AMC theatres will accept Doge and SHIB in Q1 2022, as confirmed by the CEO. The process for the same is on track, and there aren’t expected to be any delays for the same. AMC theatres have time and again talked about accepting cryptocurrencies, and this has helped them stay in the headlines. They already accept Bitcoin, but we all know hardly anyone is going to spend their sats to buy movie tickets. Meme tokens, on the other hand, can become a viable method to accept payments.
The company’s CEO said that all payments made via their site and the app are eligible for Doge and Shib payments. The exact announcement date for the same is not decided yet, but they are on the right track.
Good for Doge and SHIB
In the crypto space, for any token to do well, it must have a wide user base and adoption. This stands true for all coins and tokens but applies even more to meme coins. Since the very basis of meme coins is engagement, they bank mostly on adoption and the network effect. This is why for Doge and SHIB, it is a very big deal as AMC theatres will accept them by the end of Q1 2022.
AMC theatres currently have 950 locations with 10,500 screens globally. This number means it can cater to millions of people on a daily basis. In those people, even if 5-10% start paying with these meme tokens, then it will be a big step ahead for them. It is also the reason that the community of Dogecoin and ShibaInu has time and again started petitions for companies to accept it as payments.
When AMC theatres announced in 2021 that they would accept Doge and SHIB, it was in collaboration with Bitpay. The company has not started accepting SHIB officially yet, so the CEO of AMC has requested Bitpay to do so. At their request, Bitpay decided to add SHIB support. This might be the reason why the entire thing was pushed to Q1 2022.
What are your thoughts as AMC theatre’s CEO confirmed that they would accept Doge and SHIB by Q1 2022? And do you think this will help in adoption? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.