There’s no questioning the hype around NFTs. With people in the space making millions of dollars through their collections, and several big brands reaping their own benefits of the trend, it’s no surprise that more and more big names are diving in. The next in the line of these big names is the biggest movie theater chain in the world. 

AMC is a movie theater powerhouse that’s seen its stock soar about 2,000% this year thanks to meme stock hype. Now, in an attempt to continue appeasing the online community, it seems as though the company is getting ready to enter the metaverse. 

AMC Might Launch NFTs Soon

According to various sources, AMC is currently in talks with Hollywood Studios to launch NFTs surrounding major films. The announcement came in the earnings call surrounding the company’s third-quarter results. 

In the call, the CEO of the company, Adam Aron explained that, “This is the 21st century after all,” explaining that times are changing and technology is changing along with it. As it does, AMC plans to stay ahead of the trends, maintaining its leadership position as the most compelling brand in the movie theater space. 

So, why exactly would AMC want to launch its own NFT collection? There are several reasons, but the most compelling include:

  • Connecting With the Community. NFTs aren’t just digital pieces of art. They’re backed by a massive community of enthusiasts and give that community a way to connect with artists, developers, and brands. As the movie theater industry continues its post-COVID-19 recovery, connecting with the community is more important now than ever before.  
  • Raise Funds. When done properly, NFTs have the potential to drive significant revenue, not only through the first sale of the art, but as a result of royalties on secondary market sales. In their earnings report, AMC showed some concerning stats with regard to revenue. While the company didn’t mention using NFTs as a way to drive further revenue, there’s a strong chance that the idea is on the minds of management.  
  • Stay Ahead of the Game. There’s no question that Web3 is going to change the digital world as we know it. It’s the same type of innovation that we saw from AOL in the days of dial-up internet. While NFTs and Web3 are in their infancy, those that dive in early will reap the benefits in the long run. There’s no question that AMC wants to be one of those early adopters that benefits greatly down the road. 

It’s Not Just About AMC

The fact that AMC is diving into the Web3 space is exciting. However, in my view, the story goes far beyond the AMC brand. The fact of the matter is that the community centered around the blockchain is growing rapidly, and for big brands to keep up with what their audience wants to see, it’s crucial that they get into the space. 

That’s why we’ve seen tons of big names jumping on the blockchain. 

Sure, AMC is the most recent company to dive into the industry, but they’re not the only one. We’ve seen companies like Paramount Pictures, Visa, MasterCard, McDonalds, and several other major brands make the decision to launch their own digital asset collections. 

What does that have to do with the price of tea in China? Nothing! But it has everything to do with the pivotal change we’re likely to see in the digital realm. 

You see, consumers are growing weary of the world of digital ownership as we know it. The internet is nothing more than a copy and paste function that offers static information, but no real, decentralized ownership of anything digital. My favorite example of this issue is streaming services. If you buy a movie through a streaming service, you have access to that movie as long as you maintain your account in good standing, but if you close your account, you lose your movie when you do. The blockchain and NFTs are changing that in a big way. 

More and more consumers are starting to realize that it’s now possible to own digital assets in a validated way that allows you to collect, trade, and sell these assets at your will. That’s a major change in the industry and as more and more people realize the capabilities of this technology, more and more big brands will have to jump on the bandwagon or get left in the dust. 

AMC NFT Collection Details

Although AMC did express an interest in diving into the NFT industry, they didn’t give many details as to the collections they plan to launch if, and when, they do. What we know so far is that the company is in talks with Hollywood Studios to make the move into NFTs possible. 

What’s that mean?

Well, major blockbusters from Hollywood Studios will be the center of the collections. However, we don’t know if that means the two entities will work to launch NFTs from blockbuster movies of the past, or if they will use collections to promote movies that they believe will be blockbusters in the future. Nonetheless, no matter which direction the team heads in, the collectibles they create are likely to be met with incredible demand. 

The Bottom Line

The bottom line here is that NFTs are becoming a major part of the entertainment industry and the way brands connect with consumers. As AMC and other industry leaders continue to get into the game, this technology is going to change the way the world sees the internet and digital ownership. 

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