You're never going to believe this, but something involving the Fyre Fest didn't work out as planned. In spring, eight years after the notorious Fyre Fest boondoggle and around the same time that plans for a second (first?) Fyre Fest were coming apart, founder Billy McFarland sold some of the festival's IP and trademarks to a guy named Shawn Rech, who is planning to use the name to launch a sketchy-sounding music streaming service. That's just part of the overall Fyre assets McFarland is trying to offload, since he owes $26 million in restitution to those he defrauded.
In an Instagram post this morning, Billy McFarland filmed himself saying, "We had a seven-figure deal for the complete Fyre brand and IP package that fell through this morning." That is some sad, sad news. But, as McFarland points out, there's an upside: "Now, the opportunity to own the Fyre brand is back on the table." You could use that name to launch your own sketchy festival, sketchy hotel experience, whatever other sketchy endeavors you've got going!
