AMC Theatres CEO Aron: “There’ll be more NFTs in AMC’s future”

By Raffaele Redi

AMC Investor Connect’s 425,000 members will be first in line for the second series NFTs

Following AMC’s Spider-Man NFT success, AMC Theatres CEO, Adam Aron, announced new upcoming NFTs in the future.

The launch came as Metaverse-related companies are going through tough times on the stock markets. AMC share price lost around 22% in the last 5 days with the meme stock cinema trading lower by 1.4% at $28.64, a few hours after the NYSE bell rang.

The second series of NFTs by AMC are destined for what they call “self-identified” AMC shareholders who are members of AMC Investor Connect, and those who enrol by 31 December.

The image contained in the NFT is that of a moving and glimmering gold embossed medallion that proclaims, “I Own AMC,” as AMC Investor Connect is a program designed solely for the “self-identified” AMC shareholders.

AMC Investor Connect, which launched in June 2021, gives its members exclusive benefits such as free concession items, early access screenings, membership of the AMC Stubs loyalty programme and messages from AMC’s senior management.

425,000 NFTs

The company said the NFT, created by the blockchain platform WAX, will be offered to AMC Investor Connect members who live in the United States – and anywhere in the world where regulation allows it.

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There is no fee for an AMC shareholder to enrol or stay enrolled in AMC Investor Connect, which presently has more than 425,000 members.

Current AMC Investor Connect members and new Investor Connect members who sign up by 31 December, will receive an email invitation to secure their NFT by 31 January 2022.

AMC plans to “airdrop” discounts and other benefits at its theatres to holders of the NFTs.

Through its associations with WAX, the AMC Investor Connect NFT is energy-efficient, with an ultra-low carbon footprint. The WAX blockchain was the first to be certified carbon neutral and processes 15 million transactions a day.

 Aron, who is also AMC chairman, commented: “After our first NFT met with enthusiasm earlier this week, there was no doubt we would embark on issuing another NFT and that we would do so quickly. This ‘I Own AMC’ NFT is AMC’s second NFT, and I can say with certainty there will be more NFTs in AMC’s future.”

Further reading: Wikipedia’s first edit under the hammer as NFT at Christie’s

Further reading: Metaverse companies bleed as chips supply crunch could end in mid-2022

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