed Fyre Festival Billy McFarland has put the intellectual property for the festival up for auction on eBay.
This comes after a reported seven-figure sale of the IP to entrepreneur Shawn Rech fell through. Rech planned to use the IP to start a music streaming service, but it seems he got cold feet, as McFarland did not receive any additional explanation for the abandonment of the sale.
"The opportunity to own the Fyre brand is back on the table," McFarland announced in an Instagram video. Among other salacious claims, he said that putting this IP up for auction is the "craziest thing" he's ever done (yeah, sure).
He continues, "Today I am taking the most famous festival brand, Fyre Festival, and putting it up for auction on eBay, starting at one cent. We’ve had over 1,000 offers for the Fyre brand, but I am done playing games.”
The auction currently has 71 bids, with the price to beat currently sitting at $50,000, which is well below the supposed seven figures it was initially supposed to be sold for. The winner of the auction will own full access to the brand name, registered trademarks and IP, social media accounts, marketing assets, and Fyre festival domains.
McFarland's second attempt at Fyre Festival made headlines in February, which fell flat on its face after the jurisdiction of the island they planned to host it on claimed they were never contacted by any representative of the festival. God forbid someone wants a nice cheese sandwich on the beach!
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