AMC might be looking to accept dogecoin as payment for movie theater tickets, a Wednesday (Sept.22) report said.
The development came after AMC CEO Adam Aron launched a Twitter a poll, in which 77% of the 140,000 respondents said they wanted the chain to accept the cryptocurrency.
Aron said the company would now “need to figure out how” to do it.
He said the tweet had been the most read and retweeted of any of the ones he’s posted, reaching 42 million people.
Aron’s tweets in the past have generated a fanbase and support for AMC shares. The company’s shares have jumped nearly 1,800% this year even in spite of COVID-19-related perils still stunting the growth of the chain’s recovery.
AMC has also had plans recently to implement payment options for other cryptocurrencies, including ethereum, litecoin, bitcoin and bitcoin cash, by the end of the year.
PYMNTS previously reported on AMC’s plans to allow crypto for payment, writing that this was another way that companies had been reinventing themselves in the wake of the pandemic — in particular, brick-and-mortar franchises like theater chains.
PYMNTS has found that many customers want to be able to pay for things using cryptocurrency, and research has shown that almost half of the customers paying with digital currencies have done so for transactions under $100. The report also said that many people want to use digital currencies to pay for small-dollar things including movie tickets or similar purchases.
Additionally, around 18% of the population have voiced support for using digital currencies to pay for things.
However, the volatility of crypto may still make it tough to work out the specifics of how to pay, PYMNTS reported, along with the high values of bitcoin and transaction fees.
AMC was also one of the “meme stocks” highly promoted by retail traders early in 2021, as the traders sought to undermine the predictions of failure for some companies by big hedge funds.
Read more: AMC Brings Bitcoin to Big Screen With Crypto
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