Playboy is the undisputed leader in adult entertainment content. The iconic brand has been around for 64 years and is one of the pioneers in this industry. For years, the company has offered a number of unique offerings and interesting innovations in the adult content industry. Playboy Enterprises now leads the industry towards the cryptocurrency revolution as Playboy now accepts cryptocurrency payments.
On Wednesday, Playboy Enterprises officially announced that they are setting up an online cryptocurrency wallet which will allow users to make cryptocurrency payments using different kinds of cryptocurrencies. The Vice Industry Token (VIT) would be the first such cryptocurrency token to be accepted by the Playboy platform. The VIT token is currently in its ICO phase - which is all set to end this week. This announcement comes just before the ICO ends and is certain to give a boost to the funds VIT manages to raise.
Using these VIT payment tokens, users would be able to pay for exclusive adult content on Playboy TV. Playboy Enterprises have stated that other leading tokens are likely to follow, however these tokens have not been named. While these tokens would be accepted for video content on Playboy TV, their iconic Playboy Magazine does not provide any such payment option yet.
"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, Chief Commercial Officer and Head of Operations for Playboy Enterprises, Inc.
Interestingly, she also points out that Playboy plans to introduce these payment options to other forms of entertainment content, such as gaming, AR and VR as well. However, there is some time before this actually happens. "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."
No dates and deadlines have been publicly declared at the moment, but it is expected that this online payments wallet would be up and running before 2018 ends. Interestingly, this isn’t Playboy’s first cryptocurrency venture, as the company has been accepting cryptocurrency payments for other offerings such as Playboy Plus since as early as February 2014!
Playboy, which started off with their magazine has been aggressively moving towards the digital media. When the magazine started off, adult content was hard to get hands on and magazines like these were pretty much the only options. However, now that adult content can be easily found for free on the internet, Playboy has been adapting new strategies to make users pay up. This includes their magazines no longer publishing any naked photographs, among various other digital exclusives, as well as innovative content such as AR and VR based videos.