BitPay Enables Cryptocurrency Payments for Taylor Swift’s Movie Premiere
Taylor Swift fans who are also crypto enthusiasts can now purchase tickets for the highly anticipated film “Taylor Swift: The Eras Tour” using various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Shiba Inu (SHIB).
The movie, which hits theaters worldwide today, has already amassed an impressive $100 million in presales, setting the stage for a blockbuster premiere.
BitPay, a leading crypto payment service provider, will facilitate the film’s crypto tie-in, the company said in a Friday post on X (formerly Twitter).
🌟 Exciting News for Taylor Swift Fans! 🌟— BitPay (@BitPay) October 12, 2023
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 previously partnered with the theater chain AMC, enabling seamless cryptocurrency payments for movie tickets.
To take advantage of this payment option, fans can visit the AMC website or use the mobile app and select BitPay at checkout.
Alongside Bitcoin, Ethereum, Dogecoin, and Shiba Inu, customers can also purchase tickets with Bitcoin Cash, Litecoin, and XRP.
AMC played a significant role in the “Eras” film’s journey, making a groundbreaking move by negotiating directly with Taylor Swift for the film’s release in its theaters.
By bypassing traditional Hollywood studios involved in film distribution, AMC secured an exclusive deal.
As a result, Swift is set to receive a remarkable 57% of ticket sale revenue, a substantial share rarely seen in the entertainment industry.
The film’s release is expected to inject new life into the struggling movie box office, which has faced challenges due to strikes by the Hollywood writers’ and actors’ guilds.
Since the successful releases of “Barbie” and “Oppenheimer” in July, theater attendance has dwindled significantly.
However, with the buzz surrounding “Eras,” industry insiders are hopeful that it will attract a large audience and revitalize the box office.
If a substantial number of “Eras” ticket buyers opt for crypto payments, it could lead to an intriguing scenario due to the film’s unique distribution setup.
Payment Giants Continue to Adopt Crypto
Last week, crypto payments infrastructure firm MoonPay unveiled a new feature in its app that enables users to swap one cryptocurrency for another.
The new feature expands the functionality of MoonPay’s retail-facing crypto app, which was launched in May and initially allowed users to purchase cryptocurrencies and manage multiple wallets within the app.
MoonPay’s new addition came as payment giants continue to expand their suite of crypto products and services.
Back in August, PayPal announced that it is rolling out its PYUSD stablecoin soon.
The dollar-pegged asset is issued by Paxos, a blockchain infrastructure firm that used to issue Binance USD (BUSD) stablecoin.
Last month, Coinbase also received regulatory approval to offer perpetual futures trading services to retail customers outside the United States.