Playboy to Play Crypto Card
Playboy Enterprises, an adult lifestyle and entertainment company, announced that they would be developing and integrating an online payment system that will support a wide range of cryptocurrencies. These will be used to pay for accessing adult content, exclusives, and augmented reality (AR) and virtual reality (VR) initiatives in the future.
The firm plans to introduce cryptocurrency payments for its online services starting with its Playboy TV subsidiary, which will enable the online platform to accept Vice Industry Token (VIT), among others.
Vice Industry Token, Inc. is a decentralized blockchain platform and cryptographic token for the Vice Industry that allows producers to more efficiently monetize their content by rewarding viewers just for watching content, according to their website.
By using cryptos to pay for exclusive adult content, customers will be able to “earn tokens to view Playboy.TV’s original content, as well as comment on and vote for content.”
Reena Patel, Chief Commercial Officer and Head of Operations for Playboy, said in the press release, “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.”
This is not the first venture Playboy had into crypto adoption. Playboy Plus started accepting BTC payments back in February of 2014.
Founded in 1953 by Hugh Hefner, Playboy is headquartered in Beverly Hills, California. The company publishes magazines, websites, owns television and radio worldwide.