There seems to be an on-going trend in ‘adult entertainment subscription’ and cryptocurrency at the moment. One can only hazard a guess that this is down to elements of guilt that are associated with porn and paying for porn subscriptions. Whilst FIAT currencies offer little in the way of modesty when it comes to paying for a porn subscription, cryptocurrencies offer more than just a modest approach, they offer the user total anonymity. Pay with crypto, and you won’t have any rogue XXX looking payments printed onto your bank statement, essentially.
If anything, this acts as a simple reminder of the adaptability of cryptocurrencies. Indeed, Bitcoin was not designed to create an industry fuelling the porn economy, but, it looks to be going that way.
Okay, so porn is a very specific market and therefore, we can’t really refer to mainstream adoption and porn adoption as the same thing. We should note that the most notorious case of the porn x cryptocurrency merge came in April, with the announcement of PornHub (the worlds leading porn website) accepting Verge XVG for subscription payments. This news saw the value of XVG drop, with much of the Verge community hiding away from the shame of being associated with ‘self-pleasure’ to put it bluntly.
Because of this, many expected that Verge would really break into the porn industry and become ‘the porn coin’ however, the PornHub announcement seemed to stop dead, with no new integrations being made outside of the MindGeek portfolio (the company behind PornHub, Brazzers etc).
Since then, even famed Pornstar Stormy Daniel’s is breaking into cryptocurrency payments on her own adult entertainment website.
Now, leading Virtual Reality porn website, VRPorn have started accepting Litecoin payments, in a move that seems to have gotten Charlie Lee quite excited and a in a move that really does slap the Verge team in the face somewhat. Let’s face it, Litecoin have established this with very little fuss, in order to get PornHub on board, Verge had to run a crowd funding campaign and then set sail on a hype crusade, which in turn has proved to be move damaging than effective.
— VRPorn.com (@VRPorn) May 31, 2018
Charlie Lee has commented on the integration of Litecoin on VRPorn, stating:
“Cryptocurrencies and VR are so hot right now!”
Whilst he seems to be seeing this in good humour, it is yet another great move for Litecoin, the Litecoin Foundation and the #PayWithLitecoin movement. Within this, Litecoin are now challenging Verge, as a mainstream currency that sits within the adult entertainment industry. Whilst Litecoin is unlikely to be adopted by PornHub, perhaps this will see more of PornHub’s rivals pop up and ask Litecoin to jump on board.
It might all seem a bit seedy, but this is a huge industry, an industry that holds some great advantages for the crypto-revolution.