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AMC quarterly revenue beats estimates

Reuters

Theater chain AMC explores NFTs after big screen return boosts sales

(Reuters) -AMC Entertainment’s chief said on Monday the theater chain was in talks with Hollywood studios to launch non-fungible tokens (NFTs), after the company handily beat estimates for quarterly revenue as moviegoers returned to the big screen. “This is the 21st century after all, and it would seem that there may be a real opportunity for AMC in these areas,” CEO Adam Aron said in a post-earnings call, referring to its foray into NFTs, a type of digital asset which uses blockchain to record the ownership of items such as images and videos. The world’s largest movie-theater company had struggled during the pandemic as attendance came to a standstill, but rising COVID-19 vaccinations, easing curbs and new titles such as “Shang-Chi” and “Black Widow” are helping fill up cinema halls again.

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