Cointelegraph Team
Cointelegraph
American multinational entertainment giant AMC is getting very excited about blockchain and the company’s chief executive is publicly mulling the issuance of its own cryptocurrency.
During an interview with CNBC on Oct. 20, AMC chief executive Adam Aron discussed the firm’s crypto ambitions. There were no solid details but the company boss did make some revealing comments.
“We’ve made a lot of noise in the last few months about getting hyperactive in cryptocurrency.”
He then canvassed the possibility of AMC issuing its own coin, stating: “There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency.” He added that this was just one of half a dozen ideas the company is working on at the moment.
AMC is very forward-looking with regards to digital assets. In August, the firm stated that it intended to have the infrastructure in place to accept Bitcoin payments for movie tickets by the end of this year.
The following month, the theater giant expanded on those crypto payment options by including Ethereum, Litecoin, and Bitcoin Cash. At the time, Aron commented that moviegoers were keen to use crypto as a payment method for their tickets and concessions at AMC theatres.
In early October, AMC added Dogecoin to the list of crypto payment options following a Twitter poll that Aron created that resulted in 68% voting for DOGE from more than 140,000 participants.
On Oct. 6, the company announced digital gift cards that can be purchased with crypto and redeemed for tickets and AMC e-card purchases.
Token issuance for listed companies in the U.S. may be no easy task with ever-increasing regulatory hurdles to overcome. Social media giant Facebook is finding this out the hard way as the scrutiny directed towards its cryptocurrency issuance plans continues to mount.
AMC shot to fame among momentum investors earlier this year when share prices surged after becoming a meme stock favored by retail traders on Reddit’s infamous WallStreetBets forum. At the time of writing AMC shares were trading at $40.86, down marginally on the week, but up 6.2% since the beginning of October.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.