The infamous Fyre Festival brand has been sold on eBay for $245,000 after a week-long auction.
Billy McFarland, the festival's original organizer who served time in prison for defrauding investors tied to the original disastrous event, expressed disappointment in the final bid but said he looked forward to finalizing the sale.
He said he had hoped to get at least one million for the festival's brand and intellectual property. McFarland did not disclose the buyer's identity.
"Fyre Festival is just one chapter of my story, and I'm excited to move on to my next one," McFarland wrote on social media.
McFarland claimed that the auction became the most-watched listing on eBay that did not belong to a charity.
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He said "attention is currency" and that is part of the belief behind his next business venture — "a tech platform designed to capture and power the value behind every view online."
The Fyre Festival, billed as a luxury outdoor musical festival on a private island planned in 2017, became notorious after the glamping adventure in the Bahamas turned disastrous.
The event quickly became the subject of social media ridicule and later the focus of two documentaries on Netflix and Hulu.
A second Fyre Festival planned for 2023 was later canceled after selling tickets.
McFarland pleaded guilty to wire fraud and other related crimes stemming from the first Fyre Festival.
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