Yesterday, Fyre Festival founder, Billy McFarland announced that the festival’s IP had been sold on eBay for just $245 000. The eBay auction lasted for a week, and saw 45 bidders place 175 bids, with the identity of the buyer undisclosed at this time.
He also shared the news on social media of his upcoming plans to establish a new tech venture;“ the auction became the most watched non-charity listing on eBay since its run, proving once again that attention is currency”. He goes on to mention that this is the basis for his new tech platform which is “designed to capture and power the value behind every view online. It’s coming soon”
Billy is a convicted financial criminal who was convicted of a six year prison sentence in 2018 for wire fraud related to the disastrous Fyre Festival, which took place in 2017. Upon his release in 2022, he quickly went back to try and re-launch Fyre Festival. Earlier this year he announced plans for Fyre Festival 2, which was set to take place at Isla Mujeres, an island off the coast of Cancun, Mexico. However, this was also met with controversy, as the Mexican tourist board said they had no knowledge of the festival. Additionally, tickets for Fyre Festival 2 were priced up to a staggering $1.1 Million. 
