Sui and MoviePass team up for USDC integration

The Sui Foundation has announced a new partnership with US-based movie subscription service MoviePass.

According to a press release shared with Crypto.news, the partnership will allow MoviePass users to pay for their subscriptions with USDC (USDC), a widely used stablecoin. Sui (SUI), a blockchain platform, will soon integrate USDC into its ecosystem, enabling payments for MoviePass subscriptions and other Sui applications.

As part of the deal, Sui will also purchase equity in MoviePass, demonstrating his confidence in the platform’s potential.

Originally known for its $9.99 monthly unlimited-watching plan, MoviePass now offers its users a credit-based system, and the platform is refocusing on innovation and technology, as evidenced by this partnership.

For those unfamiliar with blockchain or stablecoins like USDC, the technology allows for more secure and transparent transactions. Unlike traditional currencies, stablecoins are digital assets that are pegged to a fixed value, like the US dollar, making them less volatile than other cryptocurrencies like Bitcoin (BTC).

By introducing these payment options, MoviePass aims to provide its users with more flexible and secure payment methods.

Crypto meets moviegoers

The partnership also promises to increase fan engagement. Future developments include fan equity, where users can support movies by investing directly in them. MoviePass also plans to offer on-chain rewards and opportunities to purchase digital collectibles for users who engage with the platform, according to the announcement.

This is part of the larger Web3 movement, where digital assets are increasingly becoming a part of everyday interactions like watching movies or participating in fan communities. MoviePass sees this partnership as a way to reach a global moviegoing audience.

MoviePass CEO Stacy Spikes said Web3, the next phase of the internet built on blockchain technology, is crucial to expanding the movie experience. Fans will not only watch movies, but also actively participate in the creative process by supporting them and earning rewards.

“Web3 is the key to making moviegoing more accessible and reaching a broader audience through deeper fan engagement and rewarding them with digital assets that can translate into physical value.”

Stacy Spikes