Cryptocurrency can be used to pay for digital gift cards of AMC Entertainment, CEO of the company Adam Aron said.
American cinema chain AMC has started selling digital gift cards for Dogecoin and other cryptocurrencies. The company's CEO, Adam Aron, tweeted that the BitPay wallet is being used for this. Payment in digital assets is available on the AMC website, in the mobile app, and in theaters themselves.
The fact that AMC will start accepting cryptocurrency for payment became known in August. Thus, the company expects to increase sales during the pandemic. In addition to accepting digital assets, the theater chain plans to add the ability to pay using Apple Pay and Google Pay.
AMC Entertainment owns about 1,000 cinemas in the United States and Europe. Despite the growth in revenue, the company's losses in the second quarter amounted to $ 344 million. It was able to resume the work of all its cinemas only at the end of June this year.
At the beginning of this year, AMC was on the verge of bankruptcy due to quarantine restrictions. Many cinemas have been closed and studios have postponed premieres of their films. However, social media users sparked a surge in the value of several stocks, including AMC. As a result, the network was able to place additional securities, raise funds and avoid bankruptcy.