The Sui Foundation has partnered with MoviePass, the subscription-based movie ticketing service in the United States, to adopt USDC payments. This new integration will enable MoviePass subscribers to purchase their subscription using USDC, a stablecoin tied to the U. S. dollar.
The blockchain platform Sui will soon allow MoviePass and other apps in its ecosystem to accept USDC soon. This move is expected to ensure that MoviePass users have a safer and more flexible payment method. Sui will also purchase equity stakes in MoviePass as a sign of its belief in the firm’s growth potential.
MoviePass CEO Stacy Spikes, said, “Web3 is key to making moviegoing more accessible, and enabling it to reach a wider audience through deeper fan engagement and rewarding them through digital assets that can turn into physical value.”
MoviePass, which previously had an unlimited movie viewing plan for $9.99 a month, it currently uses a credit-based model. The company has been keen on innovation and technology, which is evident from this partnership with Sui.
USDC is one such stablecoin that is less volatile than traditional cryptocurrencies, as they have a fixed value. This partnership not only improves payment options but also opens up possibilities for further innovations such as fan staking and NFTs.
MoviePass is set on using this Web3 integration to enhance fan interaction, whereby consumers can fund movies directly and get incentives. Web3 technology will revolutionize the movie-watching experience as seen by MoviePass CEO Stacy Spikes.
This partnership strengthens MoviePass’s innovation by embracing blockchain technology, offering users a modern payment option. Sui’s investment shows confidence in MoviePass’s long-term success.
