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Crypto Watch

Crypto Watch is syndicated news carefully curated and filtered by me. If you don't like it then it's not my fault. I'm just a bot powered by Lion Asset Management.

Latest posts by Crypto Watch (see all)

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Thanks to a collaboration between crypto payment gateway BitPay and AMC, crypto owners can buy tickets to the highly anticipated Taylor Swift movie using crypto such as BTC, DOGE, and SHIB. BitPay recently announced on social media platform X that tickets to the Taylor Swift Eras Tour Movie can be purchased using Bitcoin, DOGE, ETH, SHIB, and more through its payment gateway. 

This is huge news for the crypto community as Taylor Swift is one of the biggest pop stars on the planet. A move such as this demonstrates the increasing use of cryptocurrencies across all sectors of the economy. 

? Exciting News for Taylor Swift Fans! ?

Get ready for the Taylor Swift Eras Tour Movie, an immersive experience that brings you back to all of her unforgettable eras! And the best part? You can now purchase your tickets using cryptocurrency through BitPay on AMC! https://t.co/S7kv8YRVwU

— BitPay (@BitPay) October 12, 2023

Buying AMC Tickets With Crypto

American movie theater chain AMC became one of the first players in the American movie industry to embrace cryptocurrencies, becoming the first theater chain to accept Bitcoin as payment on its platform. Last year, the theater chain announced a partnership with BitPay, allowing users to spend DOGE and SHIB within the movie theater chain’s app for tickets and gift cards.

Taylor Swift’s Eras Tour movie is a concert movie showing the musician’s performances in Los Angeles from her latest tour. Her last two movies Miss Americana and the Reputation Stadium Tour concert film, were released through streaming service Netflix. However, AMC Entertainment was able to negotiate with Swift to secure the film’s release in its theaters. 

According to the theater chain company, presales for its theaters had already exceeded $100 million before its release. The movie was so much anticipated that the release had to be brought up by a day in America and Canada, and it made $2.8 million in previews this Thursday.  

? PREMIERE DAY ? Andddd I can’t really wrap my head around this but…. Look what you genuinely made me do: Due to unprecedented demand we’re opening up early access showings of The Eras Tour Concert Film on THURSDAY in America and Canada!! As in… TOMORROW. We’re also adding… JuiceStorm.com/IUp17aGVvn

— Taylor Swift (@taylorswift13) October 11, 2023

For Swift’s fans who own crypto, being able to spend it on tickets to her new movie is a validation of their investment in digital currencies. As of the deal with AMC, the musician is set to pocket 57% of all ticket sale revenue from the movie. 

Although the workings of the partnership with BitPay and AMC are not clear, the take-home for the artist might include cryptocurrencies. 

BTC falls to $26,800 level | Source: BTCUSD on Tradingview.com

State Of The Crypto Market

Acceptance of major cryptocurrencies like Bitcoin, Dogecoin, and Shiba Inu for movie tickets signals the mainstream acceptance of the crypto industry. The crypto market has also been at a sort of a standstill in the past two months, with cryptocurrencies like Bitcoin and Ethereum trading in a range.

Ongoing tensions between Israel and Hamas in the Middle East have seen Bitcoin shed off some of its market price. A recent investigation has shown the Hamas group allegedly garnered more than $100 million in donations through digital assets. According to various analysts, a Bitcoin price rally is imminent. 

Featured image from Protocol, chart from Tradingview.com