AMC has now officially become the first theater chain to accept Bitcoin, Ethereum, and cryptocurrency payments on its platform. This has been a long time coming after CEO Adam Aron had first announced the entertainment giant’s plans to accept crypto payments by the end of the year. The announcement had said that it would accept crypto payments online for both movie tickets and concessions.
Crypto Payments On AMC Are Official
Everything on AMC’s end looks to have worked right on schedule as the annulment three months ago had stated that the company would begin accepting crypto payments in the fourth quarter of the year. Aron took to Twitter to announce the exciting news that AMC had in fact begun receiving payments in four cryptocurrencies. These included Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB
— Adam Aron (@CEOAdam) November 12, 2021
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At first, Bitcoin was the only crypto that was to be accepted by the change but further reviews had seen the theater chain add more options due to popular demand. One of the reasons being bitcoin carried high transaction fees and would not be the most ideal option for carrying out small transactions. Not long after the bitcoin announcement, CEO Adam Aron had announced that Ethereum, Bitcoin Cash, and Litecoin would be joining the lineup.
Doge begins another recovery trend | Source: DOGEUSD on TradingView.com
Other additions came later after Aron had carried out a poll on Twitter. In the poll, he asked the community if they would like to see the popular meme coin Dogecoin accepted and the majority had voted yes. So AMC had incorporated Dogecoin payments for gift cards and plans to introduce Doge payments for movie tickets and concessions.
When Are Dogecoin And Shiba Inu Payments Coming?
In the announcement tweet, Aron had said that Dogecoin payments were coming. There was no definite timeline given for this but with four cryptocurrencies already in operation, speculations are it would not be too far in the future. However, Aron had said nothing about its latest addition to its crypto lineup; Shiba Inu.
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The CEO had carried out another poll on Twitter, but this time for Dogecoin’s rival Shiba Inu. Once again, the majority had voted in favor of adding the meme coin as a payment method and Aron had confirmed in an earnings call that it would be implementing Shiba Inu payments in the future. The SHIB community inquired about when they should expect to be able to pay with their coins, but there has been no update from AMC regarding the matter.
Google Pay, Apple Pay, and PayPal were also introduced alongside cryptocurrency payments.
Featured image from Bloomberg, chart from TradingView.com