AMC Theatres, an American movie theater chain, has entered the non-fungible token (NFT) space through a partnership with Sony Pictures. The company’s CEO, Adam Aron, announced the news in a tweet on November 28, noting that the companies will offer early-bird buyers of Spider-Man: No Way Home tickets up to 86,000 NFTs.
According to reports, ticket sales began today, and the film will be released in theaters on December 16. Over 100 designs from acclaimed animation studio Cub Studios will be featured in the NFTs. Notably, the studio has received BAFTA and Lovie nominations for its work.
The giveaway, according to AMC, will only be valid for tickets purchased or reserved for December 16. To be eligible for the NFTs, members of AMC Stubs A-List, Stubs Premiere, and Investor Connect must purchase or reserve tickets through AMCTheatres.com or the AMC mobile app.
Making use of an energy-efficient blockchain
AMC also stated that qualified guests would receive NFT codes and redemption instructions on December 22. To prevent cheating, the company stated that all purchased tickets must be scanned at theaters when guests arrive to determine which guests will receive the NFTs. AMC is attempting to prevent people who have had their tickets refunded from obtaining NFT codes in this manner.
Guests who receive an NFT code must redeem it by March 1, 2022. AMC is said to be using a website powered by WAX, an energy-efficient, ultra-low carbon footprint blockchain. AMC explained why it used WAX by stating that the blockchain is scalable and can handle up to 15 million transactions per day.
Aron believes AMC’s foray into NFTs will be successful because Spider-Man: No Way Home is one of the year’s most anticipated films. He also mentioned that Cub Studios’ talent would be critical to the project’s success.
The Spider-Man NFTs, according to the AMC CEO, are the best ticket-purchase gifts AMC has ever offered. Aron urged people to take advantage of the opportunity to walk away with an NFT as soon as possible, predicting that the 86,000 available slots would be filled quickly.