The name (brand) of the Fyre Festival, a music festival planned for 2017 but ended in complete failure, was sold on the eBay platform for $245,300. It is still unknown who bought the festival’s name and what they intend to do with this brand.
The festival was organized by Billy McFarland, who promised people a luxury event in the Bahamas featuring famous musicians, lavish villas, gourmet meals, and more. However, on the festival day, attendees had to stay in tents, received simple sandwiches as food, and were left stranded on the island without proper support.
This event caused a major scandal. When people realized they were deceived, McFarland was taken to court and sentenced to six years in prison. He was released in 2022.
After his release, he announced plans to organize a second event called Fyre Festival 2. It was reported that the festival would take place in Mexico with tickets priced between $1,400 and $1 million. However, Mexican authorities stated they had no information about such an event and that no permission had been granted. Thus, the second festival never happened.
Eventually, McFarland decided to put the Fyre Festival brand up for sale. He claims the brand can still be used in the fashion and entertainment industries. However, many believe the interest in the brand exists only because of its scandalous past.
Part of the money from the brand sale will be used to pay off McFarland’s debts — specifically, the amount owed to people who were deceived during the original festival. But since his total debt is $26 million, this amount represents only a small fraction.
This case shows that sometimes even a brand with a failed and scandalous past can be used to generate money again. Now everyone is watching closely: what will the buyer do with the Fyre Festival brand?
