The play reimagines the Montagues as werewolves and the Capulets as vampires.
Ibarra previously worked as a scientist at a biotechnology firm before pursuing her music career full-time.
Pratt, who is 57, has been playing the piano for 51 years.
The event included singing, spoken poetry, stand up comedy and more.
The award is in honor of Jim Henson, a University of Maryland alum who created the Muppets.
Daniel del Pino is also an artist-in-residence and associate professor or piano at Texas Tech University.
Smith is a chair of the woodwind department at the Berklee College of Music and has performed all over the world.
The two acts teamed up to perform their co-composed piece "Rubix".
The performance was part one in a two-part series that continued on Wednesday.