Playboy Launching Own Cryptocurrency Program to Tie-up with Exclusive Contents

Mar 16, 2018 at 13:02

Adult entertainment giant, Playboy Enterprises, Inc. is set to launch its own cryptocurrency program as part of an online payment wallet that it is developing to service its digital media and casual gaming businesses.

The firm expressed that among the first platforms that will utilize the new digital wallet will be Playboy.TV and will accept Playboy’s Vice Industry Token (VIT) for access to exclusive content.

The company noted that customers will have to pay and earn VIT tokens to view original content and will also enable them to comment and vote for content. The decentralized token is undergoing a crowdsale that will end on March 20.

“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,” Reena Patel, Playboy’s chief commercial officer and head of operations, said in a statement.

He also mentioned that aside from exclusive content, the company’s casual gaming, AR and VR platforms will accept VIT payments as it aims to reward subscribers with unique offers from the brand.

Patel explained that VIT will also reward viewers for watching content and has an advantage over other cryptocurrencies for its ability to serve both as a medium of exchange and as a tool for capturing viewer engagement data.

Its engagement optimization tools also permit content producers to tailor content to the preference of individual users.

Likewise, VIT also partnered with Penthouse, Extras, Playmen, RedHot TV, SkineMaxHD and other adult content providers.