Tag: Amc Theaters

AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu

by NEWSBTC

Shiba Inu has begun to progress to the next stage of its evolution, being the payments space. The meme coin is taking the same route as its predecessor to being a payment token for facilitating small transactions. It has now made it into AMC Theatre’s list of cryptocurrencies that will be accepted for purchases in the coming months.

This will provide what will be a utility for the meme coin going forward. Shiba Inu which was created with no utility prospects, moved only by the power of internet hype, will see a real-world application soon.

Related Reading | AMC Theaters Considers Accepting Shiba Inu As Payment Amid Growing Interest

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AMC Announces Shiba Inu Payments

AMC CEO Adam Aron had published a poll on Twitter on October 29th to poll the community on their thoughts on Shiba Inu. The poll was similar to the poll carried out for SHIB rival Dogecoin before the company had implemented Dogecoin payments for tickets and concessions. The poll garnered over 150,000 votes, with 81.4% of the voters voting in favor of accepting SHIB.

Shiba Inu price chart from TradingView.com

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SHIB price maintains low momentum | Source: SHIBUSD on TradingView.com

Fast forward to November and AMC held its quarterly earnings call on Monday. The earnings had more than 10,000 people listening, where CEO Adam Aron announced that the theatre chain would be accepting Shiba Inu as a payment method in the future.  Theatre-goers would be able to purchase tickets and concessions as they would be able to with other cryptocurrencies.

The company, however, did not reveal a time frame for when SHIB payments would be accepted on its platform, but it is expected that the meme coin will go into effect alongside cryptocurrencies scheduled to be implemented for payments in 2022.

AMC Growing Its Lineup

The addition of Shiba Inu as an expected payment method has brought the total to six cryptocurrencies set to be accepted at the theatre chain. CEO Adam Aron had previously disclosed that the entertainment giant was working to implement crypto payments for its services. Initially, bitcoin was the only cryptocurrency announced. But as time went on, other cryptocurrencies were added to the lineup.

Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

Ethereum, Bitcoin Cash, and Litecoin were further added to the list to help provide more options for users when paying with cryptocurrencies. Then in October, Aron announced that the theatre chain would begin accepting Dogecoin, bringing the total to five.

Dogecoin payments were implemented after the CEO carried out a poll that saw the overwhelming majority voted for Doge to be added to the lineup. On October 5th, Dogecoin payments were officially announced, allowing users to purchase gift cards of up to $200 a day using the cryptocurrency.

Featured image from CNBC, chart from TradingView.com

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AMC Theaters’ acceptance of Dogecoin follows viral community appeal

by Cointelegraph

Following an overwhelming positive response to a Twitter poll on Sept. 21, CEO of AMC Theater, Adam Aron announced Wednesday that the chain would officially accept Dogecoin payments for digital gift cards via BitPay Wallet. 

The Dogecoin community — notoriously passionate for adoption initiatives — tweeted in droves to advocate for the asset’s integration within the theater’s payment options. Following the successful endeavor, users can now purchase up to $200 worth of digital gift cards per day. These cards can then be redeemed by theater goers in cinemas across the United States.

Aron was pleasantly surprised by the mass attention, reporting over 6 million views and 140,000 votes on his post, including distinguished Doge fanatics Elon Musk and Mark Cuban. He also claimed that the viral tweet was his “most retweeted, most replied, most liked tweet ever.”

Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk

AMC Entertainment have already expressed intent to accept four other cryptocurrency assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) by the end of 2021. According to the latest data from October 2020, the institution has 620 theaters across the United States, and a further 358 theatres across Europe.

As cryptocurrencies emerge into the mainstream consciousness, positioned to consumers as liberating alternatives to traditional fiat currencies, a new wave of public venues are transitioning their technological infrastructure to accomodate this demand.

Cointelegraph reported in March 2021 that Thailand’s largest movie theater operator Major Cineplex Group were piloting a nation-first inaugurate crypto project. This will enable movie-goers to purchase tickets and passes with established digital assets such as Bitcoin.