Playboy Set To Launch Its Very Own Cryptocurrency Wallet Service

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There are several publications that have left a mark on history over the years – Playboy is certainly one of them. An absolute lightning rod for controversy, the original “American men’s lifestyle and entertainment magazine” built its reputation through its nude pictorials. At one point in time, it sold a staggering 7,161,561 copies of a single issue – the November 1972 edition if you’re interested in looking it up. What’s helped Playboy stay relevant throughout the years is its ability to embrace change, both social and technological. From its jump into the digital space to its change in editorial tone, Playboy isn’t afraid to bend to new trends. Taking another step into the future for the famous “lifestyle” magazine, Playboy is set to launch its very own cryptocurrency wallet.

Blockchain meets bunnies

According to a post made via Playboy’s official website, Playboy Enterprises are in the process of developing a brand-specific cryptocurrency wallet. The wallet – which doesn’t have an official launch date as of yet – will let customers use cryptos to pay for the company’s online content. The first arm of Playboy’s business to work with the new the cryptocurrency wallet will be Playboy.TV. The online adult TV channel will allow viewers to make payments for services using cryptos.

Vice over virtue

Playboy launching a cryptocurrency wallet with mature content in mind has certainly raised a few eyebrows. But, it’s probably the anticipated acceptance of Vice Industry Token (VIT) that’s stirring up the most controversy. VIT is a coin targeted directly at the adult entertainment and sex worker industries, with it raising $22 million in ETH during the first day of its ICO. Playboy.TV’s use of VIT is designed to give customers the option to earn and use coins to pay for additional on-demand video, along with the chance to comment and vote on future content.
Playboy’s decision to accept VIT comes about through customer demand for more flexible payment options. Reena Patel (Playboy Enterprises CCO and Head of Operations) 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.”
Vice Industry – the team behind VIT – praised Playboy’s decision to start accepting the controversial token. The official Vice Industry Twitter account issued a statement on what Playboy’s acknowledgment means for VIT, “@ViceToken – VIT is proud to announce @PlayboyTV integration with VIT tokens. By integrating with #VIT, visitors will be able to pay and earn tokens to view original content, #Crypto #Blockchain #Crowdsale #Playboy #ViceIndustryToken”.

What happens in Vegas…

This certainly isn’t the first time that the cryptocurrency market and adult entertainment industry have intertwined. Recently, the famous Bunny Ranch brothel in Mound House, Nevada said that it was “exploring” the possibility of adding Bitcoin as a payment option. Dennis Hof (Bunny Ranch Owner and Founder) said, “We have some of the richest men in the world coming in and out of my brothels. Our high dollar clientele is accustomed to getting anything they want here, so when I started hearing requests from them to look into accepting bitcoin, I took those suggestions very seriously.”

BitPay takes a stand

It’s safe to say that all the talk regarding cryptocurrency and the adult entertainment sector hasn’t been warmly received by everyone. Taking what it perceives to be as a stand against explicit content, BitPay announced during its February terms and conditions update that it would ban explicit content. This led to one particular pornstar and sexual content provider – Saffron – saying that she would be closing her BitPay account in protest.

Bitcoin, brothels, and Playboy!

The use of cryptocurrency to purchase adult content is always going to be controversial. However, Playboy’s household name status could go a long way to change that. It’s likely to find a few detractors in its early days, but with it being a standalone wallet, it should lend legitimacy to ICOs like VIT that are specifically created for the adult entertainment and sex worker industries. Whether you agree with Playboy’s cryptocurrency wallet plans or not, you can’t argue against the fact that it’ll likely find an eager user base.