Crypto-savvy Taylor Swift fans are in for a treat as they can now secure tickets for the eagerly awaited film “Taylor Swift: The Eras Tour” using popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Shiba Inu (SHIB).
Launching in cinemas globally today, the film has already garnered a notable $100 million through presales, hinting at a potential box office success.
BitPay, a premier cryptocurrency payment platform, announced on a recent X (previously known as Twitter) post that they will be handling the cryptocurrency transactions for the movie tickets.
BitPay had earlier forged a partnership with the cinema chain AMC, paving the way for effortless cryptocurrency transactions when purchasing movie tickets.
For fans eager to utilize this cryptocurrency payment method, they can head to the AMC website or its mobile app and opt for BitPay during the checkout process.
In addition to Bitcoin, Ethereum, Dogecoin, and Shiba Inu, ticket buyers can also leverage other cryptocurrencies like Bitcoin Cash, Litecoin, and XRP for their purchases.
AMC emerged as a pivotal player in the trajectory of the “Eras” film. In an unprecedented move, they liaised directly with Taylor Swift to secure the film’s premiere in their theaters.
Forgoing the usual route involving conventional Hollywood studios for film distribution, AMC struck an exclusive agreement.
This arrangement ensures that Swift garners an impressive 57% of the revenue from ticket sales, a percentage that’s seldom awarded in the entertainment realm.
With the release of this film, there’s an anticipation of a revitalized box office, which has recently been grappling with setbacks from strikes led by Hollywood’s writers and actors guilds.
Following the notable launches of “Barbie” and “Oppenheimer” in July, there’s been a marked decline in cinema footfall.
Yet, the considerable excitement surrounding “Eras” has industry experts optimistic about its potential to draw vast audiences, providing a much-needed boost to the box office.
The film’s distinct distribution model, combined with a significant fraction of its audience choosing cryptocurrency as their payment method, could set the stage for an intriguing development in the film industry.
Payment Giants Continue to Adopt Crypto
Recently, MoonPay, a crypto payments infrastructure company, introduced a fresh capability in its app, allowing users to exchange one cryptocurrency for another directly.
This enhancement broadens the scope of MoonPay’s consumer-centric crypto application, introduced in May. The app initially provided users with the ability to buy various cryptocurrencies and oversee multiple wallets from within the platform.
The latest move by MoonPay aligns with a broader industry trend, as major payment entities consistently augment their range of cryptocurrency offerings and services.
In August, PayPal made a declaration about the forthcoming release of its PYUSD stablecoin.
This stablecoin, which is pegged to the dollar, is the product of Paxos, a blockchain infrastructure company previously responsible for issuing the Binance USD (BUSD) stablecoin.
Furthermore, just last month, Coinbase secured regulatory clearance to provide perpetual futures trading services to its non-US based retail clients.