AMC Dishes Out Free NFTs To Over 425,000 Shareholders: What You Need To Know

AMC Entertainment Holdings Inc AMC is rewarding more than 425,000 of its shareholders with non fungible tokens minted on the WAX platform.

What Happened: AMC CEO Adam Aron said in a Tweet recently that the NFT and a WAX wallet for up to a year are free for the shareholders who enrolled by Dec. 31.

Emails detailing how to claim your AMC Investor Connect “I Own AMC” NFT will be sent next week on Jan 18, to all in the U.S. and globally who enrolled by 12/31/21. The NFT and a WAX wallet for up to a year are free to you. TY to our passionate shareholders. Own this NFT proudly! pic.twitter.com/veo5hSYCkr

— Adam Aron (@CEOAdam) January 13, 2022

See Also: How To Buy AMC Entertainment (AMC) Stock

Why It Matters: It was reported previously that AMC expects to airdrop discounts and other benefits to holders of the NFTs. 

The tokens are tradeable but AMC will collect a small royalty on all transactions made from the NFTs.

In December, AMC said its Investor Connect members numbered more than 425,000. The tokens will be offered to all members residing in the United States and in any other country where it is both legal and where AMC and WAX have the technical ability to do so, as per a company statement.

In November, AMC and Sony Group Corp’s SONY Sony Pictures offered 86,000 NFTs to mark the release of “Spider-Man: No Way Home.”

AMC’s NFT efforts are aimed at connecting it better with its retail-investor following, who also have crossover interests in cryptocurrency.

Price Action: On Tuesday, AMC shares closed nearly 8.4% lower at $18.84 in the regular session and fell another 0.3% in the after-hours trading.

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