‘What A New World We Live In,’ Says AMC CEO As Theater Chain’s NFTs Go For As Much As $223.8 In Secondary Market – AMC Entertainment Holdings (AMC)




AMC Entertainment Holdings Inc. (NYSE:AMC) said that almost 100,000 of the free non fungible tokens (NFTs) that were given away by the movie theatre chain to its Investor Connect shareholders have been redeemed.

What Happened: AMC CEO Adam Aron took to Twitter on Wednesday to announce that the company has emailed unique codes to its AMC Investor Connect members to claim the “I Own AMC” NFTs minted on the WAX Blockchain.

He also noted that almost 100,000 shareholders have redeemed the NFTs and more than 200 of the NFTs have been resold on the secondary market for as high as $223.80.

See Also: How To Buy AMC Entertainment (AMC) Stock

Why It Matters: This is the second NFT drop by AMC following the success of its first NFT offering in partnership with Sony Group Corp.’s (NYSE:SONY) Sony Pictures for the movie “Spider-Man: No Way Home.”

It also highlights the company’s efforts at connecting better with its newfound backers — the retail investors — who are highly enthusiastic about the cryptocurrency sector.

AMC, which already accepts Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) for ticket purchases, said earlier this month that it is “on track” to accept Dogecoin (CRYPTO: DOGE) and Shiba Inu  (CRYPTO: SHIB) for online concessions and ticket purchases in the first quarter of this year.

Price Action: AMC Entertainment shares closed about 2.8% lower in Wednesday’s regular trading session at $18.32, but rose almost 0.4% in the after-hours session to $18.39.

Read Next: Dogecoin Bull Elon Musk Takes A Dig At Cryptocurrency Volatility — With A Meme, Of Course

Photo: Courtesy of JAH2k via Wikimedia






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