AMC becomes ‘hyperactive’ on crypto, CEO says he could issue his own coin

0

American multinational entertainment giant AMC is very excited about blockchain, and the company’s CEO is publicly considering issuing his own cryptocurrency.

In an interview with CNBC on October 20, AMC chief executive Adam Aron discussed the company’s crypto ambitions. There weren’t any solid details, but the boss of the company made some revealing comments.

“We’ve been making a lot of noise over the past few months about getting hyperactive in cryptocurrency.”

He then considered the possibility of AMC issuing its own coin, saying, “There are a lot of reasons why AMC could be a successful cryptocurrency issuer as well as a cryptocurrency redeemer.” He added that this was just one of half a dozen ideas the company is currently working on.

AMC is very forward looking when it comes to digital assets. In August, the company said it intended to put the infrastructure in place to accept Bitcoin payments for movie tickets by the end of this year.

The following month, the theater giant extended these crypto payment options to include Ethereum, Litecoin, and Bitcoin Cash. At the time, Aron said that moviegoers wanted to use crypto as a payment method for their tickets and concessions at AMC theaters.

In early October, AMC added Dogecoin to the list of crypto payment options following a Twitter poll created by Aron that resulted in 68% of votes for DOGE among more than 140,000 participants.

On October 6, the company announced digital gift cards that can be purchased with crypto and redeemed for tickets and AMC e-card purchases.

Related: AMC Theaters Launches Crypto Payments For Electronic Gift Card Purchases

Issuing tokens for companies listed in the United States may not be an easy task with increasing regulatory hurdles to overcome. Social media giant Facebook is finding out the hard way as the scrutiny of its cryptocurrency issuance plans continues to intensify.

AMC rose to fame among dynamic investors earlier this year when stock prices surged after becoming a preferred stock by retail traders on Reddit’s infamous WallStreetBets forum. As of this writing, AMC shares were trading at $ 40.86, down slightly on the week, but up 6.2% since early October.



Source link

Share.

About Author

Leave A Reply