MoviePass wants to know if it should be included in Crypto

MoviePass, which It was re -launched in 2023He wants to measure members’ interest in Blockchain technology and how it can be combined into service. The subscription company in the theater sent an email on Wednesday that wipes customers on the Web3, which is the concept of granting individuals ownership of their digital information by storing it on the Professor’s book (Blockchain) as they only have controlling its use.

It is not clear how Blockchain will be useful for service that works mainly as Netflix for movie tickets. But MoviePass collected money to re -launch from a software specialized software company, and the founder of MoviePass State Spikes He said in late 2022 We can web3 “[make] Cinema is easier and capable of reaching a wider audience by sharing deeper than fans. “

One of the ideas that were put forward at that time allowed MoviePass members to watch ads in their application in order to earn more credits stored in a virtual portfolio that can be used to see more films, although it is not clear because of the need for Blockchain. Another suggestion is that users can earn a kind of rewards to watch a movie, such as NFT (i.e. a memorial film still) that lives on Blockchain. If we are charity, this loyalty may be generated between members by allowing them to obtain exclusive digital holdings. More sarcastically it seems that Spikes takes the money it can get and may not be sincerely at the web3 angle. Attention to digital holdings Evaporate Since the epidemic.

The entire MoviePass story looks like it had passed a while ago, but Ted Varinsworth, CEO of the former MoviePass only, was not only early this month. I condemn the fraud.

MoviePass was launched in 2011, but it exploded in popularity in 2018 after that, led by Varinsworth’s desire to grow at any cost, to impose fees on customers only $ 10 per month to watch unlimited films in theaters. Nobody was foolish enough to believe that the business model had any meaning-even that Farnsworth and his consumer participating at that time, Mitch Louis, announced that he would be profitable through ways such as selling customer data. When the company was burned by millions of dollars that are paying for full price tickets, the government claims that MoviePass stopped its application to members to try to avoid losses before closing in 2019. Securities fraud and three charges of fraud wires for misleading investors about the feasibility of work. Louis admitted that he was guilty last September.

After bankruptcy and re-launch under the nails, the new MoviePass allows customers to see much fewer films-a basic plan for $ 10 per month allowing a 1-3 per month. The allocated credits are allocated to the organs, as film tickets differ in the price depending on the time of the day and the examination of the examination. In the end, members can pay $ 30 to watch nearly 3-5 movies per month. Perhaps it is a good deal, but the major theater chains including AMC today have good similar programs, if not better. Theaters have the power of pricing, not MoviePass.

MoviePass should be removed from its misery at this stage. Web3 and Crypto have not been adopted by the main current of anything other than speculative gambling, and in the context of a service like MoviePass, it seems to be an unnecessary attempt to capture some renewed optimism in the industry brought by the new Trump administration. Some things have a moment and it is good to know when it is time to go forward.

If you haven’t seen it already, then the documentary.MoviePass, MoviecrashIn the maximum documents, the entire Rollercoasster ride that was the first operation of MoviePass.

https://www.youtube.com/watch?