The adult industry often makes or breaks technology. It helped spur the rise of the internet, the DVD, VHS before it, and next, is cryptocurrency. Playboy, one of the most well-known men’s lifestyle brands in the world - a brand that made many centerfolds into household names and has a presence in every form of media - is developing a cryptocurrency wallet.
An announcement on Thursday made via the Vice Industry Token (VIT) twitter account, says that Playboy Enterprises will develop a wallet to enable payments via VIT as well as other cryptocurrencies, to pay for Playboy.TV services. The announcement also states that viewers will be able to “earn” tokens as well for commenting and voting on content, among other things.
On the official VIT website it explains that by integrating VIT into Playboy’s platforms, content creators and curators comprising Playboy’s 100 million subscribers can be rewarded with the token. Stuart Duncan, CEO of Vice Industry Token had this to say about the development:
“By using VIT, Playboy will have a transformational effect on the industry as a whole, a crypto-revolution that we started, bringing together other top tier iconic and international mainstream and adult entertainment brands. The fact that Playboy has decided to adopt the VIT protocol and will be using the token to power its flagship video portal, Playboy.TV, demonstrates exactly the confidence that exists in the game-changing Vice Industry Token project.”
Bill Heilmann, Chief Strategy Officer for VIT added:
“As the popularity of alternative payment methods continues to grow around the world, along with the reach of Playboy’s digital platforms, we are ecstatic that Playboy felt it was important to give their 100 million monthly consumers increased payment flexibility.”
On Playboy’s website, a press release confirms the announcement, with Reena Patel, Chief Commercial Officer and Head of Operations for Playboy Enterprises, Inc. adding:
“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.”
Playboy says that the new crypto wallet will be available before the end of 2018, and plans to integrate cryptocurrency into its gaming, augmented reality, and virtual reality initiatives.