getting more use out of my tuxedo

I own my own tuxedo but I don’t find much opportunity to wear it. It isn’t often that I am invited to a black tie event. I have already worn it enough to justify buying one as apposed to renting but as expensive as a tuxedo is, I want to get more use out of it. Can the suit be broken into separate trousers and jacket for occasions other than black tie or even worn in more creative ways as a full suit. ( I’ve already used my tux in a Halloween costume as phantom of the opera. ) Are there times when a tuxedo would be appropriate attire other than black tie events?

Smoking Jacket vs Tuxedo

Is a black or midnight blue velvet smoking jacket in the same playing field of formality a traditional dinner suit/tuxedo? If so, are there design aspects that make it more or less appropriate e.g lapel shapes, single or double breasted etc…

I ask because I’ve been invited to a black tie event which is not a common occurrence for me and think that a single breasted velvet jacket might serve me better in the long run because I could potentially work it into outfits for less formal occasions, rather than letting a tuxedo go to waist in my wardrobe.