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Within the app, you may now use DOGE and SHIB to purchase cinema tickets, concessions, and gift cards.
Since being named a meme stock in early 2021, AMC Theatres has progressively embraced cryptocurrencies, notably meme coins and tokens Dogecoin and Shiba Inu, which CEO Adam Aron has often tweeted about over the past few months. And you may now spend them via the AMC app.
Today, Aron tweeted that the company's mobile application now accepts payments in Dogecoin (DOGE) and Shiba Inu (SHIB), in addition to other cryptocurrencies. Users may spend equally $ DOGE and SHIB for tickets, concessions, and gift cards, thanks to a connection with the crypto payments service BitPay.
Through its cooperation with BitPay, AMC launched both cryptocurrencies on its website in March, and Aron tweeted that they will reach the mobile app by April 16 at the latest. Like his prior tweets regarding DOGE and/or SHIB, Aron’s tweet announcing mobile support has already generated hundreds of engagements.
At around $18, AMC stock is down almost 3 percent daily. The stock opened the year at roughly $26.50 per share and briefly climbed beyond $29 per share in late March, but its price has since dropped dramatically.
According to statistics from CoinMarketCap, Dogecoin is up around 3 percent in the last 24 hours, with a current price of $0.145 per coin, while Shiba Inu is down less than a percentage point at $0.0000258 per token. The cryptocurrency market as a whole has increased by around 1 percent during the last day.
Aron started in August 2021 that AMC will accept Bitcoin payments before the end of the year, marking the beginning of AMC’s acceptance of cryptocurrencies.
This list subsequently grew to include coins like Ethereum and Bitcoin Cash, and social media fan campaigns persuaded the company to include Dogecoin and Shiba Inu. In October, AMC began taking online Dogecoin payments only for gift cards.
In conjunction with Spider-Man: No Way Home and as a treat for AMC shareholders, the company has also introduced its NFT collectibles through the WAX blockchain. AMC has published The Batman NFTs via Palm, a scaling solution for Ethereum sidechains. An NFT functions similar to a deed of ownership for a digital asset, which may contain collectibles, artwork, and other items.
However, AMC’s crypto ambitions may extend beyond supporting coins and tokens and producing NFTs. In October, Aron told CNBC that the company “might be a successful issuer and redeemer of cryptocurrencies” and was evaluating its possibilities.