The festival has partnered with Sotheby's for the auction

The official festival was cancelled earlier this year due to the COVID-19 pandemic

The show's protagonist, Molly, heads to Black Rock City but all is not as it seems

Organisers hope to return in 2022 after being forced to cancel for the second consecutive year

Attendance will be reduced from 80,000 to 69,000 people this year, if the event goes ahead

New coronavirus measures have made it too risky for the festival to go ahead

The news came just hours after Insomniac’s initial safety plan proposal was rejected by Nevada Department of Business and Industry

The original name has been retitled to The Great Unknown

The announcement comes despite ongoing uncertainty about whether the gathering will take place this year or not

"There is nothing we want more than to build Black Rock City side-by-side with you again"