AMC Dishes Out Free NFTs To Over 425,000 Shareholders: What You Need To Know

AMC Entertainment Holdings Inc AMC is rewarding more than 425,000 of its shareholders with non fungible tokens minted on the WAX platform.

What Happened: AMC CEO Adam Aron said in a Tweet recently that the NFT and a WAX wallet for up to a year are free for the shareholders who enrolled by Dec. 31.

See Also: How To Buy AMC Entertainment (AMC) Stock

Why It Matters: It was reported previously that AMC expects to airdrop discounts and other benefits to holders of the NFTs. 

The tokens are tradeable but AMC will collect a small royalty on all transactions made from the NFTs.

In December, AMC said its Investor Connect members numbered more than 425,000. The tokens will be offered to all members residing in the United States and in any other country where it is both legal and where AMC and WAX have the technical ability to do so, as per a company statement.

In November, AMC and Sony Group Corp’s SONY Sony Pictures offered 86,000 NFTs to mark the release of “Spider-Man: No Way Home.”

AMC’s NFT efforts are aimed at connecting it better with its retail-investor following, who also have crossover interests in cryptocurrency.

Price Action: On Tuesday, AMC shares closed nearly 8.4% lower at $18.84 in the regular session and fell another 0.3% in the after-hours trading.

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