Organisers of the notorious Fyre Festival have reached a $2million settlement with 277 attendees, almost four years after a $100 million class action lawsuit was initially filed.

The new lawsuit will see each of the 277 attendees receiving $7,220 (£5247), although the figure could potentially be lower as Fyre Festival is still in the middle of a bankruptcy case with a selection of various creditors.

Lawyers representing ticket-holders for the Bahamian event have secured the settlement, but, as Billboard reports, it still needs a vote of approval to take place on May 13th.

US celebrity lawyer Mark Geragos initially filed the lawsuit in May 2017, and said that the luxury experience offered to attendees was, in reality, closer to The Hunger Games or Lord of The Flies.

“The festival’s lack of adequate food, water, shelter, and medical care created a dangerous and panicked situation among attendees suddenly finding themselves stranded on a remote island without basic provisions,” said Geragos.

Fyre Festival’s Billy McFarland (Picture: Getty)

Fyre Festival founder Billy MacFarlane is currently serving a six-year sentence at the Federal Correction Institution in Elkton, Ohio after pleading guilty to multiple counts of fraud, including for the disastrous festival in April 2017.

Elsewhere, Ja Rule recently announced that he is selling the infamous cheese sandwich tweet from the festival as an NFT (non-fungible token).

Trevor DeHaas’ image of the meagre snack became widely emblematic of the doomed event after he revealed that it was being given to festival-goers who had shelled out thousands to attend.

Taking advantage of the current NFT trend, a Flipkick listing describes the snack as a “Meme. Cultural touchstone. Cheese sandwich”.

It comes after Ja Rule previously sold his Fyre Festival logo oil painting in NFT form for £88,640 (US$122,000).

The rapper sold the 48″ by 60″ oil painting that had been hanging in the festival’s New York office last month, and told Forbes the reason for selling the artwork was because he “just wanted that energy out.”

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