AMC has officially become the first cinema chain to accept Bitcoin, Ethereum and cryptocurrency payments on its platform. It has been a long time since CEO Adam Aron first announced that the entertainment giant plans to accept crypto payments by the end of the year. The announcement had stated that it would accept encrypted payments for online movie tickets and discounts.
Encrypted payment on AMC is official
Everything at AMC seems to be going as planned, because the revocation statement three months ago indicated that the company will begin accepting encrypted payments in the fourth quarter of this year. Aron announced an exciting news on Twitter that AMC has actually begun accepting payments in four cryptocurrencies. These include Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Big news! As promised, there are now many new ways to pay online at AMC. We are now proud to accept: Drums, please…Bitcoin, Ethereum, Bitcoin Cash, Litecoin. There are Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Next is Dogecoin. pic.twitter.com/a7pqYBm7HB
— Adam Allen (@CEOAdam) November 12, 2021
At first, Bitcoin was the only cryptocurrency accepted by this change, but further comments found that due to popular demand, theater chains added more options. One of the reasons is that Bitcoin charges high transaction fees and is not the best choice for small transactions. Soon after the announcement of Bitcoin, CEO Adam Allen announced that Ethereum, Bitcoin Cash and Litecoin would join the lineup.
Doge begins another recovery trend | Source: DOGEUSD on TradingView.com
After Aron conducted a poll on Twitter, other content was added later. In a poll, he asked the community if they would like to see the popular meme coin Dogecoin accepted, and most people voted yes. Therefore, AMC has used Dogecoin payment for gift cards and plans to introduce Doge payment for movie tickets and discounts.
When will Dogecoin and Shiba Inu payments come?
In the announcement tweet, Aron once stated that Dogecoin payments are coming soon. No clear timetable is given, but there are already four cryptocurrencies in operation, and people speculate that it will not be too far in the future. However, Aron did not mention the newest member of its encryption product lineup. Shiba Inu.
The CEO conducted another poll on Twitter, but this time against Dogecoin’s rival Shiba Inu.Once again, most people voted to add meme coin as a payment method, and Aron has confirmed Earnings conference call will implement Shiba Inu payments in the future. The SHIB community asked when they can pay with their coins, but AMC has no updates on this matter.
Google Pay, Apple Pay and PayPal were also launched alongside cryptocurrency payments.
Featured image from Bloomberg, chart from TradingView.com