The scandalous Fyre Fest now has new owners... and it's for a meme?

Remember Fyre Fest, the disgraced music festival which marketed itself as a luxury experience where you could party with supermodels? It made headlines when attendees were left stranded on a remote island and the entire operation collapsed due to mismanagement and fraud.

Infamous Fyre Fest founder Billy McFarland who was sent to prison sold off the intellectual property, trademarks and assets for $245,300 to Limewire on eBay. The assets for sale also include an unspecified "Caribbean Festival Location" that McFarland says is ready to host Fyre Festival 2.

Infamous Fyre Fest founder Billy McFarland sells off the scammy luxury music event to LimeWire on eBay

"Fyre became a symbol of hype gone wrong, but it also made history," Julian Zehetmayr, CEO of LimeWire, said in a release. "We're not bringing the festival back — we're bringing the brand and the meme back to life. This time with real experiences, and without the cheese sandwiches."

The Fyre Festival cheese sandwich became one of the most famous representative visuals for the festival after an attendee posted a picture of two slices of bread with a slice of cheese which they were served at the festival. This was a sharp contrast to the gourmet food experience which the festival had charged for.

"We're not here to repeat the mistakes — we're here to own the meme and do it right. Fyre became a symbol of everything that can go wrong. Now it's our chance to show what happens when you pair cultural relevance with real execution," said Marcus Feistl, COO of LimeWire.

Fyre's freshly updated website now reads: "Fyre Festival Is Now Part of LimeWire What Could Possibly Go Wrong?...This time, we're serving culture — not cheese sandwiches."

Though Fyre Festival was promoted as the ultimate luxury experience, the documentaries eventually revealed that severla aspects broke down days before the festival was about to start. Attendees arrived to find disaster-relief tents instead of villas, cheese sandwiches instead of fine dining, and most performers had cancelled.

Billy and his team kept selling VIP packages even when they knew the event wasn’t ready. Billy was also convicted of wire fraud, sentenced to federal prison and ordered to pay millions in restitution.

The chunk of money Billy now walks away with is nothing in comparison to the ticket prices of some Fyre Festival packages. In fact, he expected to sell it for at least $1 million by going viral and hoped to set some of the money toward paying off his legal bill. However, things did not go as planned after all.

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