Amc Theaters App now allows its users among conventional methods of cash and card payments now accepts cryptocurrencies in Dogecoin and Shiba Inu. The payment has not brought any further complications for the clients, customers go through the same buying purchase as before. They can then select a form of payment in crypto through the support of a platform Bitpay that stands as an intermediary in the transaction between the user and the cinema. Some experts call it a “hype” move, with what Tesla did when they tried to sell their cars using Bitcoin, however they have done so after just 49 days, claiming that Bitcoin is energy insufficient and does not correlate with the company’s mission of transitioning the world to a sustainable energy source. AMC has already made a name for it as a company with controversial moves. In the beginning of March the movie theater company acquired a stake in gold mining company “Hycroft Mining Holding”, which also put various experts on their feet, some even claimed that AMC is misusing the shareholder capital, but hey, maybe they have their own secrets, no?
Quite a company as it seems, would you say they have a carefully planned long-term strategy or it is a game to get some public notice and a few headlines?
References:
https://www.theverge.com/2022/4/15/23027117/amc-doge-coin-shiba-inu-bitpay-movie-theater-tickets
https://www.theverge.com/2022/3/16/22981454/amc-gold-mine-investment-memestock-adam-aron
Prices of tickets and cinema food will be at an all time low whenever the market crashes now. Will only need £10 for a medium popcorn and drink now!
I find it surprising that cinema company started to accept this kind of payment. Previously I thought that this type of industry would be slow to introduce such innovation.