Motherboard indicates that the parent company is also in trouble.[1] Their "talent booking app" is a long way from release. Employee pay is intermittent. New hires not provided with computers. Employee morale low.

They claim to have a talent booking service now, and it's web-based.[2] There's no big advantage in moving it to an app. There are already at least six other talent booking apps.

[1] https://motherboard.vice.com/en_us/article/company-behind-di... [2] http://fyreapp.com/talent

And it shows not to believe your own hype no matter how much you generate. Hype doesn't deliver the MVP, logistics and execution deliver the MVP.

Although people paying that kind of money want a tad bit more than minimum.

[edit] I really don't want to make fun of other people's misfortune, but I couldn't help but think that would have made an awesome setting for a sequel to Tucker & Dale vs. Evil.

Not to mention how not to market it; if the organisers hadn't marketed packages worth tens of thousands of pounds for villas that didn't exist they might have got a bit more sympathy for ending up with a not-quite-ready MVP.