Shiba Inu has begun to progress to the next stage of its evolution, being the payments space. The meme coin is taking the same route as its predecessor to being a payment token for facilitating small transactions. It has now made it into AMC Theatre’s list of cryptocurrencies that will be accepted for purchases in the coming months.
This will provide what will be a utility for the meme coin going forward. Shiba Inu which was created with no utility prospects, moved only by the power of internet hype, will see a real-world application soon.
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AMC Announces Shiba Inu Payments
AMC CEO Adam Aron had published a poll on Twitter on October 29th to poll the community on their thoughts on Shiba Inu. The poll was similar to the poll carried out for SHIB rival Dogecoin before the company had implemented Dogecoin payments for tickets and concessions. The poll garnered over 150,000 votes, with 81.4% of the voters voting in favor of accepting SHIB.
TWITTER POLL #2: As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others. Should we strive to take Shiba Inu too?
— Adam Aron (@CEOAdam) October 29, 2021
SHIB price maintains low momentum | Source: SHIBUSD on TradingView.com
Fast forward to November and AMC held its quarterly earnings call on Monday. The earnings had more than 10,000 people listening, where CEO Adam Aron announced that the theatre chain would be accepting Shiba Inu as a payment method in the future. Theatre-goers would be able to purchase tickets and concessions as they would be able to with other cryptocurrencies.
The company, however, did not reveal a time frame for when SHIB payments would be accepted on its platform, but it is expected that the meme coin will go into effect alongside cryptocurrencies scheduled to be implemented for payments in 2022.
AMC Growing Its Lineup
The addition of Shiba Inu as an expected payment method has brought the total to six cryptocurrencies set to be accepted at the theatre chain. CEO Adam Aron had previously disclosed that the entertainment giant was working to implement crypto payments for its services. Initially, bitcoin was the only cryptocurrency announced. But as time went on, other cryptocurrencies were added to the lineup.
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Ethereum, Bitcoin Cash, and Litecoin were further added to the list to help provide more options for users when paying with cryptocurrencies. Then in October, Aron announced that the theatre chain would begin accepting Dogecoin, bringing the total to five.
Dogecoin payments were implemented after the CEO carried out a poll that saw the overwhelming majority voted for Doge to be added to the lineup. On October 5th, Dogecoin payments were officially announced, allowing users to purchase gift cards of up to $200 a day using the cryptocurrency.
Featured image from CNBC, chart from TradingView.com