Learn more about NFTs.
NFTs (non-fungible tokens) are digital assets (images, movies, gifs, audio files, etc.) that can be collected, bought, sold and traded. What makes them different from every other digital file on the internet is that they are connected to a smart contract on the blockchain that makes each individual copy of the NFT unique. Think of it like a limited edition print. You can own #5 of 250 in a series. Someone else could take a picture of it or buy the cheap poster of it, but you own the limited edition print, signed by the artist. More than a fad for crypto-enthusiasts, NFTs provide a new form of digital ownership and a new way to experience the things you love. The Broadway Exchange Marketplace will enable a new economic model for live theatre that is both rewarding and equitable for everyone.
Smart contracts do three things that make NFTs exciting:
- Smart contracts establish NFT ownership: When you buy an NFT, your ownership of that asset is written to the blockchain and can’t be changed unless you sell it.
- Smart contracts manage financial transactions automatically, including distributing proceeds to different rights holders. When you buy and sell NFTs, the money goes directly to the right people, without needing a centralized organization to manage it. For a theatre production, the proceeds from NFTs can be shared between producers, actors, writers, directors, theatres and crew automatically, ensuring everyone in the creative ecosystem shares in the benefits
- Smart contracts can guide what happens to the NFT after it’s purchased. The smart contract can unlock extra features for the purchaser such as access to exclusive live events or additional digital benefits from collecting a full NFT set. Smart contracts also allow creators to continue receiving royalties each time an NFT is bought or sold in the secondary
The Broadway Exchange’s NFTs are designed to bring the full theatre experience to life. Imagine being able to own the most iconic scene from your favorite show; collect and trade merch, posters and digital cards of actors; and get access to behind-the-scenes moments and digital copies of early scripts and rehearsals. Even more than owning collectibles, we want our NFTs to be able to unlock new opportunities for fans to engage with the shows they love—with more access, new ways to interact and new augmented reality experiences. Not only can you buy and collect our NFTs, you will also be able to sell them, potentially making money from your passion. We want to open up the beauty and excitement of live theatre and connect fans to the productions, theatres and creators for an ultimate fan experience.
NFTs transactions happen in cryptocurrency, but we want to make them accessible to everyone. Upon registration, The Broadway Exchange creates a crypto wallet in your account to enable you to purchase and sell any NFT on our market with a credit card or cryptocurrency. All prices will be listed in USD to make it easy to understand and trade.
Yes, you’ll need to create an account to purchase our NFTs.
You can buy and sell our NFTs in The Broadway Exchange Marketplace (BWAYX) if you’re located in any of the 50 states in the U.S.
Yes, we accept payment in USD, Ethereum or Polygon.
Certain NFT drops will contain a unique “utility” – additional content, access to VIP tickets or meet and greets with actors and creators. To unlock this content and experiences all you have to do is own a BWAYX NFT and follow our Discord to learn how to enter or claim your reward.
You can easily list and sell your NFTs in The Broadway Exchange Marketplace. To list your NFT, simply visit your “Portfolio” (on The Broadway Exchange Marketplace) and tap on the NFT you want to sell, and then tap on “Sell”. You’ll be able to select an asking price for your NFT and then list it. Once your NFT sells, you’ll receive a confirmation email.
If you listed an NFT for sale and someone bought it, your BWAYX wallet will be credited the amount of the sale and the NFT is transferred automatically to the new buyer.