AMC Theatres Now Accepts Dogecoin and Shiba Inu Crypto Payments

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AMC

If the will of the people prevails, the ability to buy AMC movie tickets with Shiba Inu tokens may soon become a reality.

AMC Entertainment is in the process of updating its technical infrastructure to allow consumers to pay online with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE) for movie tickets. But it doesn't stop there. In a Twitter post early Friday morning, Adam Aron, the company's CEO, asked if users would be potentially interested in paying with Shiba Inu as well. At time of writing, 97,582 Twitter users had already taken part in the poll, with approximately 85% of voters choosing "Yes".

The iconic theatre chain has taken a growing interest in crypto as of late. Last week, its CEO discussed the possibility of issuing a company-specific cryptocurrency. Earlier this month, AMC enabled its customers to purchase digital gift cards via Dogecoin and other cryptocurrencies using the BitPay wallet. Back in September, Aron expressed interest in minting commemorative movie tickets as non-fungible tokens, or NFTs, during a CNBC interview.

On Friday, Shiba Inu overtook Dogecoin to become the world's ninth-largest cryptocurrency by market capitalization. According to Etherscan, the daily number of Shiba Inu transactions has surpassed 140,000, just shy of its all-time high of 172,411 daily transactions achieved in May.

In light of a record run-up, the Shiba Inu ecosystem has expanded to include ShibaSwap, a decentralized exchange, or DEX. Total value locked, or TVL, on ShibaSwap amounts to $537.92 million based on data from Defi Llama. There are currently 29 coins listed on ShibaSwap, with $236 million worth of coins changing hands within the last 24 hours according to CoinGecko. Aside from its foundational token, Shiba Inu, ShibaSwap features two additional tokens. Bone ShibaSwap is used to vote on governance protocols put forth by developers, while Doge Killer is used to provide trading liquidity on the DEX.

Dogecoin more popular than ever … even as TXs hit lowest level since 2017

September 23, 2021 Coin Telegraph

AMC Entertainment

AMC CEO Adam Aron has stated that the cinema giant will look to support Dogecoin movie ticket payments by the end of 2021, and real estate tokenization platform RedSwan is accepting DOGE too.

The power of the Dogecoin meme is strong despite transaction levels of DOGE hitting the lowest they've been since 2017.

Multiple firms have made DOGE adoption plays this week including Robinhood which confirmed that it will roll out a new crypto wallet feature on its app next month supporting DOGE deposits and withdrawals.The memecoin’s co-creator Billy Markus (who no longer works on the project) stated via Twitter earlier today:

“Okay we are allowed to overreact now Robinhood wallets is huge news for Dogecoin - it opens up so many users to the real utility of cryptocurrency!”

Buy $384M in real estate with DOGE

On Sept. 22 commercial real estate tokenization platform RedSwan announced that it will accept Dogecoin for two digital real estate deals on its marketplace. The firm is offering fractionalized ownership in two high-rise apartment buildings worth a combined $384 million.

“[Dogecoin] is on the cusp of transitioning from a ‘meme coin’ to legitimate institutional and transactional use cases,” said RedSwan CRE chief executive officer, Ed Nwokedi.

The two digital real estate deals dubbed APLO and LHOK are taking minimum investments of $1,000 — roughly 4,447 DOGE at the time of writing — and are offering annualized targeted investor internal rate of returns of 26% and 19% respectively.

On the same day, AMC Entertainment CEO Adam Aron conducted a poll of 140,000 people via Twitter asking the community whether DOGE should be added to the firm’s plans to support crypto payments for tickets by the end of 2021. Out of the four options provided, “Yes, for sure do it” received 68.1% of the votes.

I never thought I would see this day. @ElonMusk liked my Dogecoin Twitter Poll tweet. If you happen to see this tweet too Mr. Musk, congratulations on Tesla and SpaceX. I have strived to be an innovator my entire career, but you sir are the epitome of innovation above all others. pic.twitter.com/rIW6OpOnYL
— Adam Aron (@CEOAdam) September 22, 2021

Following on from the overwhelming support for DOGE in the poll, Aron then stated that “It’s clear that you think AMC should accept Dogecoin. Now we need to figure out how to do that. Stay tuned!”

Former DOGE "CEO" Elon Musk chimed in to call for the DOGE fee structure to be lowered to support widespread adoption.

Super important for Doge fees to drop to make things like buying movie tix viable
— Elon Musk (@elonmusk) September 22, 2021

Low transaction levels

Despite the hype kicking into overdrive this week, DOGE transaction levels have dropped to lows that have not been seen since December 2017.

According to data from Bit Info Charts, the number of daily DOGE transactions have plunged to the 16,000 mark for the first time in four years. The figure provides a stark contrast to the DOGE-mania that swept the crypto market in April of this year resulting in peak 24-hour transaction levels of 140,000.

The lack of on-chain activity is reflected in the DOGE’s price and marketcap, with the price declining 69% since its all-time high of $0.73 in mid-May to sit at $0.22 at the time of writing.

