NEW YORK, Nov. 30, 2021 /PRNewswire/ — Third Act, the first-of-its-kind NFT (Non-fungible token) marketplace for the theatre community, has launched a new collection of NFTs in collaboration with two-time Tony Award winner and Grammy Award nominee Brian Stokes Mitchell and his live streaming talk show “Crossovers Live!“. Built by Tony Award-nominated producers, Eric Neal and Jesse Hornstein, Third Act introduced an NFT marketplace specifically for theatre and was a first for the theatre industry. The company's initial collection, released in June of 2021, featured digital collectibles from the Stellar Original production, Herding Cats.
The Third Act platform boasts an incredibly simple and easy-to-use crypto experience. The marketplace lists all of its available assets in USD and users can purchase NFTs directly with a credit card, meaning transactions can be made easily on one of the most eco-friendly platforms available today: Hedera Hashgraph. Using Hedera, Third Act's carbon emissions are a fraction of Bitcoin, Ethereum, and even Visa transactions. And a portion of each and every sale goes directly back to productions, personalities, and IP owners.
Third Act's engineering and resources come directly from their partnership with the HBAR Foundation to support the development and growth of the Third Act platform. Third Act is in the first cohort of companies receiving support from the HBAR Foundation, a grant-giving entity that was recently launched and plans to distribute upwards of $2.5 billion to projects building in the Hedera ecosystem.
Hedera and Third Act are some of the first companies that are taking advantage of USDC, a stablecoin pegged to a fiat currency (USD). With the recent introduction of USDC to the Hedera network, companies like Third Act will receive a boost from the integration of the stablecoin. Third Act currently accepts fiat currency via Stripe, with USDC integration in the near future.
“Third Act is the first platform of its kind specializing in theatre NFTs. The HBAR Foundation is proud to fund innovative projects that enable the entertainment industry and fans to engage with brands through Hedera,” said Shayne Higdon, Executive Director & CEO at the HBAR Foundation. “Additionally, Third Act is a very accessible application, presenting new technology in a way that is approachable to the everyday user and encouraging mass adoption of the Hedera network.”
With the release of this new collection in collaboration with Brian Stokes Mitchell, Third Act has marked yet another first for the industry. Mitchell, Chairman of The Actors Fund since 2014, has enjoyed a long and fruitful career both on stage and screen, and now NFTs. With this release, Mitchell becomes the first Broadway actor to digitize his likeness in the form of an NFT. This collaboration was commissioned by production company Atomic Focus Entertainment, which partnered with Third Act's in-house NFT studio to produce the collection.
The digital collectibles will be released in conjunction with Mitchell's interviews on “Crossovers Live!” with Broadway icons like Kristin Chenoweth, Bernadette Peters, Marc Shaiman, and more. “Crossovers Live!” is an intimate talk show streamed live and produced by Stellar Originals and Atomic Focus featuring actors who, like Mitchell, have made the jump from stage to screen. In addition to the Mitchell NFTs, a unique NFT collection for “Crossovers Live!” was produced by Third Act and is being used as digital keepsakes and to incentivize ticket buyers.
“Every producer should be looking at how they're integrating NFTs with their next show. They're a great way for fans to hold onto their favorite theatre moments, provide recurring revenue, and become a new vehicle for the story to continue.” says Eric Neal, co-founder of Third Act. “We made it super simple for producers to create and release NFTs.”
Third Act is among a growing number of organizations that has selected Hedera Hashgraph for its NFT offerings as Hedera has the industry's most decentralized and transparent governance model, led by the Hedera Governing Council, ensuring reliability of the network. Furthermore, Hedera boasts low and predictable transaction fees, real-time settlement, and sustainable energy consumption due to its eco-friendly proof-of-stake consensus.
About Third Act
Third Act is a first-of-its-kind marketplace for theatre NFTs. Third Act hosts the next generation of fan merchandise. As both a marketplace and a service, Third Act is an end-to-end solution for productions looking to engage fans and extend the recoupment window for live theatre productions. For more information, visit ThirdAct.digital
About the HBAR Foundation
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESGs, gaming and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For additional information, please visit https://hbarfoundation.org/ or follow the Foundation on twitter @HBAR_foundation.