In the next weeks, AMC Theatres will accept two Memecoins
Starting next month, customers at AMC Theatres will be able to pay with memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) via crypto payments service BitPay.
AMC Chief Executive Officer Adam Aron used Twitter to promote Bitpay, AMC Theatres’ blockchain payments platform, to promote Shiba Inu, which has earned international recognition in recent weeks.
The stock of AMC Theatres rose over 5% on Tuesday, but it is still down by around a quarter year to date.
With over 1,000 theaters and 11,000 screens, AMC Theatres is the largest movie exhibition corporation in the United States, Europe, and the world, serving over 350 million people annually. In the United States, AMC runs 660 theaters with 8,200 screens, serving 265 million people.
Feelings at AMS Theatres The Rhythm of Life
Aron questioned the Twitter community to see if the theater industry should accept Dogecoin as payment for tickets.
A total of 153,100 people voted, with nearly 82 percent in favor of the site accepting meme money.
AMC’s collaboration with Bitpay will enable the company to support three more cryptocurrencies: Bitcoin Cash, Litecoin, and Ethereum, in addition to Shiba Inu.
The Crypto Twitter community has been clamoring and paying attention to the company’s next move.
Since AMC has been a pioneer in crypto acceptance and currently accepts Dogecoin as payment for gift cards through a partnership with Bitpay, full support for Dogecoin and Shiba Inu payments is not far off since it is the “people’s crypto.”
Memecoins are hot right now.
Dogecoin opened strong today at $0.1332, up 7.75 percent, with highs of $0.1340 and lows of $0.1315, with a market value of $17 billion, thanks to favorable news about Dogecoin and Shiba Inu’s new possibility.
SHIB is presently trading at $0.00002618, up 8.87 percent from yesterday’s closing price. The memecoin has a market capitalization of about $14 billion, with a low of $0.00002361 and a high of $0.00002644.
In the cryptocurrency market, the two memecoins have had a long and difficult ride. Nonetheless, AMC Theatres’ support for Bitpay payments will eventually result in Shiba Inu and Dogecoin bullish trends.
The Crypto Plans of AMC
Last November, AMC Theatres started accepting Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) as payment options.
The company also stated that Shiba Inu will be considered for employment.
“Bitpay will be ready for AMC online payments on our website by March 19, and live on our mobile apps by April 16, potentially a few days sooner,” Aron tweeted on Monday.
The new payment method appears to have gone down well with moviegoers, as it now accounts for 14% of the company’s total online transactions.
Meanwhile, Aron has fully embraced AMC’s cryptocurrency backing, assuring investors that the company plans to launch its coin in the near future.
AMC has announced ambitions to enter the field of non-fungible tokens and talks with Hollywood studios to produce NFTs related to popular films at a recent conference.
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