AMC, an American movie theatre chain, the mobile app now supports payments in both meme coins Dogecoin and Shiba Inu, as well as other cryptocurrencies. The firm has integration with crypto payments provider BitPay. As such, users can spend their DOGE and SHIB on tickets, gift cards, concessions etc.
AMC, through its partnership with BitPay, implemented Dogecoin and Shiba Inu on its online portal in March. Adam Aron, the CEO of AMC, tweeted about mobile support. He highlighted that as promised, AMC mobile app for AMC’s US theatres now accepts online payments for Dogecoin, Shiba Inu, and other cryptocurrencies. Aron urged users to update to the latest version of the AMC mobile app to take advantage of the offerings.
However, the addition of meme coins to the company’s app did nothing for its stock. In fact, AMC’s stock was down nearly 3%. AMC stock had started 2022 at the price of about $26.50 and increased to above $29 per share only briefly in late March. The price has since then slipped significantly.
As for the meme coins, Dogecoin has gained 1.67% in the last seven days, and Shiba Inu is up 8.34%. The theatre chain turned to cryptocurrency in August 2021, announcing plans to accept Bitcoin payments by the end of the year. AMC gradually expanded its list of cryptocurrencies to Ethereum and Bitcoin Cash. The theatre chain has also launched its own NFT collectibles via the WAX blockchain.