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Billy McFarland, the mastermind behind the disastrous Fyre Festival, has auctioned off the rights to the brand on eBay for a sum of $245,300. The identity of the buyer remains unknown, leaving speculation on what they intend to do with such a notorious IP.
Fyre Festival, originally marketed as a luxurious music event, turned into a nightmare for attendees who found themselves stranded on an island in the Bahamas. Instead of the promised upscale accommodations and gourmet cuisine, guests, including affluent millennial influencers, were met with flimsy tents and infamous cheese sandwiches.
McFarland, convicted of financial crimes related to the festival, served a prison sentence before his release in 2022. Despite this, he attempted to organize a second Fyre Festival in Mexico, offering tickets priced between $1,400 and $1.1 million. However, the event never materialized as the city of Playa del Carmen denied any knowledge of its planning and permit.
In a statement, McFarland touted the potential of the Fyre brand in various industries, conveniently omitting the festival’s notoriety for its colossal failure. A portion of the sale proceeds from the eBay auction is earmarked for restitution, though McFarland’s outstanding debt of $26 million renders this amount insignificant in the grand scheme of things.
