FAQ

The Official Blockchain of Broadway

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What is Third Act?
‍Third Act is a marketplace made for theatre, by theatre. It is a marketplace for a new type of digital collectible: NFTs.

What is a NFT?
A NFT or “Non-Fungible Token” is an asset that cannot be exchanged for another asset of equal value. On Third Act they take the form of digital collectibles recorded on the Blockchain.

What is the Blockchain?
‍The Blockchain is a public record of transactions in decentralized storage to provide security and transparency.

What do you mean by decentralized?
‍In Fight Club (spoiler alert) Tyler Durden was able to reset people’s credit history by destroying the records because they were stored in a centralized location. On Third Act, the records are decentralized on the IPFS which means the records are stored in multiple places. So when you buy on Third Act, the transaction is permanently recorded. Sorry Tyler.

Why do I need a cryptowallet to buy something?
‍Because of the secure recording process, something more secure than an email/username is required to verify transactions. Your wallet is not only where your NFTs are stored,  but also your identity on Third Act.

More questions? Write us at hello@thirdact.digital