AMC chief Adam Aron said today that the theater chain is exploring how it can accept Shiba Inu in addition to other cryptocurrencies such as Bitcoin and Dogecoin. Furthermore, AMC is evidently exploring its own cryptocurrency, which would really cement the company as king of memestocks.
That AMC appears to be flirting with the idea of โโaccepting (another) meme coin in exchange for actual goods and services isn't entirely surprising. AMC was effectively rescued midway through the pandemic by memes stock reddit tradersand Aron has relied heavily on the company's relationship with these shareholders ever since. Hearing about AMC's crypto ambitions is not only to be expected during the company's meetings with shareholders, but it is practically assured.
Aron shared a Twitter poll last month he asked his followers if the company should expand the accepted cryptocurrencies that can be used to buy AMC gift cards through BitPay. Aron wrote at the time that the "company's IT group is writing code so that we can soon accept online payments in Bitcoin, Ethereum, Litecoin, and Dogecoin, among others," and asked if the list of accepted currencies should be extended to Shiba. Inu, itself. a meme currency response to Dogecoin. The response from the respondents was overwhelming and, unsurprisingly, given the shareholder base, Yes.
The company previously announced that it will accept Bitcoin for things like concessions. before the end of the year, and Aron said during the company's shareholders meeting this week that AMC is on track to meet that goal. Aron further said that AMC is now examining how the way it accepts cryptocurrencies may evolve, including the potential launch of its own and partnering with theaters to offer NFT for blockbuster movie premieres.
"I can confirm today that we have been exploring with third parties for the past few months how we can accept cryptocurrency and if it is feasible for AMC to even consider launching our own cryptocurrency," Aron said. "Similarly, today I can confirm to you that we are now in discussion with several major Hollywood studios about the concept of commemorative NFT joint ventures related to major movie titles shown in our cinemas."
Some of these talks are "preliminary in nature," Aron said, adding that regulatory factors could affect their strategies. When asked about the company's plans to bring Shiba Inu into its cryptocurrency fold, the AMC boss did not miss a beat by admitting that he is following shareholder prompts.
"There has been a wave of incoming messages to our company, and to me personally, that we should be much more active in the crypto sphere and that there was a real opportunity for AMC," Aron said. When the company made its initial announcement Regarding its plans to accept Bitcoin for payments before the end of the year, shareholders of meme stonk evidently flooded Aron's DMs to express interest in the company accepting other cryptocurrencies such as Dogecoin and Shiba Inu as well.
The company is currently on track to accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash before the end of the year. Aron said the company believes it will be able to accept Dogecoin by the first quarter of next year. Shiba Inu, meanwhile, is "next in our cryptocurrency hit parade."
