Entertainment service provider, Major Cineplex Group, has just enabled buying tickets with Bitcoin.
The cinema chain revealed it would undertake a pilot chain that will act as a benchmark to launch the complete service. When the option is enabled, crypto-friendly users will be allowed to get their movie tickets by paying from their Bitcoin wallets.
Cineplex seeks crypto-friendly customers
By launching this service, Cineplex will become the first theater in the country to roll out the feature. However, other theaters are not sitting back to watch events play out. About 39 other Cineplex theaters in the country are planning to enable Bitcoin payments before the end of the year.
According to the announcement, the new feature has been launched to enable innovations within the cinema industry.
To enable a smooth launch of the feature, Cineplex has collaborated with payments hub RapidZ and crypto trading platform Zipmex.
The successful launch of the feature in other theaters will increase Bitcoin adoption and offer crypto holders the ease to make payments for movie tickets.
A welcome development for the crypto industry
Narut Jiansanong, the cinema chain’s representative, explained that one of the goals of the pilot is to expand its customer base to clients interested in crypto. He added that about 1 million people in Thailand own Bitcoin. This represents 2% of the adult population of the country, which is a huge market, according to Jiansanong.
Thailand’s financial watchdog recently reviewed its regulations regarding the trading of Bitcoin and cryptocurrencies in the country. The regulator put an income cap for those eligible to trade and invest in crypto assets. This has led to an uproar by the crypto community who feel those with lesser income are denied access to the industry.
So, the decision of Cineplex Group to allow the purchase of movie tickets with Bitcoin will be seen as a positive step for the crypto community in the country.
