AMC boss Adam Aron said today that the theater chain is exploring how it can accept Shiba Inu in addition to other cryptocurrencies like Bitcoin and Dogecoin. In addition, AMC is evidently exploring its own cryptocurrency, which would truly cement the company as king of the memestocks.
That AMC appears to be flirting with the idea of accepting (another) meme currency in exchange for actual goods and services isn’t entirely surprising. AMC was effectively rescued midway through the pandemic by meme stock Reddit traders, and Aron has been leaning heavily into the company’s relationship with these shareholders ever since. Hearing about AMC’s crypto ambitions has not only come to be expected during the company’s meetings with shareholders, it’s practically ensured.
Aron shared a Twitter poll last month asking his followers whether the company should expand the accepted cryptocurrencies that can be used to purchase AMC gift cards through BitPay. Aron wrote at the time that the company’s “IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others,” and asked whether the list of accepted currencies should be extended to Shiba Inu, itself a meme coin response to Dogecoin. The response from respondents was overwhelmingly, and unsurprisingly given the company’s shareholder base, yes.
The company previously announced it will accept Bitcoin for things like concessions before year’s end, and Aron said during the company’s shareholders meeting this week that AMC is on track to hit that goal. Aron further said that AMC is now examining how it can evolve the way that it accepts crypto, including potentially launching its own and partnering with theaters on offering NFTs for blockbuster film premieres.
“I can confirm today that we have been exploring with third parties over the past few months both how we can accept cryptocurrency and if it is feasible for AMC to consider even launching our own cryptocurrency,” Aron said. “Similarly, I can confirm to you today that we are now in conversation with multiple major Hollywood studios about the concept of joint venturing commemorative NFTs related to major film titles that show in our theaters.”
Some of these talks are “preliminary in nature,” Aron said, adding that regulatory factors could impact its strategies. When asked about the company’s plans to bring Shiba Inu into its cryptocurrency fold, the AMC boss didn’t miss a beat in admitting he’s taking cues from shareholders.
“There’s just been a tidal wave of inbound messaging to our company, and to me personally, that we ought to get much more active in the sphere of cryptocurrency and that there was real opportunity for AMC,” Aron said. When the company made its initial announcement about its plans to accept Bitcoin for payments before the end of the year, meme stonk shareholders evidently flooded Aron’s DMs to express interest in the company accepting other cryptocurrencies like Dogecoin and Shiba Inu as well.
Currently, the company is on track to accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash before the end of the year. Aron said that the company believes it’ll be able to accept Dogecoin by the first quarter of next year. Shiba Inu, meanwhile, is “the next one on our cryptocurrency hit parade.”
