The founder of the infamous Fyre Festival announced that he is selling the Fyre Festival brand. The 33-year-old businessman shared the news in a long Instagram post, explaining his decision and what it means for the future of the festival.
“When my team and I launched FYRE Festival 2, it was about two things: finishing what I started and making things right,” McFarland began. He mentioned that he and his team had worked hard for the past two years to bring back Fyre Fest “with honesty, transparency, relentless effort, and creativity,” and they were committed to rebuilding trust.
However, McFarland admitted that the brand became too big for him to handle alone. He explained, “We have decided the best way to accomplish our goals is to sell the FYRE Festival brand, including its trademarks, IP, digital assets, media reach, and cultural capital.”
McFarland also talked about how the attention Fyre Festival received had grown out of control, especially when it came to planning Fyre Festival 2.
He said that several Caribbean locations showed interest in hosting the event, but the media attention soon became overwhelming. “I can’t risk a repeat of what happened in Playa Del Carmen,” McFarland said, referring to the chaos surrounding the original event.
He also explained that stepping back and letting a new team take over was the best way for Fyre Fest to move forward. “To the supporters, believers, and builders who’ve stuck with my team and me: thank you,” he said. McFarland added that the new team would be chosen based on their ability to bring Fyre Fest’s vision to life “in a transparent, grand, and expeditious manner.”
Before this announcement, Fyre Festival posted on social media that the event would be “postponed and will be rescheduled for a later date.”
Ticket holders were given refunds, and no new location was confirmed. Fyre Festival 2 was originally set to take place on Isla Mujeres from May 30 to June 2, with ticket prices ranging from $1,400 to $1.1 million.
However, the Isla Mujeres Tourism Board quickly denied any knowledge of the event, saying, “For us, this is an event that does not exist.”
As many remember, the original Fyre Festival in 2017 promised a luxurious experience with top influencers and music acts but ended in disaster. McFarland was later convicted of wire fraud and served four years in prison.
Even though Fyre Festival 2 is uncertain, fans can still grab some official Fyre Fest merch while it’s available!
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