AMC Theatres and Wax to Issue a New Exclusive “I Own AMC” NFT to All Existing and New Members of AMC Investor Connect

Rhea-AI Summary

AMC Theatres (NYSE:AMC) announces a second movie-themed NFT for AMC Investor Connect members, following positive responses to their initial NFT. This new NFT features a gold-embossed medallion stating, “I Own AMC,” and will be tradable. Current participants and new members who join by December 31, 2021, will receive this NFT by January 31, 2022, at no cost. AMC Investor Connect, established in June 2021, has over 425,000 members and offers perks like concessions and screening access. The NFTs are created in partnership with WAX, a leading carbon-neutral blockchain.

Positive

• Launch of a second NFT after successful initial offering, indicating strong demand.
• AMC Investor Connect program has over 425,000 members, highlighting significant shareholder engagement.
• Partnership with WAX, a leading blockchain, enhances credibility and environmental responsibility.

Negative

• None.

LEAWOOD, Kan.--(BUSINESS WIRE)-- AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East and in the world, today announced that after the favorable public response to a movie-themed NFT offered a week ago exclusively to AMC ticket buyers, AMC will now offer a second NFT to all AMC Investor Connect members, to be delivered by the Worldwide Asset eXchange (WAX). The movie themed NFT was the first ever NFT issued in significant quantity by a theatrical exhibitor, and this AMC Investor Connect NFT will be the second.

Courtesy of AMC (Photo: Business Wire)

As AMC Investor Connect is a program designed solely for self-identified AMC shareholders, the image contained in this NFT is that of a moving and glimmering gold embossed medallion which proudly proclaims, “I Own AMC.”

It is expected that this NFT will be tradable and/or sellable. There may be fees or costs associated with such transfers, including a small royalty to AMC.

From time to time, AMC expects to airdrop discounts or other benefits at its theatres to the then current holders of these NFTs.

The AMC Investor Connect NFT is being created by WAX, an energy efficient, ultra-low carbon footprint blockchain and the first certified carbon neutral. WAX is the world’s leading blockchain, processing 15 million transactions daily.

Current members of AMC Investor Connect, and those who sign up for Investor Connect by December 31, 2021, will receive, free of charge, an exclusive AMC NFT celebrating all of AMC’s shareholders. This exclusive, one-time NFT is yet another benefit for AMC Investor Connect members. AMC Investor Connect, which launched in June of 2021, allows self-identified AMC shareholders to sign up for exclusive benefits like free concession items, early access screenings, membership in the AMC Stubs loyalty program and communications from AMC’s senior management.

Current AMC Investor Connect members and those new Investor Connect members who sign up by December 31, will receive an email invitation to secure their NFT no later than January 31, 2022.

The NFT can be maintained either in the WAX Cloud Wallet, or certain other crypto wallets. If warehoused in the WAX Cloud Wallet, AMC will pay all such account hosting costs for all of calendar year 2022.

There is no fee for an AMC shareholder to enroll or stay enrolled in AMC Investor Connect. As of today, there are more than 425,000 AMC Investor Connect members. The NFT will be offered to all AMC Investor Connect members residing in the United States, and to those in any other country where it is both legal and where AMC and WAX have the technical capability to do so.

To learn more about AMC Investor Connect and for AMC shareholders who would like to sign up as new members in time for the December 31 NFT deadline, please visit: amctheatres.com/stockholders

Adam Aron, Chairman and CEO, AMC, commented: “After our first NFT met with enthusiasm earlier this week, there was no doubt we would embark on issuing another NFT and that we would do so quickly. This ‘I Own AMC’ NFT is AMC’s second NFT, and I can say with certainty there will be more NFTs in AMC’s future.”

Aron added, “I further want to extend our sincere appreciation and gratitude to WAX, which was a terrific partner on our initial NFT effort and whose entrepreneurial spirit make them ideally suited to work with us again. In our view, WAX clearly continues to be a leader in this space.”

“Building on the excitement and demand from our first AMC launch, WAX continues to trailblaze in innovation by introducing a unique NFT membership program,” says William Quigley, Co-Founder of WAX. “Through our continued partnership with AMC, we will offer Investor Connect Members NFTs that unlock real world experiences.”

WAX is the most utilized blockchain in the world processing 15 million transactions daily with over 450,000 daily users. It consumes only .000223 terawatts of energy and produces only 110 tons of carbon a year, about the same as 5 individual Americans, and has been certified carbon neutral. It is second only to Ethereum in monthly NFT sales volume among layer-1 blockchains. Wax Cloud Wallet is one of the most widely used blockchain wallets in the world with over 8,000,000 user accounts.

About AMC Entertainment Holdings, Inc.

AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 950 theatres and 10,500 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. For more information, visit amctheatres.com.

About WAX - The King of NFTs

The Worldwide Asset eXchange™ (WAX), aka the King of NFTs, is the world’s #1 blockchain, as measured by number of users and transactions, according to Dappradar.com. WAX’s mission is to bring NFTs to the mass market in the safest, most secure, environmentally friendly, and easy-to-use marketplace in the world. WAX is also the leading entertainment NFT network — in 2018, WAX introduced vIRLs®, giving consumer product companies the ability to directly link NFTs to physical consumer products. Co-founded in 2017 by William E. Quigley and Jonathan Yantis, WAX has facilitated the trade of more than 100 million digital collectables including Mattel, Hasbro, Major League Baseball (via Topps MLB collectables), Funko Digital POP!, Capcom’s “Street Fighter,” World Series of Poker and world-renowned entertainers Deadmau5 and Weezer. WAX is also the leading play-to-earn games and entertainment NFT network in the metaverse and is home to many of the leading blockchain games including Alien Worlds, Splinterlands, Farmers World and Farming Tales. For more information, please visit https://wax.io and follow along on Twitter and Discord.

Category: Company Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005258/en/

INVESTOR RELATIONS:

John Merriwether, 866-248-3872

InvestorRelations@amctheatres.com 

MEDIA CONTACTS:

Ryan Noonan, (913) 213-2183

rnoonan@amctheatres.com

 

Source: AMC Entertainment Holdings, Inc.

FAQ

What is AMC's latest NFT offering for Investor Connect members?

AMC is offering a second movie-themed NFT for Investor Connect members, which will be available at no cost to current and new members who sign up by December 31, 2021.

When will new members receive their AMC NFT?

New members who sign up for AMC Investor Connect by December 31, 2021, will receive their NFT by January 31, 2022.

How many members are in the AMC Investor Connect program?

As of now, AMC Investor Connect has over 425,000 members.

What are the benefits of joining AMC Investor Connect?

Members receive exclusive benefits including free concession items, early access to screenings, and communication from AMC's management.

Who is responsible for creating AMC's NFTs?

The NFTs are created in collaboration with the Worldwide Asset eXchange (WAX), a leading carbon-neutral blockchain.