09/11/2012 01:58 pm ET Updated Sep 11, 2012

UR1 Festival Lineup: Kanye West, Lou Reed Will Perform During Art Basel Miami Beach

If the prospect of Art Basel Miami Beach and all the great things that come with it -- good weather, better art, thousands of tourists with deep pockets, etc. -- isn't enough to get you excited about the city's premier cultural and social event, then maybe a festival with some of music's biggest stars will.

The UR1 Festival at Bayfront Park during Basel week promises to rival Winter Music Conference in sheer star power offered, if anything else. Thought Madonna at Ultra was awesome? Well then, get excited because with Kanye West headlining this music-art fusion, the ante has been upped.

Kanye will be joined during the multi-stage, 2-day event by major acts including M.I.A., Lou Reed, Erick Morillo, and Santigold. Miami New Times even reports rumors that rockers Modest Mouse and Canadian indie pop singer Feist plan to sign on, bolstering an impressive setlist for this first annual event.

Here's the officially confirmed and winkingly-confirmed roster to date:

Kanye West
Bloc Party
Miike Snow
The Offspring
Lou Reed
Erick Morillo
Sven Vath
Pete Tong
Bob Sinclar

"It is time the bar was raised. We are not putting up a stage for fans to stare at, UR1 will be a 4D experience," festival co-creator Alex Omes -- who should know, having co-created Ultra Music Fest -- told Billboard magazine.

Dubbed "your music and art festival", UR1 will also have eye-popping exhibitions featuring the work of local visual artists from Typoe and Aholsniffsglue to Augustina Woodgate, Nabil Elderkin and Phil Andelman.

UR1 organizers haven't announced ticket prices yet, but pay attention: buzz for this festival is already on the rise, tickets go on sale Thursday at 11 a.m., and Miami is always ready to party.