The legendary men's adult entertainment magazine Playboy is hoping to restore its relevancy by jumping on the cryptocurrency bandwagon. In it's hey day Playboy was an elite, international brand that paved the way for adult entertainment and the sexual revolution. Due to the change of distribution medium from paper magazines to digital content, as well as the death of its founder and figurehead, Hugh Hefner, Playboy has seen a decline in relevancy and sales.
Not wanting to be left behind for the second time, Playboy has announced they will be joining the ranks of companies that will begin accepting cryptocurrencies for payments. The company has plans to develop an online payment wallet that will eventually accept several different currencies, starting with the Vice Industry Token (VIT).
Vice Industry Token - The Vice Industry Token represents a profound change in the broadcast and on-demand video entertainment industry. It functions as two things; a video entertainment platform where viewers can watch videos, and as a cryptocurrency where anybody who participates (in viewing, adding, or curating content) will get paid with VIT's proprietary cryptocurrency.
“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,” said Reena Patel, COO of licensing and media at Playboy.
“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.”
People have always been more on the private side when it comes to their adult content habits and cryptocurrencies will help users enjoy their smut in anonymity and keep off the bank statements. The Playboy wallet is scheduled to release by the end of the year.
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