Fyre Festival creator Billy McFarland launches new virtual music festival that costs $250 per ticket

Fyre Festival founder Billy McFarland has unveiled his next music festival.

Look, the first big event he hosted went down in infamy, so you'd surely hope he's learnt a thing or two.

For the meagre sum of USD$250 (AUD$367, £206), punters can enjoy a digital music festival - so, basically, you stay at home.

What's most bizarre is that he will be using USD$50 (AUD$73.58, £41.40) from ticket sales to repay his debts.

So, you could have the privilege of paying back the people he initially ripped off on his behalf.

McFarland revealed the news on TikTok, telling the world that the online event will be called PYRT, pronounced 'pirate'.

In the short clip, which has been watched 30,600 times at time of writing, he explained PYRT will join forces with a 'small, remote destination' to host a 'handful of artists, content creators, entrepreneurs and any of you guys who end up joining the PYRT crew'.

So, you're paying to watch him have fun with 'artists and creators' who will be having a blast on a tropical island.

At least that's what he's promising at the moment.

While it might give Fyre Festival vibes, at least this time you won't get stranded on a tropical island with nothing but a mangy cheese sandwich to keep you company.

If the event even happens, that is.

The 31-year-old reckons PYRT will be a 'virtual immersive decentralised reality', whatever that is, and is 'definitely not the Metaverse'.

Mark Zuckerberg will be thrilled.

He explained that a technology very, very similar to the Facebook creator's Metaverse.

He did say the event would be held in the Bahamas or something similar, with the latter seeming more likely as the Bahamian Government wants nothing to do with him.

"The public is advised that no application has been made to the Government of the Bahamas for consideration of any event promoted by Billy McFarland or any entity or parties known to be associated with him," Deputy Prime Minister Chester Cooper wrote in a statement after McFarland teased the new project in November.

"The Government of the Bahamas will not endorse or approve any event in The Bahamas associated with him."

The Bahamian politician went on to call McFarland as a 'fugitive' who has 'several pending complaints against him by the Royal Bahamas Police Force'.

Probably best for you to do it virtually as well, Billy.

McFarland has since written to the government to 'profusely apologise' for the harm he caused.

"My main focus is how I can right the wrongs an how I can make the Bahamas and Family Islands, a region I care so deeply about, whole again," he wrote, as per TMZ.

Back in October 2018, Billy McFarland ended up being sentenced to six years in prison on fraud charges, and was ordered to cough up USD$26 million (AUD$41 million, £14.5 million) over the music festival mess.

McFarland was jailed after he was adjudged to have defrauded USD$27.4 million (AUD$40.3 million, £22.6 million) from investors into the ill-fated music festival, as well as selling tickets to the festival and other similar events.

He's now out of jail, and apparently has thrown his irons into the fyre - sorry, fire - once again.