This year, meme coins have been able to secure significant collaborations. Dogecoin [DOGE] particularly, elevated its network by veering into Elon Musk’s Tesla. Now, OG meme crypto was all ready to explore the world of cinemas as AMC will soon start accepting DOGE as well as its counterpart Shiba Inu [SHIB] for payments.
The world’s largest cinema chain, AMC caught the attention of the crypto industry after its CEO Adam Aron wanted to onboard prominent crypto assets for payments. Initially, only four cryptocurrencies, namely Bitcoin [BTC], Litecoin [LTC], Bitcoin Cash [BCH] as well as Ethereum [ETH]. However, following the request of the community, Adam decided to incorporate Dogecoin and Shiba Inu.
While all the other assets have managed to make it to the cinemas, Dogecoin and Shiba Inu will reportedly make their debut at AMC this March. The CEO of the cinema chain took to Twitter to notify the community that DOGE and SHIB would be live on the website for online payments from 19 March. But, the integration of these assets on the mobile app would take longer.
Aron tweeted,
Is the addition of Dogecoin and other crypto the best option for AMC?
It was brought to light that AMC was in debt. Therefore, numerous members of the community assumed the introduction of crypto such as Dogecoin was an attempt to avoid debt. Despite the inclusion of crypto this year, it was discovered that the firm’s trailing 12-month revenue was at $1.52 billion. This was further followed by an operational loss of $1.21 billion.
More recently, AMC’s CEO was nudged to steer away from crypto considering the market’s latest downfall. However, the market seemed to be recovering and Dogecoin was up over 7% in the last 24-hours. Shiba Inu followed suit with a 9% daily surge.
Additionally, as ‘The Batman’ film is all set to hit theatres this week, AMC will likely make up for the losses incurred over the past year. The inclusion of crypto here is an added advantage.