With the popularity of online streaming services and the social restrictions of COVID in place, many film and cinema services are facing massive losses. AMC Entertainment is not oblivious to the challenges either. However, Adam Aron, CEO of AMC Holdings, announced last year that the theatre franchises would start accepting meme currencies as payment.
The move was to cash on the increasing popularity of Dogecoin among the masses. However, the company has recently decided to deliver on its promise way ahead of schedule. Recently, Aaron tweeted that on account of the overwhelming response and enthusiasm from the social media community, the company has decided to start accepting Dogecoin and Shiba Inu tokens as payment effective immediately.
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According to the latest tweet of AMC Entertainment CEO, the company website has already enabled payments options with Dogecoin and Shiba Inu tokens. He also tagged the official Twitter account of Bitpay in his announcement tweet. He claimed that Bitpay has made the transition possible. However, at this point, the meme coin payments are not permanent on the platform.
Aaron made it clear that the crypto token payments will be available for users until April 16th. He also declared that the application users would also be able to avail the same extension for the same period. The CEO first decided to leap by conducting a poll on Twitter. He asked the participants about accepting meme coins as payments in the poll.
AMC Theatres will also Accept Other Cryptocurrencies such as Bitcoin
AMC Theatres seem to treat the meme coin payment as a pilot stage for cryptocurrency-based payments for the business. The company has stated that it plans to accept other digital assets like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The company also declared that the new digital currency payments would commence before the end of the current year.
It is worth mentioning that with 970 theatres and more than 10K cinema screens around the USA, AMC Entertainment is the global leader. Following the announcement, the stock prices of AMC have improved by 15.32% in the last 24 hours.