Not too long ago, the crypto community went through a somewhat confusing ordeal when it had been reported that Walmart had partnered up with Litecoin (LTC). The press release containing this information turned out to be fake, however, as it was revealed that an entity who had made the announcement pertaining to the collaboration had the same name as Walmart but did not actually speak for nor represent the company.
After that debacle, there might be some good news on the horizon for not just Litecoin but also Ethereum (ETH) and Bitcoin Cash (BCH). This is because AMC has recently stated that it shall be accepting BCH, LTC, and ETH as payments for both online tickets as well as concession payments by 2021’s end. These tokens shall be used primarily in conjunction with AMC Theatres, which is, in fact, the biggest cinema chain in the United States of America.
Cinema and crypto enthusiasts rejoice
It was Adam Aron, the CEO of AMC, who had been the one to make the announcement via Twitter. As alluded to earlier, three cryptocurrencies are receiving the most attention, for now, namely Bitcoin Cash, Litecoin, and Ethereum. These are not the first cryptocurrencies to be accepted by AMC, though, as Bitcoin had been previously accepted after Adam had disclosed this information during last month in an earnings call.
One of the most important long-term factors when it comes to cryptocurrencies is that of use-cases, and although the Walmart and Litecoin partnership did not really work out in the way that many would have hoped, there is some light at the end of the tunnel thanks to AMC.
AMC exploring blockchain-based options
Around the time of the abovementioned earnings call, Adam had additionally talked about what the goals for the company are on a long-term basis, during which he mentioned the possibility and interest of AMC in exploring different options based on blockchain technology. With this information in mind, it becomes clear as to why Adam would want a few of the top cryptocurrencies to be added as this would be the next logical step as the company looks to become increasingly involved in the industry and embrace the innovation which the new technology provides.
AMC had made a lot of headlines in the past thanks to its volatile moves regarding the company’s stock, with most of the newsworthy events occurring this year. A lot of the interest had also stemmed from the now infamous GameStop incident. As of yesterday, we observed that the company’s stock had experienced a massive increase of over 2,100 % from year to date.