AMC is going all-in on the blockchain. Earlier this month, the movie theater chain announced it would begin accepting payments in cryptocurrency, and now it’s giving out NFTs as ticket pre-orders freebies for the new Spider-Man movie.
On Sunday, AMC announced a joint effort with Sony Pictures to give away up to 86,000 NFTs to Stubs Premiere, A-List, and AMC Investor Connect members who reserve or purchase an advanced ticket for opening-day showings of “Spider-Man: No Way Home.” NFTs are digital collectibles that have quickly become the obsession of Silicon Valley bros and mega-brands alike, with some selling for millions of dollars.
To be eligible, you’ll have to purchase or reserve your ticket through AMC’s website or mobile app once they go on sale on Nov. 29, and the promotion is limited to showings on Dec. 16 at AMC theaters in the U.S. Over 100 Spider-Man-themed NFT designs will be available as codes that can be redeemed through the Wax platform, an energy-efficient, decentralized blockchain wallet. Recipients will be emailed a code on Dec. 22 and have until March 1, 2022, to redeem their NFT.
AMC called the joint promotion “the first of its kind from a major theatrical exhibitor” in a press statement Sunday. The company began leaning heavily into crypto after it and several other beleaguered retailers like GameStop and Nokia were embraced as meme stocks by investors on Reddit’s r/wallstreetbets forum earlier this year. By sending AMC’s stock prices soaring, retailer investors helped keep the company afloat after the effects of the pandemic almost pushed it to bankruptcy in 2020. These shareholders now own more than 80% of the company, announced AMC CEO and outspoken crypto fanboy Adam Aron earlier this year.
“So many good ideas have come in from our shareholders in 2021. Always food for thought. We quickly implemented AMC taking crypto, and now one of your very best ideas,” Aron tweeted on Sunday in reference to the Spider-Man NFT promotion.
This likely won’t be the last time AMC bundles NFTs as a pre-order goodie. In a post-earnings call earlier this month, Aron said the company was in talks with multiple Hollywood studios to launch NFTs, Reuters reports. It’s one of several measures AMC has proposed to capitalize on the boost in sales it’s seen in recent months as moviegoers return to in-person screenings en masse. The company is also reportedly considering launching its own cryptocurrency. Anything to put butts in seats and get ticket sales back up to pre-pandemic levels.