Seeking to capitalize on the opportunities of the crypto world, men’s lifestyle entertainment icon Playboy is entering the space.
On today, the multifaceted media company announced that it is developing an online payment wallet that will support a number of cryptocurrencies across the company's online media, digital and casual gaming businesses.
Let’s get right to what this enterprise is doing.
Getting in on the action
Playboy Enterprises is best known for publishing Playboy magazine in the U.S and licenses foreign editions of Playboy. It operates Playboy.com, a leading lifestyle, and entertainment site; and creates content for distribution via television networks, websites, mobile platforms, and radio.
With all those many media arms, the company saw the crypto space as good for business.
However, it’s Playboy.TV that the company sees as benefiting the most from cryptos.
In a press release, its chief commercial officer, Reena Patel:
"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."
How they’ll get it done
Playboy is tapping a decentralized Blockchain platform called Vice Industry Token (VIT).
It will initially be rolled out for its Playboy.TV. This will allow the online platform to accept tokens from viewers so that they can watch adult content.
By integrating with VIT, Playboy states that visitors will not only be able to pay and earn tokens to view Playboy.TV's pornographic content, but they’ll also be able to comment on and vote for content.
In unveiling this offering, the company states that other leading cryptocurrency tokens will be accepted so that viewers can access Playboy’s exclusive content.
"This 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 with regard to payment and in the case of VIT, an opportunity to be rewarded for engaging with Playboy offerings."
The beauty of cryptos
Given this is adult porn, people shy away from entering their personal identification information to watch it. This is where the beauty of cryptos comes into play - anonymity.
Forbes weighed in on the disruptive nature Playboy’s effort could have on the space by stating:
This technology could not only disrupt the adult entertainment industry, but it could also change the way consumers interact with all forms of content online. By offering rewards and payments for consuming and engaging with content, users can theoretically get paid to read articles, binge watch their favorite TV show or like and comment on a variety of posts.
The new digital wallet is expected to be available before the end of the year. The company also has plans to integrate cryptocurrency to its casual gaming, AR and VR initiatives in the future.
This article appeared first on Cryptovest
