Fyre Fest brand changes hands in unexpected eBay deal

After founder Billy McFarland used eBay to raise money for the festival’s intellectual property, trademarks, and social media assets, the Fyre Festival brand sold for an unexpected $245,300. According to Rolling Stone, McFarland is still owed more than $26 million in reparations for the 2017 Fyre Fest’s failures. The first Fyre Fest was the subject of legendary festival mishaps. In the days before the event, the booked bands began to withdraw after being teased by models and social media influencers. Concerts that were promised never materialized, and those who did make the trip were met with poor lodging, poor food, and a dearth of facilities. Additionally, one attendee’s social media post of a cheese sandwich is among the enduring pictures of the festival’s failure. Following the inaugural festival’s terrible outcomes, McFarland was subject to “lawsuits and criminal charges,” which ultimately resulted in his serving time in jail for fraud. In the end, he was allowed to leave prison early. McFarland then started hinting about a second Fyre Festival earlier this year. However, McFarland started to reevaluate the future of Fyre Fest after two attempts to organize an event failed. In April, McFarland declared his intention to find a new buyer for the Fyre Fest brand after first selling some of the festival’s branding to a streaming provider.

McFarland declared his intention to sell the remaining branding on eBay after an earlier attempt to sell to a new bidder failed. The winner of the Fyre Festival branding outlasted 175 bids from 42 bidders throughout the week-long bidding phase. According to NBC News, McFarland was heard saying, “Damn,” during a live-streamed event about the sale. “This is terrible, it’s so low,” the seller said when the bidding reached the $240,000 threshold. At $245,300, the new buyer—who is not yet identified—has acquired the domain names, branding, social media assets, and “extensive media coverage archive” in addition to access to “the core team,” which was considered complimentary. In essence, that would provide the new owner access to McFarland in case they wanted his help with any usage.