When it comes to NFTs
there are no dumb questions.
What is Third Act?
Third Act is the first NFT marketplace for the theatre industry. It's a space where fans connect to collect theatre's most memorable moments and where creators share their work.
What is a NFT?
An NFT (non-fungible token) is a digital asset that is one-of-a-kind. Think of them like collectibles that exist online. The way that these collectibles are validated as being truly non-fungible is through a technology called blockchain.
What is the Blockchain?
Blockchain is a public record of transactions in decentralized storage to provide security and transparency. These ledgers cannot be changed, so once a transaction is logged it can't be altered. That's how the ownership and authenticity of the NFTs found on Third Act are validated.
What do you mean by decentralized?
Traditional financial institutions store things like credit history, records, and other data in centralized locations. On NFT marketplaces like Third Act, transaction records are decentralized. This means that these records cannot be altered or destroyed, since they exist in multiple places. So when you buy an NFT on Third Act, the transaction, and your ownership, exist permanently.
Why do I need a cryptowallet to buy something?
The process of recording the transaction onto the blockchain requires something more secure than an email/username to fully verify transactions. Your wallet is also where your NFTs are stored and is your identity on Third Act.
What is USDC?
USDC (US Dollar Coin) is a digital coin that is backed by fully reserved assets. USDC is what is known as a "stablecoin" which are cryptocurrencies pegged to fiat currencies (in this case USD).
Where is my NFT stored?
At the moment, your NFT will be stored in your wallet. Currently, we are connected to Venly.
Am I the only person that has this NFT?
Yes! While it's possible to screenshot or right click and save images on any NFT marketplace, what makes you the sole owner is the transaction being logged on the blockchain. Think about it like an artist's signature. Someone may be able to, for instance, create a copy of a painting that looks just as good as the original, but if you bring the copy to an art appraiser, they'll be able to tell that it's a copy, and therefore not as valuable as the original. The same thing applies to NFTs, think about the blockchain like the digital version of the qualities that make an original painting original.
How often will you release collections?
At the moment, there is no set schedule for product drops. But, to get the jump on the newest releases, you can always follow us on Instagram, Twitter, or Facebook where we post updates on new collections. You can also join our email newsletter to receive announcements on the latest lines of NFTs, as well as news about Third Act, crypto, and the theatre industry!
How can I mint an NFT?
To keep things focused on theatre, we are only minting through an application process. If you have a show coming up and are wondering how to integrate NFTs, reach out to us at email@example.com!