AMC Stock Meets NFT Fever

TIM THOMAS TIM THOMAS Learn more

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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.

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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.

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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.

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Shareholder NFTs

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While the NFTs might be free today, the Kansas City-based movie chain fully expects that one day, they will be worth more, saying in the announcement that the NFTs will be “tradeable and/or sellable,” with AMC potentially prepared to take a cut via a “small royalty.”

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AMC has been riding the wave of its popularity this year, having attained meme-stock status among individual investors and AMC stock has soared in response, though it is off its best levels of 2021.

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