AMC is getting into the NFT game.
The world’s largest movie theater chain — which in August said it would accept Bitcoin for online ticket and concession purchases as well as a range of other cryptocurrencies by the end of the year — said it is teaming up with Sony Pictures to offer NFTs as freebies to its best customers.
Specifically, the two companies will hand out 86,000 non-fungible tokens or NFTs to members of AMC Stubs Premiere, A-List and AMC Investor Connect who order tickets for the Dec. 16 opening of “Spider-Man: No Way Home” in advance.
AMC said Sunday that more than 100 NFT designs will be available in partnership with Cub Studios. Tickets for the movie, starring Tom Holland as Spider Man, Zendaya as MJ and Jamie Foxx as supervillain Electro, go on sale Nov. 29.
Ownership of NFTs is recorded on a blockchain, or digital ledger, where transactions of cryptocurrencies like Bitcoin are recorded. NFTs differ because unlike cryptocurrencies, they cannot be exchanged for dollars or other assets.
Customers who qualify for the Spider-Man NFT will get an email with redemption instructions on Dec. 22, and the token must be redeemed by March 1.
AMC has been on a rollercoaster ride during the pandemic, which shuttered its cinemas. The company narrowly averted bankruptcy and then got a boost from the meme stock craze.
Meme stock traders famously sent shares of GameStop and AMC soaring earlier this year and have pumped other stocks like Nokia and Bed Bath and Beyond. Traders of AMC call themselves “apes” and have a sizable, passionate base on social media platforms like Twitter and Reddit. They affectionally refer to AMC’s Aron as “silverback.”
This year alone, AMC’s stock went from trading round $5 a share to a high of over $59 in June, and it now trades around $48 a share.