Playboy to Release Its Own Cryptocurrency Wallet
From tea and juice companies, to vaping houses and even a “camera king” like Kodak, it seems like every enterprise is looking to get a little taste of the crypto action. Now, Playboy is being added to the list as the latest company to begin working on a cryptocurrency project. How serious are they all really?
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From Playboy Bunny to Playboy ‘Money’
The adult entertainment empire is currently building a digital currency wallet that it hopes will be complete by the end of 2018. Users will be able to download the wallet and use cryptocurrency to pay for “adult content” and “casual games.”
In a press release, chief commercial officer and head of operations Reena Patel explained:
“As the popularity of alternative payment methods continues to grow around the world, along with the reach of Playboy’s digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility.”
One Coin in Particular…
Among the cryptocurrencies Playboy is slated to accept is Vice Industry Token (VIT), a decentralized asset that monetizes adult videos while “rewarding viewers” for watching them. As the name suggests, it’s geared towards more adult forms of entertainment.
“The innovation gives the millions of people who enjoy our content, as well as those in the future who participate in our casual gaming, AR and VR platforms, more choices for payments,” Patel said of the benefits behind digital currencies. “And in the case of VIT, an opportunity to be rewarded for engaging with Playboy offerings.”
People who watch Playboy.TV will have the opportunity to earn tokens by viewing, commenting and then voting on Playboy’s newest original content. They can use those tokens to pay for future programs.
VIT was launched earlier this year. The token managed to accumulate over $22 million USD within a 24-hour period in February alone.
Slow and Steady Wins the Race?
Though it runs through predominantly decentralized networks and often promises anonymity, cryptocurrency has not been welcomed by most companies featuring adult content. Some, like Wicked Pictures, have toyed with the idea of introducing it to customers over the years, though very few have implemented the necessary plans, but some sources feel Playboy’s integration of VIT could change this.
For now, Playboy representatives state that the process behind incorporating cryptocurrency will be incremental. Things will ultimately start out slow, but the project could get bigger and the payment scope could become wider should digital currency prove popular among customers.
Is Playboy smart to jump on the crypto bandwagon? Post your comments below.
Images via Playboy, VIT