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Cinema operator AMC plans to accept BTC by 2022

August 10, 2021 Coin Telegraph

AMC Bitcoin payments

AMC chairman and CEO, Adam Aron, revealed the American cinema giant is looking to accept Bitcoin payments for movie tickets in response to customer demand.

American cinema operator AMC Entertainment is aiming to accept Bitcoin payments for movie tickets by 2022.

Speaking during a Aug. 9 conference call regarding the firm’s Q2 results announced earlier the same day, AMC chairman and CEO Adam Aron revealed that the cinema chain intends to have the infrastructure ready to accept BTC payments for online movie tickets by the end of 2021.

While details regarding AMC’s plan to accept Bitcoin are scant, Aron reported strong demand for buying movie tickets with crypto from the firm’s customers.

AMC’s Q2 results showed significant improvements compared to last year, reporting $444 million in revenue compared to Q2 2020’s $18.9 million in revenue. Net losses also declined from $561 million or $5.38 per share to $349 million or $0.71 per share year-over-year.

Along with adopting BTC payments, AMC also announced plans to open more than one dozen locations across the U.S., Europe and the Middle East this year.

The chairman also made the unlikely claim that he first learned about crypto assets after being elected to the board of Centricus Acquisition Corp. on May 6 — one week before Centricus acquired blockchain technology firm, Arqit.

Related: Robinhood stock outruns Bitcoin in intraday crash, down over 10% in pre-market

AMC’s impressive Q2 results come just one year after the firm appeared destined for bankruptcy, with the cinema operator being forced to close venues as the global coronavirus pandemic spread.

Amid the pandemic, notorious Reddit-based pump-n-dump group, Wallstreetbets, converged on AMC’s shares to drive a 900% gain in its stock during January. According to data from TradingView, the price of AMC stock is up 1,200% year-to-date after rallying from roughly $2.60 to $34 as of this writing.

Robinhood stock outruns Bitcoin in intraday crash, down over 10% in pre-market

August 5, 2021 Coin Telegraph

AMC Entertainment

The decline followed Robinhood Market’s announcement that it would sell up to 98 million Class A shares over time.

The cost to purchase one Robinhood share (HOOD) dropped massively in the pre-market session on Thursday, beating even so-called volatile cryptocurrencies like Bitcoin in terms of intraday losses.

In detail, HOOD was down 10.2% to $63.25 as of 8:00 am EDT compared to its $85 high in the previous session. On the other hand, Bitcoin (BTC) is down almost 6% over the past 24 hours, trading around $37,600.

The stock plunged partly because of its excessive valuations that prompted traders to lock their interim profits. Moreover, its sell-off accelerated after Robinhood Markets had announced that it would sell up to 97,876,033 of its Class A shares over time.

Breaking News

Robinhood $HOOD to sell 97,9 million shares from early investors (the same bloated billionaire VC funds that get in at dirt cheap prices). I said on my show be careful not to be long when lockup ends and firms begin ratings.
Be nimble if you are a trader.
— Charles V Payne (@cvpayne) August 5, 2021

Nevertheless, the company clarified that it would not receive any of the proceeding capital. Instead, the selling shareholders — including Andreessen affiliates and New Enterprise Associates — would receive the benefits.

HOOD’s decline came a day after it soared higher by more than 50% in a meme rally, earning Robinhood’s zero-fee trading platform a market capitalization of $58.9 billion. The supersonic volatility caused multiple trading halts on the Nasdaq exchange.

*Robinhood stock HOOD surged four days in a row in a rally backed by retail traders. Source: TradingView*

Supportive retail traders, led by Cathie Wood’s flagship Ark Innovation exchange-traded fund, started buying HOOD after its disappointing initial public offering on July 29.

That marked another example of how an army of small traders enjoyed influence over Wall Street, a trend Robinhood itself helped boost during the infamous GameStop and AMC stock pump in January 2021.

The frenzy eventually led to the shut down of Square Capital, a hedge fund that had placed a short bet on GameStop. Additionally, Melvin Capital, which was also bearish on GameStop, suffered a 53% loss.

Retail-led upside booms also spilled over the cryptocurrency market, with meme crypto Dogecoin’s (DOGE) year-to-date returns shooting upward of 8,000% following the congregations of traders on Reddit and other social media platforms who wanted to push the Dogecoin prices to $1. To date, DOGE’s price has managed to reach nearly $0.70.

*Dogecoin prices failed to hit $1. Source: TradingView*

But the so-called meme stocks dropped hard following their super-volatile bull runs. For instance, GameStop’s was down by 70% on Wednesday from its record high of $483. Similarly, Dogecoin dropped 75%, and AMC Entertainment — 64.23%.

London-based hedge fund Odey Asset Management, which manages about $4.1 billion, recently took a short bet on the AMC stock.

AMC Entertainment

Buy $384M in real estate with DOGE

Low transaction levels

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