Like it or loathe it, this has been a year of massive innovation for the cryptocurrency market. A key part of those innovations was the launch of NFTs, heavily sold to us as a way to preserve digital assets and authenticate ownership via the blockchain in a way comparable to the traditional art market. While not everyone has been sold on the notion, AMC, in conjunction with Sony, has bitten the hook and decided to enter the game. Entertainment lawyer Brandon Blake tells us more.
AMC building on meme stock
Of late we’ve seen AMC lean more and more into its status as a ‘meme stock’, so it’s hardly surprising to see this crypto lure thrown out to hungry crowds. It’s possibly a little more surprising to see Sony back them. Whatever the appeal, 86,000 NFTs will be offered to members of three AMC tiers (AMC Stubs A-list, AMC Investor Connect, and AMC Stubs Premiere) in return for advance ticket bookings for the new Spiderman film.
NFTs are widely seen among their supporters as a way to connect with customers as well as drive sales. And these crypto-collectibles are a hot property currently. While not everyone agrees that they have staying power, it’s certainly a booming current trend.
Using the blockchain
The idea is that the ‘digital ledger’ of the blockchain will help safeguard the ownership of the assets. Nor can each unique NFT, best seen as something of a collector’s item, be duplicated or exchanged for another NFT. In this particular promo, over 100 designs are available, being made in conjunction with Cub Studios.
Those who qualify for the promotion will receive emailed redemption instructions by December 22nd. March 1st, 2022 is the deadline for redemption. Will qualifying ticket buyers be keen on the promotion? That remains to be seen, but the Blake & Wang P.A team will be watching closely.