AMC Stock Meets NFT Fever

The world of NFTs and superheroes has just collided for AMC stock investors. Adam Aron, CEO of the movie chain, has been engaging with the cryptocurrency community and taking advice from retail investors, leading to the launch of two sets of digital collectibles known as non-fungible tokens, or NFTs.

It started with Spider-Man: No Way Home, the AMC Stubs A-List Premiere for which offered free NFTs to the first 86,000 qualifying members. Not only did the movie deliver near historic one-day ticket sales — second only to “AVENGERS: ENDGAME in 2019” — but the NFT promotion is credited with having helped to attract so many customers for the upcoming Dec. 16 showing

Each of the Spider-Man NFTs was claimed, demonstrating demand not only for these emerging digital collectibles but Marvel movies as well.

NFTs have already taken the blockchain industry by storm. It is not unusual for these unique digital collectibles to have multi-million dollar price tags attached, payable in cryptocurrencies like Ethereum. 

In the case of AMC, the Spider-Man NFTs were offered at no charge, which is how CryptoPunks by Larva Labs, one of the hottest NFT projects around, got started.

These days, you can’t buy a CryptoPunk for under $318,000 at last check, or 72.99 ETH, while many of the prices for these unique NFTs are up into the millions. It remains to be seen whether AMC’s Spider-Man NFTs will experience similar success

In the meantime, AMC is seemingly just getting started with its NFT push. After targeting moviegoers, the theater chain is now focused on its investors.

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