AMC Entertainment Launches Its Second-Ever NFT Asset

UTC by Babafemi Adebajo · 3 min read
AMC Entertainment Launches Its Second-Ever NFT Asset
Photo: Depositphotos

As an incentive to hold the NFTs, the company will airdrop discounts on tickets and other sweet deals to those who have purchased its assets.

The world’s largest movie theater chain AMC Entertainment Holdings announced on Monday morning that it will offer a unique NFT to its investors.

The introduction of the new NFT comes after the success of its Spider-Man-themed NFTs. In November, AMC partnered with Sony Pictures to offer Spiderman NFTs to customers who purchased the tickets to “Spider-Man: No Way Home.”

86,000 NFTs sold out. Likewise, movie ticketing sites crashed because of the demand for the NFTs and the tickets. According to the company’s Chief Executive Officer, Adam Aron, AMC generated its second-best one-day sales because of the offering.

Aron pointed out that it was inevitable that AMC will try its hands at NFTs again after the initial success. He tweeted, “Given AMC’s Spider-Man NFT success, our first ever NFT, I am thrilled to announce our second-ever NFT!”

Aron extended appreciation to Worldwide Asset eXchange (WAX) that partnered with the movie company in its initial NFT effort. WAX is dubbed the King of NFTs and is the world’s number one blockchain according to data from DappRadar.

AMC Entertainment Blazing the Trail in Style with Its NFT Move

In launching the Spider-Man NFTs, AMC Entertainment became the first movie exhibition company to offer this kind of asset. Now, it has announced plans for its second-ever NFT asset. Like its first one, its second-ever NFT will launch on the WAX Chain. It will be available to new and existing members of the AMC Investor Connect.  As a result, these shareholders will receive a glimmering medallion with the inscription, ‘I Own AMC’.

As an incentive to hold the NFTs, the company will airdrop discounts on tickets and other sweet deals to those who have purchased its assets. The digital assets can be held in the WAX Cloud Wallet or any other crypto wallet. AMC will cover any cost of storage incurred by holders on the WAX Cloud wallet for the year 2022. Additionally, holders will be able to trade their digital collectibles while AMC earns some royalty.

The current members of the AMC Investor Connect estimated to be about 425, 000 will receive the AMC NFT for free. Also, others who sign up for the investor program before December 31, 2021, will also be eligible to get it for free. According to the company, emails detailing how to obtain the NFTs will be sent out in January.

Following the announcement on Monday morning, AMC shares spiked by 5% to $30.46. At the time of writing, the shares were trading at $28.79.

Blockchain News, Business News, Cryptocurrency news, News
Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

Related Articles