The adult entertainment industry continues to embrace cryptocurrency and its underlying blockchain technology as it incentivizes users to continue to consume content and offers payments via traceless digital coins. (See also: Japanese Bank to Offer Blockchain Payments in 2020.)
On Friday, porn star Stormy Daniels announced a new partnership with the Vice Industry Token (VIT) to reward site visitors for viewing content with digital tokens. The adult-film actress, who gained recent fame for her legal battle with President Donald Trump regarding claims to have had an affair with the reality TV star back in 2006, will add the cryptocurrency to her website.
VIT, which was created specifically for the porn industry, will accumulate on users' accounts as they consume content, and can be used to buy premium content or be transferred to other sites that support the token for their services.
Adult Entertainment Industry Champions Adoption of Crypto Payments
"With VIT, everyone is going to make money—from the users on my sites, to myself and the performers. The way the VIT blockchain works, we all get a piece of the token, and the guaranteed genuine data is the icing in the cake," stated Rob Murray, the president of Darkreach Communications, the firm managing Daniels' personal site. Darkreach indicated in a press release that it will roll out VIT incentives on 20-plus other adult websites, calling the move a "no brainer."
Earlier this, year porn industry giant Mindgeek, the owner of websites Pornhub and Brazzers, announced that it would accept payments in the form of digital coin verge (XVG) for its premium subscriptions. The news was seen as a major win for cryptocurrencies, as the global organization reaches nearly 100 million daily users. "History has proven that the adult entertainment industry plays a critical role in adoption for innovative technology. We saw that with VHS, Betamax, credit card payment icons and, most recently, VR goggles. We expect to see widespread adoption of crypto and blockchain in short order," said Pornhub VP Corey Price upon the deal's announcement.
The anonymity of cryptocurrency payments is key for the porn industry, where both privacy and convenance are important to consumers. (See also: Pornhub Partnership Ups Verge Cryptocurrency Price.)