AMC Theatres Thinking To Introduce Their Own Crypto Money - Exclusive.

AMC Theatres Thinking To Introduce Their Own Crypto Money - Exclusive.

2021-10-21 | Eddy Morgan

AMC Theatres Thinking To Introduce Their Own Crypto Money - Exclusive.

American multibillion-dollar entertainment conglomerate, AMC is growing quite enthused about blockchain, and its CEO has publicly discussed the possibility of issuing its own money. AMC CEO Adam Aron outlined the company's crypto goals in an interview with CNBC on October 20. There were no concrete details, but the company's CEO made some telling remarks. He then speculated on the potential of AMC producing its own coin, saying, "There are numerous reasons why AMC may be a successful cryptocurrency issuer as well as a cryptocurrency redeemer." He went on to say that this is just one of a half-dozen initiatives the company is working on right now. When it comes to digital assets, AMC is quite forward-thinking. The company indicated in August that it planned to have the infrastructure in place by the end of the year. The theatre chain revealed the addition of Ethereum, Litecoin, and Bitcoin Cash as its new payment choices last month. Aron said at the time that moviegoers wanted to use cryptocurrency to pay for their tickets and food at AMC theatres. AMC added Dogecoin to its list of crypto payment choices in early October, following a Twitter poll launched by Aron that received 68 percent of the vote for DOGE from over 140,000 participants. On Oct. 6, the firm announced the availability of digital gift cards that may be purchased with cryptocurrency and used to purchase tickets and AMC e-cards. With ever-increasing regulatory hurdles to overcome, token issuance for publicly traded corporations in the United States may be a difficult task. As scrutiny of Facebook's cryptocurrency issuance plans grows, the social media behemoth is learning the hard way. AMC became a meme stock favored by retail traders on Reddit's infamous Wall StreetBets forum earlier this year, resulting in a rise in share prices among momentum investors. AMC shares were trading at $40.88 USD at the time of writing, up slightly from the previous week since the beginning of October.

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