Billy McFarland sells Fyre Festival brand for $245K
The creator of the festival revealed that he had sold his brand, months after announcing it was for sale. The highest bid of the 175 that came in on Tuesday was $245,300 (£183,150).
According to a report by NBC, the businessman livestreamed the auction and said, "Damn. This sucks, it's so low," to the winning bid.
The unknown buyer now owns the "Fyre Festival - iconic brand, trademarks, IP, social media assets and more", according to the listing.
"This is your opportunity to take control of a brand that still trends every time it's mentioned."
McFarland shared an update on the sale on Instagram via what appears to be a Notes app screenshot.
"I would like to congratulate the winning bidder in the Fyre Festival IP auction on eBay. I look forward to working with them to begin the process to finalise the sale."
The disgraced businessman called the festival "one chapter of my story" and said he's "excited to move on to my next one".
The social media post claimed that the auction was the "most-watched non-charity listing on eBay" while it was live.
McFarland said that this proves "attention is currency, and views are the root of attention".
Fyre Festival was a doomed luxury music festival organised by McFarland and US rapper Ja Rule.
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