Fyre Fest Founder Billy McFarland Teases New Project, Festival After Prison

Billy McFarland, the man behind the infamous Fyre Festival, has a new project on the horizon ... and it might be similar to what got him in so much trouble in the first place.

Billy posted a teaser clip to TikTok Monday ... fessing up to his wrongs at the last festival -- before hinting at what's next.

He says he's got something new coming -- showing a treasure map ... as well as a brief look at a phone number. We checked it out, and once contacting the number, you're asked for contact info and given a video clue as to what's coming from Billy.

Sources with direct knowledge tell TMZ he's creating another festival, among other things in the near future.

As we reported, Billy was released from prison early back in March, spending 4 of his 6-year sentence behind bars. He was transferred to community confinement and was expected to stay in confinement through the end of August.

Of course, the infamous Fyre Festival was organized by Billy back in 2017 and was set to go down in the Bahamas -- before quickly turning into a disaster. He ended up pleading guilty to 2 counts of wire fraud over the disastrous failed event.