AMC Theatres considers adding Shiba Inu as payment option

AMC Theatres considers adding Shiba Inu as payment option


AMC Entertainment is currently in the process of upgrading its technical infrastructure for allowing its consumers to pay online with Ethereum, Bitcoin, Litecoin and Dogecoin for movie tickets.


AMC CEO, Adam Aron, asked through a Twitter post on October 29 that if users are interested in getting Shiba Inu added to the payment options. While writing, 97,582 Twitter users had already participated in the poll, with approximately 85 per cent of the voters choosing “Yes.”


The iconic theatre chain has also taken an increasing interest in cryptocurrencies lately. CEO Aron had discussed last week the possibility of issuance of a company-specific crypto token. 


Earlier in October, AMC had enabled all of its customers to purchase digital gift cards via the Dogecoin and other crypto tokens using the BitPay wallet. Back in September, during a CNBC interview, Aron had also expressed interest in minting commemorative movie tickets as NFTs.


As per the latest data, on October 29, Shiba Inu has overtaken Dogecoin, becoming the world’s ninth-largest cryptocurrency by market capitalization. 


According to data from Etherscan, the daily total of Shiba Inu transactions has surpassed 140,000, only a little away from its all-time high of 172,411 daily transactions that was achieved in May 2021.


The Shiba Inu ecosystem has also currently expanded and included ShibaSwap, a decentralized exchange, or DEX. ShibaSwap’s total value locked, or TVL,  amounts to $537.92 million based on figures from Defi Llama. 


At present, there are 29 coins listed on ShibaSwap, where $236 million worth of coins has changed hands within the last 24 hours. 


Other than its foundational token, ShibaSwap features two additional tokens. Bone ShibaSwap is used for voting on governance protocols presented by developers, while Doge Killer is used for providing trading liquidity on the DEX.


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