AMC Theatres has distributed free NFTs to the shareholders it has acquired through Investor Connect.
In expectations of Spider-Man: No Way Home, Sony Pictures and AMC revealed in November that they would be providing an exclusive Spider-Man NFT to members of AMC Theatres Stubs Premiere & A-List and AMC Investor Connect. The well-known theatre chain announced a second NFT drop that was only available to AMC Investor Connect members and was conducted over the WAX blockchain.
Given that AMC Investor Connect is a program geared toward individuals who have already identified themselves as shareholders of AMC, the exclusive NFT drop features a gold embossed medallion with the inscription “I Own AMC.” The company has previously stated that it anticipates providing holders of the NFTs with airdrop discounts or other advantages at its theatres shortly.
AMC Theatres has yet to provide an official statement regarding the fate of its 1.6 million Investor Connect NFTs, but it seems likely they will be put up for sale shortly.
This issue does raise several questions about both NFTs as an asset class and the fairness of distribution. In the case of AMC NFTs, it is clear who owns what, and there is nothing that prevents individual holders from selling their NFTs via traditional marketplaces.
It is still being determined how much AMC Theatres’ NFTs are worth, but one website allowing users to convert WAX into USD estimated their value at $1.5 million.
Prices of NFTs are notoriously difficult to forecast and estimate, and the AMC Batman tokens are not an exception to this rule.
The number of such NFTs has yet to be made public by AMC. However, considering that there are currently 10,833 (or roughly) AMC screens in operation and that Batman had a very successful opening week, that is quite a significant number.
Because of this, it is difficult to quantify scarcity, which is problematic because scarcity is one of the factors determining the value of an NFT.
In the case of AMC NFTs, it is difficult to determine how many were distributed. The number of AMC Investor Connect accounts less than a month after the NFT drop was announced.
This would suggest that there are either a) more accounts than that and b) that these are inactive accounts, as an active account would have already received the token by now. In any case, AMC should release the number of tokens received by investors before completing its Token Sale.