The festival's brand and IP are on the market after the follow-up event was indefinitely "postponed."
Cleveland music and media exec Shawn Rech has licensed the infamous brand name for a new fan-curated music video streaming service.
Organizers for the event, a follow-up to Billy McFarland's failed 2017 Fyre Festival, are reportedly telling ticketholders it will be rescheduled.
Billy McFarland shared copies of alleged permits and approval letters from local officials on Instagram in an effort to reassure ticketholders.
The festival is reportedly slated for May 30-June 2 on an Island off the coast of Mexico.
The festival, which follows 2017's disastrous Fyre Fest from convicted fraudster Billy McFarland, is scheduled to take place on Isla Mujeres in Mexico from May 30 to June 2.
After several false starts, the high-profile ex-con said his redemption event is set for April 25-28 off the coast of Mexico.
Justin Custardo promised revenge for Fyre Fest victims, but was TKOed in the second round at the Karate Combat 46 event in Austin.
He also revealed that the Bahamian people and companies owed money from the disgraced first edition of the festival "are getting paid back right now."
