News Summary

MoviePass, the movie theater subscription service, is exploring a pivot towards blockchain technology through a partnership with the Sui Foundation. This collaboration will enable MoviePass users to make subscription payments using Circle’s USDC stablecoin on Sui’s layer-1 network. The move is part of MoviePass’s broader strategy to integrate web3 technologies, following its relaunch with seed funding from Animoca Brands, a firm specializing in blockchain ventures. Despite its past challenges, MoviePass has successfully transitioned to a credit-based system and reported turning a profit in 2023. The integration with Sui’s network is expected to roll out soon, with additional blockchain-based features anticipated in the future.