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AMC Gives Free NFTs to 580K Shareholders

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Since the initial meme stock frenzy that saw its share price soaring about this time last year, movie theatre chain AMC has gradually leaned towards the world of cryptocurrency. The corporation has now followed through on its pledge to reward stockholders with NFT collectibles.

AMC today sent exclusive “I Own AMC” NFTs to the over 580,000 shareholders who registered via AMC’s Investor Connect portal before the December 31 deadline. WAX, a platform developed for high-volume applications such as huge NFT drops and video games, was used to create the NFTs.

AMC previously used WAX for its recent collaboration with Sony Pictures, in which the firms handed 86,000 NFTs to consumers who bought tickets to the film “Spider-Man: No Way Home.” Mattel, Hasbro, Funko, and Atari have all used the WAX technology to create NFT collectibles.

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According to AMC’s investor communication, the NFTs will be tradeable, but they will also provide holders with benefits such as potential discounts and other benefits.

An NFT functions as a deed of ownership for a digital asset, such as collectibles, artwork, video files, and so on. According to DappRadar statistics, the NFT market expanded throughout the course of 2021, reaching $23 billion in trade volume. As of this writing, leading marketplace OpenSea has already shattered its single-month record for Ethereum NFT trading volume in January, surpassing $3.75 billion.