After announcing last month that they would accept Bitcoin in their theatres, AMC Entertainment Holdings Inc has revealed that alongside Bitcoin, their theatre chain will now also accept ether, bitcoin cash and litecoin.
Major Cinema Operator AMC Entertainment reported the opening of all of their cinemas in the United States last month, stating in the same release that they would be accepting Bitcoin in theatres by the end of the year.
The decision to broaden their accepted payments, to include ether, bitcoin cash, and litecoin, marks a milestone for crypto adoption, as well as providing AMC Entertainment with a new source of revenue.
The CEO of AMC, Adam Aron, revealed the following on Twitter:
“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly accept Ethereum, Litecoin and Bitcoin Cash.”
A number of major companies in the United States have announced their decision to accept cryptocurrencies, namely Bitcoin. However, as AMC’s decision to accept other cryptocurrencies reveals, the adoption of cryptocurrencies such as ether, litecoin, and other popular alt coins is on the increase.
Despite the regulatory crackdown that many crypto companies have experienced, the global adoption of cryptocurrency - as well as blockchain technology - seems to have no sign of abating.
The use of cryptocurrency in entertainment has taken off over the past year in line with the significant growth of nong-fingible tokens which have been favoured by media and entertainment companies. Dapper Labs recently partnered with Google to scale their network of NFT collectibles and games. Meanwhile NFTs have now attracted the attention of the film industry, with sci-fi thriller No Contact to avoid the initial theatrical release and instead be distributed using NFTs.
The release of film-based NFTs, along with integrating cryptocurrency payments into the theatres, indicates an industry that is ready to incorporate new technology into their model, and bodes well for cryptocurrency adoption on a global level.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.