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AMC gets ‘hyperactive’ about crypto

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The American multinational entertainment conglomerate AMC is getting extremely enthusiastic about blockchain, and its CEO has openly discussed the possibility of issuing its own cryptocurrency.

On October 20, AMC CEO Adam Aron spoke with CNBC about the company’s crypto ambitions. There were no concrete specifics, although the company’s CEO did make some telling remarks.

“In the previous several months, we’ve made a lot of noise about becoming involved in cryptocurrencies.”

“There are a number of reasons why AMC might be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrencies,” he said after considering the idea of AMC creating its own coin. He went on to say that this was only one of a half-dozen projects the business is currently working on.

AMC is so ambitious to accept bitcoin for payment by the year’s end

With regards to digital assets, AMC is highly forward-thinking. The company announced in August that it hoped to have the infrastructure in place by the end of the year to accept Bitcoin payments for movie tickets.

The theatre chain added Ethereum, Litecoin, and Bitcoin Cash to its cryptocurrency payment options the next month. Aron stated at the time that moviegoers wanted to use cryptocurrency to pay for their tickets and refreshments at AMC theatres.

Following a Twitter poll organised by Aron, AMC added Dogecoin to its list of crypto payment choices in early October. With 68% of 140,000 participants choosing for DOGE.

On Oct. 6, the business launched digital gift cards that are available for purchase with cryptocurrency and used to purchase tickets and AMC e-cards.

Facebook ambitions for NFTs is growing

With ever-increasing regulatory barriers to overcome, token issuance for listed businesses in the United States may be difficult. As the attention around Facebook’s cryptocurrency issuance ambitions grows, the social media behemoth is learning the hard way.

AMC became a meme stock preferred by retail traders on Reddit’s famed WallStreetBets site earlier this year. Which resulted in a spike in share prices. AMC shares were selling at $40.86 at the time of publishing. Down slightly from the previous week but up 6.2% since October 1.

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