AMC Giving Away Free NFTs: Here's How You Can Get One

AMC Giving Away Free NFTs: Here's How You Can Get One

The largest movie theater company in the world is diving further into the world of non-fungible tokens after the strong demand for its first offering. Here’s the details and how you can get one.

What Happened: Movie theater company AMC Entertainment Holdings AMC announced Monday morning that it will offer an exclusive NFT to AMC Investor Connect members.

Launching on the WAX Blockchain, the new NFT will be only available to shareholders of AMC stock and will feature the phrase “I Own AMC.”

“Given AMC’s Spider-Man NFT success, our first ever NFT, I am thrilled to announce our second ever NFT!” AMC CEO Adam Aron tweeted Monday.

AMC said it expects to airdrop discounts and other benefits to holders of the new movie theater NFT. The NFT will be tradeable by holders. AMC will collect a small royalty on all transactions made from the NFTs.

Current AMC Investor Connect will receive the AMC NFT free of charge. Those who are shareholders and not AMC Investor Connect members can sign up for Investor Connect by Dec. 31, 2021, to receive access to the NFT. The company said the NFT will be available for residents in the U.S. and countries where it is legal and where “AMC and WAX have the technical capability to do so.”

Email invitations on obtaining the new AMC NFT will be sent out no later than Jan. 31, 2022, according to the company.

AMC reports that over 425,000 people belong to the AMC Investor Connect program.

Related Link: AMC Entertainment Crashes Movie Ticket Sites Thanks To Spider-Man Demand And NFTs: What Investors Should Know 

Why It’s Important: AMC Investor Connect launched in June 2021. The program has offered rewards such as free concession items and early screenings of movies to AMC shareholders.

AMC also offers the AMC Stubs loyalty program, which could be next in line for an NFT highlighting membership in the program.

“This ‘I Own AMC’ NFT is AMC’s second NFT and I can say with certainty there will be more NFTs in AMC’s future,” Aron said.

The new NFT from AMC comes after the movie theater company partnered with Sony Pictures, a unit of Sony Group Corp SONY, to launch Spider-Man-themed NFTs.

AMC offered 86,000 Spider-Man-themed NFTs for people who bought tickets to “Spider-Man: No Way Home.” The NFTs feature 100 differently designed themes and were offered to AMC Stubs A-List, Premiere or Investor Connect members.

Movie ticket sites crashed due to demand for both the NFTs from AMC and overall excitement for the new Spider-Man movie.

AMC is the first movie theater company to launch NFTs and had hinted earlier this year that the growing asset will play an important part of tickets going forward.

AMC Price Action: AMC shares are up 5% to $30.46 Monday morning at publication.

 

Posted In: Adam AronAMC Investors Connectmovie theater stocksNFTNFTsnon-fungible tokensSpider ManSpider-Man: No Way HomeCryptocurrencyNewsMarkets

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