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You can now buy AMC digital gift cards using Dogecoin


doge-meme

Know Your Meme

AMC has begun to accept payment for its digital gift cards in Dogecoin and other cryptocurrencies. CEO Adam Aron made the announcement via Twitter on Wednesday.

“Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app and in theatres,” Aron tweeted.

To purchase AMC’s digital gift cards with Doge, you’ll need to sign up for BitPay, an Atlanta-based crypto payment processor that also provides digital gift cards for other big-name retailers including Amazon, GameStop and Home Depot. AMC’s gift cards can be used to purchase movie tickets and concessions — it’s not entirely clear on AMC’s website if digital gift cards can be used the same way. AMC did not immediately respond to a request for comment.

Read more: Dogecoin: The origin story of the Elon Musk supported cryptocurrency

AMC’s move to accept Dogecoin follows a poll conducted by Aron on Twitter in September about which cryptocurrencies the company should accept. Out of more than 140,000 responses, 68.1% voted “Yes, for sure do it.”

Since being caught up in a stock market frenzy initiated by traders coordinating in a Reddit forum, AMC’s stock has experienced wild fluctuations. The company has worked, with mixed results, to harness investors’ energy and enthusiasm in “meme stocks” in a variety of ways including the introduction of AMC Investor Connect and the announcement to accept Bitcoin by the end of 2021. The decision to accept Dogecoin can be seen as another effort in that vein.

In January, the value of Dogecoin rose more than 300% over the course of a few days — a swing attributed, in part, to promotion on Twitter from Elon Musk. Beyond boosting its short-term value, Musk’s promotion has helped Dogecoin become a part of the popular lexicon. In one tweet, Musk shared an image of a fake magazine called “Dogue” with a dog-themed cover.

Read more: Cryptocurrency pump-and-dump schemes: Everything you should know about these scams

AMC’s decision to accept payment in Dogecoin pulls together some strange financial stories that have been a hallmark of 2021. Though it will almost certainly generate interest online — Aron’s September tweet generated considerable traction — whether it actually pays off remains to be seen.





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