AMC Entertainment CEO briefs community on crypto, NFT project updates in latest earnings call

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During a Q4 2021 earnings interview late Tuesday night, Adam Aaron, CEO of popular movie chain AMC Entertainment, briefed the community on the company’s latest attempt to adopt cryptocurrency. According to Aron, AMC will begin accepting Dogecoin (DOGE) and Shiba Inu (SHIB) “within two weeks.” Last year, AMC began accepting online payments for movie tickets using major cryptocurrencies. The company said it is also still exploring alternatives to issuing its own currency, an idea that has been brewing for a long time as it tracks the current regulatory framework for crypto.

Aaron also shared his praise of the blockchain industry: “We continue to explore how AMC can participate in the growing world of crypto, and we remain very fascinated by the potential commercial opportunities.” Then Aaron added:

“AMC has also gained the ability to accept Apple Pay, Google Pay and PayPal online. Surprisingly, in just a few months, these last three payment methods, along with cryptocurrencies, already account for more than 15% of ticket activity across The Internet as shown in the fourth quarter of 2021. »
But AMC also lays the foundation for non-fungible tokens, or NFTs. The company has run four NFT campaigns since November last year, delivering more than 800,000 NFTs to consumers. These include NFTs provided through ticket sales for Spider-Man, Dune, and Batman, as well as those available to contributors through AMC Investor Connect. The company plans to launch several NFT projects this year, in collaboration with studios and on its own, noting the potential for increased visits to AMC theaters. AMC Spider-Man NFTs have been selling in secondary markets for as much as $17,000, according to Aaron.

Source: CoinTelegraph

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