The Chainsmokers Will Perform Concert 20 Miles Above Earth in Upcoming Space 'Adventure'

The Chainsmokers are ready to take their career to new heights — literally.

The dance-pop duo, composed of Drew Taggart and Alex Pall, are set to perform 20 miles above Earth in a pressurized capsule tethered to a stratospheric balloon in a first-of-its-kind concert, according to a press release obtained by PEOPLE.

The journey, slated for 2024, will be organized by the private near space exploration tech company World View, and will make the "Closer" artists the first musicians to perform at the edge of space.

"We have always dreamed of going to space and are stoked to collaborate with World View to have this adventure and experience," the Chainsmokers said in a statement. "We know the views of both Earth and space are going to be incredible and inspiring and we hope to leverage this flight for creativity on future projects."

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The Chainsmokers will depart on one of World View's inaugural flights, World View CEO Ryan Hartman told the Associated Press, adding that the goal in including the duo is to inspire innovation.

"We think about inspiring new perspectives and how those new perspectives can lead to a radically improved future for our Earth," he said. "To be able to reach the audience of The Chainsmokers through Alex and Drew's work contributes to our mission as well. It's something that I'm personally inspired by and excited about."

As for why he chose The Chainsmokers for the job, Hartman said his son is a fan.

"I have just seen firsthand and personally how their music reaches a lot of different groups, a lot of different age groups and just how passionate they are about their music and their art. It matches our passion for what we do," he said.

World View flights are set to blast off from the Seven Wonders of the World, giving passengers the chance to view wonders like the Grand Canyon and the Pyramids of Giza from up above, according to the release.

Flights cost $50,000 and include eight explorers and two crew members who are lifted in a zero-pressure stratospheric balloon and pressurized space capsule to 100,000 feet altitude, about 23 miles into the stratosphere.

The dance-pop duo, who broke through in 2014 with "#Selfie," released their fourth album, So Far So Good, in May.

"It's really, really exciting," Taggart told PEOPLE in February. "'High' is the first single off our fourth album, which is the most fun we've ever had making music. I know, traditionally, we've put out songs single by single, but we're doing an actual proper album rollout this time, which is really fun and exciting and [something] we've never done before. There's so many things surrounding it that we just can't wait to get into."