From handheld magazines to digital one-of-a-kinds, Playbill will remain a must-have for theatre-loving collectors with the release of NFTs through Bway.io. The new platform, launching later this year from Seaview Productions (Ratatouille: The TikTok Musical, Slave Play) and Marathon Digital, will serve as the Broadway partner for Nifty’s, where the virtual wares will be published.
NFTs, or Non-Fungible Tokens, are digital files, including audio, videos, GIFs, photos, tweets, and digital designs, all sold and resold through the blockchain. Since artists create NFTs themselves, the venture forms another stream of revenue for workers in the industry as it continues to reel from the shutdown that lasted over a year. Bway.io will facilitate the minting, curating, and selling of the NFTs through the token-powered, Ethereum-connected blockchain Palm, which is 99.9% more energy efficient than proof of work systems thanks to a focus on low gas costs and fast transaction finality.
"We believe that this technology could be as impactful in the future as the internet has been over the past several decades," says Seaview CEO Greg Nobile. Marathon CEO Mike Karns adds that the partnership aims to "further accelerate our commitment to decreasing the distance between Broadway brands and their fans, all while supporting artists and creators."
"For over 137 years, Playbills have been, and continue to be, collected as treasured keepsakes by many millions of passionate theatergoers from all over the world," says Chief Operating Officer and Vice President of Playbill, Inc. Alex Birsh. "We are extremely excited to venture into the digital collectible space to discover the extraordinary opportunities we foresee in this arena. We look forward to creating truly memorable and unique digital keepsakes that fans will be eager to add to their collections."
Broadway entrepreneur Brisa Carleton and Liberty Media Senior Advisor Mark Carleton serve on the board. In addition to Playbill, Sony Masterworks Broadway will be a brand partner at Bway.io with additional details on upcoming Bway.io drops to be announced soon.
Visit Bway.io for more information.