Playboy Launches Crypto Wallet With a New Vice Industry Token (VIT)
The media mogul of the adult-industry - Playboy Enterprise Inc, on March 14, officially announced to venture in the digital currency space by launching a new online payment wallet in order to accept payments in cryptocurrencies for all of the company’s online business services like digital media and casual gaming.
The first Playboy platform in order to integrate the payments wallet will be Playboy TV. Reena Patel, chief commercial officer and head of operations said that the company’s entry in the crypto space will provide “increased payment flexibility” to its customers. She said: “As the popularity of alternative payment methods continues to grow around the world, along with the reach Playboy’s digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility.”
In addition to this, the official announcement also mentions a special launch of the Vice Industry Token (VIT) which is basically an adult industry-focused token with some impressive list of network partners like Penthouse and Playboy.
As mentioned in its whitepaper, VIT’s network ledger in addition to recording crypto transactions will also measure user interaction with videos as well as content engagement. This will help the company understand user’s demands in a better way. Additionally, the network will also reward its users for engaging in content interaction through votes and comments.
The VIT whitepaper also mentions that “VIT has an advantage over cryptocurrencies such as bitcoin because it serves as both as a medium of exchange and as a tool for capturing viewer engagement data in a single token.”
Reena Patel said: "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.”
The digital currency payment wallet will be made available by the end of the year. However, no details are currently available as to which cryptocurrencies Playboy will be accepting.