AMC Embraces Cryptocurrency
During its Q4 2021 earnings call, AMC Entertainment’s CEO Adam Aron announced a significant step into the cryptocurrency world. Starting in just a couple of weeks, moviegoers will be able to buy their tickets using Dogecoin (DOGE) and Shiba Inu (SHIB). Imagine settling in with your popcorn, knowing you bought your ticket with a meme coin! Only at AMC, right?
Expanding Payment Options
But that’s not all! AMC has comfortably parked itself in the innovative lane by also accepting payment methods like Apple Pay, Google Pay, and PayPal. In merely a few months, these payment forms—alongside crypto—comprise over 15% of AMC’s online ticket sales. Talk about a digital renaissance for this iconic theatre chain!
Future Coin and Blockchain Options
Aron didn’t stop at just accepting popular cryptocurrencies; he expressed enthusiasm about potentially launching AMC’s own coin. This idea has been simmering, especially as the company keeps a keen eye on evolving cryptocurrency regulations. You can only imagine the popcorn-flavored coin possibilities!
AMC and NFTs: Marrying Film and Digital Art
It’s not just crypto that’s catching AMC’s eye; the company is also venturing into the trendy world of non-fungible tokens (NFTs). Since late November, AMC has rolled out four successful NFT campaigns, distributing over 800,000 NFTs linked to major films like Spider-Man, Dune, and The Batman.
NFT Bonanza for Fans and Shareholders
But wait, there’s more! Some NFTs were given as perks to shareholders through AMC’s investor connect initiative, proving that loyalty can indeed pay off—sometimes in digital art worth thousands! In fact, Aron revealed that one of the Spider-Man NFTs has sold for a whopping $17,000. For context, that’s enough to buy a small car or about 1,700 large popcorns at the theatre!
Looking to the Future
As AMC continues to explore the digital frontier, there are plans for more NFT projects this year. The company aims to collaborate with studios and enhance its own offerings to boost attendance at its theatres. Film and digital art coming together? This might be the golden age of cinema we didn’t know we needed.
