{"id":147005,"date":"2025-01-29T20:08:22","date_gmt":"2025-01-29T20:08:22","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2025\/01\/29\/moviepass-might-pivot-to-crypto-techcrunch\/"},"modified":"2025-01-29T20:08:22","modified_gmt":"2025-01-29T20:08:22","slug":"moviepass-might-pivot-to-crypto-techcrunch","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2025\/01\/29\/moviepass-might-pivot-to-crypto-techcrunch\/","title":{"rendered":"MoviePass might pivot to crypto | TechCrunch"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"speakable-summary\" class=\"wp-block-paragraph\">After MoviePass\u2019s <a href=\"https:\/\/techcrunch.com\/2025\/01\/08\/former-ceo-of-moviepass-parent-company-pleads-guilty-to-fraud-over-unlimited-plan\/\" target=\"_blank\" rel=\"noopener\">historic implosion<\/a>, subscribers to the \u201cNetflix for movie theaters\u201d were already cautious around the company\u2019s <a href=\"https:\/\/techcrunch.com\/2023\/05\/25\/the-revamped-moviepass-goes-nationwide\/\" target=\"_blank\" rel=\"noopener\">2023 relaunch<\/a>. These moviegoers may grow even more skeptical after MoviePass sent out an email blast on Wednesday, which surveyed customers about their interest in web3.<\/p>\n<p class=\"wp-block-paragraph\">\u201cArtificial Intelligence and\u00a0Blockchain technologies are transforming the business landscape at an unprecedented pace,\u201d the email says. \u201cAs a community-driven company, we\u2019d love to understand your interest and knowledge in the blockchain space.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The survey asks basic questions about the respondent\u2019s familiarity with web3, like if they own any assets like NFTs, or if they have a digital wallet. Customers were also asked whether they believe blockchain technology is promising, and if they\u2019re interested in learning more about it.<\/p>\n<p class=\"wp-block-paragraph\">MoviePass\u2019s possible pivot to web3 didn\u2019t come out of nowhere. When the company relaunched, it <a href=\"https:\/\/variety.com\/2023\/film\/news\/moviepass-relaunch-seed-financing-round-animoca-brands-1235487164\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">raised seed funding<\/a> from Animoca Brands, a Hong Kong-based software company and venture capital firm that specializes in blockchain technology. Last year, MoviePass partnered with the <a href=\"https:\/\/finance.yahoo.com\/news\/moviepass-partners-sui-blockchain-revolutionize-061141639.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sui blockchain<\/a> to allow subscribers to make payments with USDC, a cryptocurrency pegged to the price of the U.S. dollar.<\/p>\n<p class=\"wp-block-paragraph\">At the time, MoviePass co-founder Stacy Spikes <a href=\"https:\/\/finance.yahoo.com\/news\/moviepass-partners-sui-blockchain-revolutionize-061141639.html\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a> that MoviePass intended to use web3 as a means of \u201cmaking moviegoing more accessible and able to reach a wider audience through deeper fan engagement.\u201d The company said it was looking toward offering on-chain rewards for seeing movies, or allowing users to invest in the movies they see (there are no further details about how that would actually work).<\/p>\n<p class=\"wp-block-paragraph\">It\u2019s not clear whether fans want these on-chain bonuses, though, or whether that sort of blockchain infrastructure would even help the company succeed. In some cases, adding crypto elements to a company that functions perfectly fine without it can alienate users rather than entice them. Patreon also once <a href=\"https:\/\/techcrunch.com\/2021\/10\/29\/patreon-confirms-its-exploring-crypto-as-a-way-for-creators-to-make-money\/\" target=\"_blank\" rel=\"noopener\">surveyed its users<\/a> about their interest in crypto, but the creator membership platform was met with <a href=\"https:\/\/techcrunch.com\/2022\/05\/04\/patreon-creator-census-crypto\/\" target=\"_blank\" rel=\"noopener\">a clear no.<\/a><\/p>\n<p class=\"wp-block-paragraph\">Without adding in a web3 component, the new-and-improved MoviePass already turned its <a href=\"https:\/\/www.inc.com\/ben-sherry\/how-moviepass-finally-became-profitable.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">first-ever profit<\/a> in 2023.<\/p>\n<p class=\"wp-block-paragraph\">While the first version of MoviePass was impossibly unsustainable \u2014 subscribers could see unlimited movies in theaters for just $10, less than the cost of one movie ticket \u2014 the new iteration of MoviePass makes a more modest offer. Now MoviePass operates on a somewhat confusing credits system, where each movie showing can be redeemed for a certain number of credits, which fluctuates depending on the time of day and the format of the screening (IMAX, 3D, etc.). For subscribers who live in places where movie tickets cost more, like New York City or Los Angeles, their monthly fee will be higher.<\/p>\n<p class=\"wp-block-paragraph\">Last February, MoviePass announced that subscribers had seen 1 million movies through its offerings, but it did not specify how many subscribers it has.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/techcrunch.com\/2025\/01\/29\/moviepass-might-pivot-to-crypto\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After MoviePass\u2019s historic implosion, subscribers to the \u201cNetflix for movie theaters\u201d were already cautious around the company\u2019s 2023 relaunch. These moviegoers may grow even more skeptical after MoviePass sent out an email blast on Wednesday, which surveyed customers about their interest in web3. \u201cArtificial Intelligence and\u00a0Blockchain technologies are transforming the business landscape at an unprecedented [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":147006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-147005","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/147005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=147005"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/147005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/147006"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=147005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=147005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=147005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}