“Porn, Paying For It” – The adult industry employs thousands of people, from the developers who create the platforms, the back-office who hire, book and cast models and the sex performers themselves. There are many unsung people and considerable costs to create, edit and host the content that views enjoy.
The virtual reality VR world is more complex and costly to create content, all of these things are what you the consumer are funding with subscriptions and downloads. A big slice of what a subscriber pays is paid to the merchant for the payment you make, in fact, some of the highest fees are paid by the adult entertainment sector. The sector includes the porn platforms and the live webcam operators. But payment is evolving, we have seen an evolution, now we are looking at a revolution.
There are five coins of note, but there remains much of a journey to walk first. Bitcoin Core BTC, the most well-known cryptocurrency, is expensive to process and unfortunately, whereas it is much coveted by speculators, the currency is slow to transact on the blockchain.
The more rapid and in some quarters less desired is Bitcoin Cash BCH, a coin resulting from a hard fork. Bitcoin Cash is fast and lower cost for payment making it ideal and highly suitable for instantaneous payment for many business models including adult content platforms and VR porn. Let’s explore tokenised Crypto Coins.
- SpankChain – SpankyPay
SpankChain is a cryptocurrency processor using the Ethereum (ETH), blockchain. The aim of this emergent currency is to establish an infrastructure and economic environment for the adult industry. As a tokenised world emerges, we see much scope for developing privacy, security and even a self-sovereign identity.
Founder and visionary Ameen Soleimani certainly sees the challenges and seeks to address them. SpankChain recently partnered with Justfor.Fans, a new gTLD, (Top Level Domain). It remains to be seen how SpankyPay will see adoption for the porn sector but unquestionably there is a need for payment tokenised solutions. - BitCCi
An important economic space has emerged in Switzerland and the tiny state of Lichtenstein, for the crypto world this is often referred to as crypto valley. BitCCi Group AG, founded by Christoph Elbert in 2017 aim to build a new global ecosystem for the adult industry.
Clearly, the company see many areas whereby various solutions can be enhanced and BitCC the cryptocurrency of the venture is focused on use for platforms, apps and other parts of the technical and payment landscape. As we move into 2022, keep an eye on BitCC. - WankCoin
What a great name for a cryptocurrency token. The aim as others in this space is to power payment transactions with an emphasis on anonymous payments. The token is accepted for payment on more than 100 adult entertainment platforms and is built on ETH Ethereum.
The aspect of anonymity is fundamental in a changing world where de-platforming and search engines are all-powerful. We see a vision with WankCoin to enable end-users to protect their privacy, a commendable objective in this day and age. - (BTAD) Bitcoin Adult
Bitcoin Adult is a very interesting arrival in the cryptocurrency space. Imagine that you could “earn while you watch”. This proof-of-stake community-powered venture is impressive.
BTAD uses Master Nodes for network security, the token is scalable and offers a real perspective alternative to Bitcoin. Overall, the token has been birthed without an ICO, it offers another solution for platform payment and is worthy of watching the business case evolve. - PornVisory
The PornVisory vision is highly interesting, being DAO, a de-centralised organisation standard, we see a flexible and collaborative approach to payment for porn. There is a different feature in addition with PornVisory as the name might suggest, offering reviews and recommendations for videos and news.
The anonymous agenda is also central to PornVisory, fundamentally important for users and sure to become increasingly so. By leveraging (BAT), Basic Attention Token, much like the browser format, users earn BAT for time spent on sites, thus we see a very different world emerging.
Wrapping-up & Takeaways
The adult porn industry beyond entertaining people is unquestionably an interesting economic space and well respected as a place of innovation and evolution. Payment is the essential element in the sustainability of many thousands of people worldwide who bring to users in a wide range of ways content they desire.
Virtual Reality, as a very fast-growing delivery format, speed and privacy are fundamental concerns for consumers and we see that the crypto blockchain has embraced the challenge. Although there is no certainty and we offer no recommendation in any token or solution, it seems only wise to hold a generously optimistic welcome. Time will tell, the future is porn and powering payment plays an important part in that future.
