AMC Considers Launching Their Own Coin

Multiple companies are adopting cryptocurrencies and AMC, the multinational entertainment giant, is one of them.

The CEO of AMC is hinting at launching their very own cryptocurrencies as they are already thrilled about blockchain technology

Adam Aron was invited to a CNBC interview on Wednesday where he talked about the company’s aspirations. AMC is currently working on a great number of ideas, the main ones revolving around the crypto sector. 

He did not reveal any details, however, he did share some big news. Aron admitted that they already made a fuss during last month regarding crypto, and they might even issue their very own crypto coins. They seem to be especially enthusiastic about these plans. 

The company claimed in August that by the end of the year, it will have the technology needed to take Bitcoin payments for movie tickets.

Just the next month, the theater giant added ETH, LTC, and BCH as crypto payment methods. Film fans easily accepted this alternative payment option. 

Following a Twitter poll conducted by Aron, AMC added Dogecoin to the list of crypto payment alternatives at the beginning of October, with 68% of almost 140,000 participants choosing for DOGE.

Something else that was launched in early October were digital gift cards that can be bought with crypto.

Token issuance for publicly traded American companies may be a difficult task, with the increasing number of regulatory hurdles to clear. Facebook is currently learning about this the hard way.

AMC rose to fame earlier this year as a result of investor momentum, with share prices skyrocketing after becoming a meme stock favored by retail traders on Reddit’s infamous r/Wallstreetbets forum. Right now, AMC stock is trading at $40.86, slightly less from the previous week but up 6.2% since early October.

Also Read: AMC Entertainment to Accept Payments in Ethereum and Litecoin