Will NFTs be a Thing on Broadway?
We have the first NFT musical.
Last week, The Wrong Man, a show on its way to Broadway, announced that it was for sale via NFT. You can read about it here.
It was bound to happen. In fact, when NFTs first hit the scene, I got about a gazillion emails asking me when my first NFT was going to be released.
My answer was simple.
I will have an NFT.
But not for a while.
To answer the question in the subject line of this blog? Yes, NFTs WILL be a thing on Broadway. No question.
Just not now.
In case you don’t know what an NFT is, don’t be embarrassed. Most people don’t. And most Broadway audience members REALLY don’t.
Which is why NFT adoption on Broadway isn’t going to happen overnight.
(It stands for non-fungible token – and you can read what that is here.
Remember, the average age of a Broadway ticket buyer is 45 years old. They don’t have NFT wallets. Most don’t have the crypto to buy them. Or even know where to get the dang things.
Because our audience is older, it takes about 5 years for the latest tech to trickle down. That’s why the #1 social media platform for the theater audience is NOT TikTok . . . but Facebook. (I know, many of you are saying, “Facebook? Oh that is so 2015.” Well, not for our audience it isn’t!
So why is Wrong Man making a musical NFT?
Remember – Wrong Man is written by a songwriter named Russ Golan. His audience is much younger. And, well, let’s admit it. Much cooler.
They get tech before we do.
Which is why they will get NFTs before we do.
And why I expect The Wrong Man will move some NFTs for sure.
Broadway will get there. Just give it some time, and don’t think you NEED to have an NFT for your show yesterday in order to keep up.. (And if you’re interested in the NFT space and theater, then you should follow Randi Zuckerberg on Instagram, because I believe she’s going to lead the movement for NFTs and tech on Broadway.)
To market your show successfully, keep up with what OUR audience wants, not what other audiences want.
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If you’re looking for more reliable ways to market your show or yourself, rather than the latest tech toy, click here to see if you are eligible for a mastermind we have to discuss this very subject every week.
P.S. If you’re ready to speed things up but know you need some help, get on a call with my team. They’ll give you an honest assessment of where you are and if you’re ready to go to the next stage. Click here.
Ken created one of the first Broadway podcasts, recording over 250 episodes over 7 years. It features interviews with A-listers in the theater about how they “made it”, including 2 Pulitzer Prize Winners, 7 Academy Award Winners and 76 Tony Award winners. Notable guests include Pasek & Paul, Kenny Leon, Lynn Ahrens and more.