AMC shareholders who self-identified as investors on Investor Connect received a free series 1 “I Own AMC” NFT from the company.
More than 580,000 of these “I Own AMC” NFTs were distributed amongst shareholders early this year.
See more: I own amc nft worth
Many investors have claimed to have not received theirs yet.
I suggest you check your junk mail or search for “AMC Investor Connect Update”.
Let’s get into how the value of NFTs are determined.
How are NFTs valued?
NFTs (non-fungible tokens) are valued based on what the market values it.
Major contributing factors include who the artist is, their reputation, the story behind the NFT, and social currency of the artist/brand.
The “I Own AMC” NFT was created by AMC Entertainment, the largest movie theatre chain in the world.
The story behind this 1 series NFT is an incredible one that depicts retail investors saving the brand from bankruptcy while fighting against injustices in the stock market.
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This series 1 “I Own AMC” NFT is part of a historical battle to squeeze short sellers attacking the company stock to drive the MOASS (mother of all short squeezes).
While AMC recently released Spider-Man No Way Home and ‘The Batman’ NFTs, “I Own AMC” NFTs are a shareholder exclusives.
Being a 1st generation or ‘series 1’ NFT we can expect the value of this NFT to surge as AMC Entertainment releases new series NFTs.
Read: What are NFTs and how will they change the world?
How much are these “I Own AMC” NFTs selling for?
Some investors have already begun to put these assets out into the market.
Many are using eBay as a way to drive attention to the value of the NFT.
Investors are asking anywhere between $500-$9,000 for an “I Own AMC” NFT on eBay.
Few are valuing their asset below $500.
Redditors are encouraging investors not to sell their NFTs as they could be worth a lot more down the road.
The community speculates that these “I Own AMC” NFTS will gain more value once AMC squeezes shorts from their positions.
AMC Entertainment as a company has massively improved every quarter since 2020 and 2021.
The movie theatre chain seated more than 60 million guests in the United States, Europe, and Middle East in Q4 of 2021 alone.
The company also announced it now has a positive EBITDA which provides investors with a snapshot of a company’s financial performance.
Should you sell or keep your AMC NFT?
NFTs are worth selling if your intuition tells you the asset is at its peak.
But if you think one day collectors (especially investors) will be on the hunt for this series 1 “I Own AMC” NFT then it might be worth holding onto.
This is a very special NFT due to the story behind it.
It a piece of time capsulated in this digital asset.
What do you think?
Leave a comment down below.
Related: How to purchase AMC movie tickets online using cryptocurrency