AMC CEO updates community on cryptocurrency, NFT projects on latest earnings call

During its fourth-quarter 2021 earnings call later Tuesday, Adam Aron, CEO of iconic theater chain AMC Entertainment, briefed the community on the company’s latest efforts to embrace cryptocurrency. As Adam Aron stated, AMC will begin accepting Dogecoin (DOGE) and Shiba Inucoin (SHIB) “within a few weeks.” AMC began accepting online payment for movie tickets via major cryptocurrencies last year. The company said it is also exploring options for issuing its own coin, an idea that has been in the works for quite some time as it monitors the current regulatory framework for cryptocurrencies.

Aron also praised the blockchain industry: “We will continue to explore how AMC can also participate in the burgeoning crypto world, and we remain very interested in potential business opportunities.” Aron continued:

“In addition, AMC will also support Apple Pay, Google Pay and PayPal online payments. Incredibly, in just a few months, as we saw in the fourth quarter of 2021, after Three payment methods along with cryptocurrencies already account for more than 15% of our online ticketing activity.”
But AMC has also been taking root in the non-fungible token (NFT) space. The company has completed four NFT campaigns since last November, offering more than 800,000 NFTs to consumers. These include NFTs offered as part of ticket sales for the Spider-Man, Dune, and Batman franchises, as well as NFTs offered to shareholders as part of AMC's investor link. The company plans to launch more NFT projects this year, including projects in partnership with movie studios, as well as its own projects, which it says have the potential to boost attendance at AMC theaters. According to Aron, AMC's "Spider-Man" NFTs sell for as much as $17,000 on the secondary market.