AMC Entertainment (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report and Sony (SONY) - Get Sony Corp. Report are getting in on the NFT act.
The two companies said that they would offer 86,000 nonfungible tokens to members of the theater chain's AMC Stubs Premiere, AMC Stubs A-List and AMC Investor Connect who order tickets for the opening of “Spider-Man: No Way Home” in advance.
Shares of the Leawood, Kan., theater chain were down 3.1% to $36.44. American depositary receipts of Sony were 0.5% higher at $121.88.
Tickets went on sale Monday and the film will open in theaters on Dec. 16.
“Our AMC Theatres guests and our AMC Entertainment shareholders have been calling for AMC to get into the world of NFTs, and we couldn’t imagine a more perfect way to start doing so than with our good friends at Sony Pictures," Adam Aron, AMC's chairman and chief executive.
"But with just 86,000 available, they’re going to go very fast. So, my advice is to get your Spider-Man tickets as quickly as you can.”
Aron tweeted on Monday that the NFT event caused its online ticketing traffic Sunday night and Monday morning to soar to the highest in the company's history.
"Oh did we sell tickets! " he said. "But we are sorry wait times got long with the unprecedented volumes."
"I guess you could say the demand heavily outweighed the supply," one Twitter user responded. "Not a first for AMC."
More than 100 NFT designs will be available, designed by Cub Studios.
The Spider-Man NFT will be available to be redeemed at a dedicated site operated by Miami-based Wax, which AMC said was an energy efficient, ultra-low-carbon-footprint blockchain and the first to be certified carbon neutral.
“Spider-Man: No Way Home” is the third installment in the series starring Tom Holland.
The previous film, "Spider-Man: Far From Home" grossed $1.13 billion worldwide and is the fourth-highest-grossing movie of 2019 and the 25th-highest-grossing movie of all time.
Earlier this month AMC began accepting bitcoin, ether and other cryptocurrencies for online payments.