Cinemark is looking to compete with AMC Entertainment theatres in a new NFT deal it just made with Disney.
From Tuesday, June 28th, through Thursday, July 7th, rewards members will get a chance to win one of 1,000 NFTs for Marvel Studios’ upcoming Thor: Love and Thunder.
AMC Entertainment was the first company to release NFTs (non-fungible tokens) to their movie theatre guests upon the purchase of a ticket.
The largest movie theatre chain in the world has released a Spider Man No Way Home NFT, Jurassic World NFT, The Batman NFT, Lightyear NFT, and many more.
Shareholders also received a rare series one “I Own AMC” NFT.
Read how much those are worth here.
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Cinemark teams up with Disney
“Cinemark is thrilled to collaborate with Disney on the release of these exclusive Marvel Studios NFTs for Thor: Love and Thunder,” said Wanda Gierhart Fearing, Cinemark Chief Marketing and Content Officer. – Box Office Pro.
The movie theatre industry has been steadily recovering ever since the pandemic struck the world in 2020.
Cinemark Holdings, Inc.’s total revenues for Q1 2022 increased by 303% to $460.5 million compared to $114.4 million for Q1 of 2021.
AMC Entertainment on the other hand earned $785.7 million in revenue during their first quarter of 2022, compared to $148.3 million in Q1 of 2021.
Cinemark’s marketing campaign to distribute Thor: Love and Thunder NFTs with Disney is a great move for the company.
However, AMC Entertainment continues to be the leader in the movie theatre industry, offering a more premium experience to its guests.
What are your thoughts on Cinemark competing with AMC Entertainment in the NFT space?
Leave a comment down below.
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Doesn’t amc recieve royalties on the nft’s, if so then everytime one is sold ,amc would recieve a percentage, which I think was smart to give them to investors.
Yup! AMC has created a form of passive income with these NFTs 💰
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