Regal Cinemas to accept crypto for tickets, concessions
Add Regal Cinemas to the growing list of movie houses that will let you pay with cryptocurrencies.
The chain, which boasts over 7,000 screens in over theaters across the country, has struck a deal with digital payments firm Flexa that will allow patrons to use digital currencies including Bitcoin, Dogecoin, Ethereum and Litecoin. The cryptos can be used for both ticket sales and concession purchases.
The moves comes roughly two months after AMC announced it would let customers pay in Ethereum and Litecoin by end of the year (and three months after AMC began accepting Bitcoin).
“As more of our customers demand digital asset solutions and safer payment methods, we are grateful to have found a partner in Flexa,” said Ken Thewes, chief marketing officer at Regal in a statement. “This exciting partnership enables us to easily and seamlessly accept digital currencies … across our theatre footprint in a simple and completely contactless way, providing our guests with the flexibility and safety they deserve as we embark on a new era.”
Regal will begin accepting crypto payments immediately. And its going all-in on the new method. It will also accept payments made with digital dollars and stablecoins, including USD Coin, Dai and Gemini dollar, as well as digital tokens including LINK, ATOM, and Basic Attention Token (BAT).
It’s another step into the mainstream for cryptocurrencies, but is it a smart one for consumers? That’s a personal decision, but it certainly calls to mind the infamous 2010 Bitcoin pizza incident.
Laszlo Hanyecz, at the time, agreed to pay 10,0000 Bitcoin for two delivered Papa John’s pizzas. It was the first time the crypto was used in a commercial transaction – and it still took Hanyecz four days to get his pies.
Today, of course, those coins would be worth $572.7 million.
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