AMC goes all-in on the blockchain. Earlier this month, the cinema chain announced it would start receiving payments in cryptocurrency, and now gives NFTs as free pre-order tickets for the new Spider-Man movie.
He Sunday, AMC has announced a joint effort with Sony Pictures to distribute up to 86,000 NFT members to Stubs Premiere, A-List and AMC Investor Connect who book or buy a ticket in advance for screenings on the first day of “Spider-Man: No Way Home.” NFTs are digital collectibles that quickly became the obsession of the Silicon Valley brothers and mega-brands, and some are sold for millions of dollars.
To qualify, you will need to purchase or reserve your ticket through the AMC website or mobile app after they go on sale on November 29, and the promotion is limited to screenings on December 16 at AMC cinemas in the US Over 100 Spider -Human-themed NFT designs will be available as codes that can be exploited through the Wax platform, an energy-efficient, decentralized blockchain wallet. Recipients will receive the code via email on December 22 and have until March 1, 2022 to use their NFT.
The AMC called the joint promotion “the first of its kind for a major theater exhibitor” in a press release on Sunday. The company began to rely heavily on cryptocurrencies after it and several other obsessed retailers such as GameStop and Nokia were accepted as meme stocks by investors on Reddit’s r / wallstreetbets forum earlier this year. By rising AMC stock prices, retail investors helped keep the company afloat after that pandemic effects nearly brought it to bankruptcy in 2020. These shareholders now own more than 80% of the company, announced the CEO of AMC and openly crypto fanboy Adam Aaron earlier this year.
“So many good ideas came from our shareholders in 2021. Always food for thought. We quickly implemented AMC by taking cryptocurrencies, and now one of your best ideas, ”Aron said tweeted on Sunday in connection with the Spider-Man NFT promotion.
This will probably not be the last time AMC consolidates NFTs as a pre-order add-on. In a post-earnings call earlier this month, Aron said the company is in talks with several Hollywood studios to launch NFT, Reuters reports. It is one of several measures proposed by AMC to take advantage of sales growth seen in recent months as movie viewers return en masse to live screenings. The company is also reportedly considering launching its own cryptocurrency. Anything to put your asses in place and get ticket sales back to pre-pandemic levels.
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