AMC Rolling Out New Crypto Payments
Coming through with their promise, AMC announces cryptocurrency as the new form of payment for online purchases and tickets.
In August, CEO Adam Aron promised Bitcoin, Bitcoin Cash, Ethereum, and Litecoin would be acceptable to purchase movie tickets by the end of the year. Now, that promise is fulfilled. Currently, Aron is also working on getting Dogecoin and Shiba Inu tokens as another acceptable crypto payment. The AMC chains will also accept digital payments from Apple Pay, Google Pay, and PayPal. So far, Aron has only publicly announced using cryptocurrency to purchase online tickets or services, and it is not clear if that refers to in-person purchases at the theater.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB
— Adam Aron (@CEOAdam) November 12, 2021
This change to cryptocurrency payments is nothing new in this day and age. Big companies like Whole Foods and Home Depot transitioned to accepting crypto payments for everyday purchases. There has also been a slew of celebrities releasing personal NFTs to encourage their fans to enter the crypto space and create more exposure to this modern form of payments. Cryptocurrency is especially not new for regular AMC movie-goers, as 14% of the online transactions have already been from cryptocurrency.
62.5% of my annual pay is AMC stock, not cash. I hadn’t sold even 1 AMC share in 6 years. I publicly said months ago and again Monday, now at age 67, it’s prudent to diversify assets for estate planning. I STILL HAVE WELL OVER 2 MILLION OWNED/GRANTED AMC SHARES. I believe in AMC.
— Adam Aron (@CEOAdam) November 10, 2021
AMC faced a steep decline during the pandemic, threatening bankruptcy and possible closure. However, AMC stocks began to rise again from Reddit and Twitter day traders. Aron learned from this experience and embraced the digital payment world more. He began to explore the option of creating an AMC cryptocurrency and an NFT for major films. However, there are no updates on the process.
Content Writer
