After a lot of FUD, excitement a rollercoaster of a ride in terms of price, Verge (XVG) and Pornhub announced their partnership, which will see the adult entertainment website accept the privacy-centric XVG token as a payment method.
While most in the community were expecting a major payment processing company, such as Global Payments, the Pornhub (Mindgeek) partnership did take most by surprise.
Following the announcement we saw a massive price drop as investors and traders dumped XVG, but the price managed to stabilize soon and even recover as online discussions seemed to highlight the potential benefits of the partnership.
Commenting on the development, Litecoin creator Charlie Lee appreciated it, but asked Pornhub to start accepting ‘real’ cryptocurrencies like “BTC, LTC and XMR”.
However, he also went on to criticize the precedent of having to buy a partner, as XVG did, by raising 75 million tokens, the majority of which were contributed by TokenPay.
“I think having more places to spend crypto is good. But I do hope they accept more than just Verge. It's quite hard for people to get XVG just to spend on PornHub. It's a step forward, but having to buy a partner is not a good precedent. Merchants shouldn't need to be bribed…”
The CEO of TokenPay, Derek Capo also commented on Charlie’s Tweet, calling him out for ‘shilling LTC’ to Pornhub.
“...why you trying to shill $LTC to be 2nd coin on Pornhub? Did you even participate on the @vergecurrency crowd funding campaign. We donated 66.5mm $XVG to make it happen. What did you do? Zero! Get in line ;)”
While the initial reaction was a price drop, as is common with crypto news announcements, many in the community are also lauding the Verge team, notably the lead developer, for signing on a real-world partner with a real crypto use case. Now it remains to be seen how far this partnership takes Verge and what it means for the crypto space as a whole.
This article appeared first on Cryptovest
