AMC Shares Updates On NFTs, Accepting Dogecoin, Shiba Inu And Launching Own Cryptocurrency – AMC Entertainment Holdings (AMC)
AMC Entertainment Holdings Inc. (NYSE: AMC) CEO Adam Aron shared updates related to cryptocurrencies, citing a “big opportunity,” on the company’s fourth-quarter earnings call on Wednesday.
What Happened: Aron said the movie theater chain would enable online payments in Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in March, reiterating an update shared earlier this week.
AMC already accepts online payments for movie tickets in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
Aron added that while AMC was looking to potentially issue its own cryptocurrency, it would depend on how regulatory frameworks unfold.
Aron said that along with cryptocurrency, Apple Pay, Google Pay, and PayPal now constitute more than 15% of AMC’s online ticketing activity.
AMC — which made its NFT foray last year — has made more than 800,000 NFTs available to consumers and gets a commission on their resale.
The company plans to launch more NFT projects this year, both independently and with studios, Aron said.
See Also: How To Buy Dogecoin (DOGE)
Why It Matters: Aron had on Monday hinted at AMC accepting Dogecoin and Shiba Inu. The theater chain currently accepts Dogecoin for the sale of digital gift cards.
AMC’s latest move underscores its intentions to better connect with its newfound backers and retail investors who are highly enthusiastic about cryptocurrencies.
Price Action: AMC shares closed 1.2% higher in Wednesday’s regular trading session at $18.53, but lost almost 0.5% in extended trading.
Dogecoin is down 1.4% during the past 24 hours, trading at $0.1324 at press time, while Shiba Inu is down 2.6% to $0.00002591.
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