Playboy Plans to Add a New FinTech Payment Option – Cryptocurrency

A new financial technology payment alternative is currently being designed and tested for the major adult entertainment company on the financial market. Playboy TV aims to give its customers an opportunity to pay for adult content with cryptocurrencies.

“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,” reported Reena Patel, Chief Operations Officer, Licensing and Media for Playboy Enterprises, Inc.

The American media company informed in an announcement on Thursday, March 15, that it has been preparing for a launch of a digital wallet by the end of this year. At first, the company will only accept a cryptocoin called the Vice Industry Token (VIT). The virtual coin is currently being traded on the cryptocurrency market via an ICO closing next Tuesday. Names of the other digital currencies to be applied later have not been mentioned.  

VIT stated in its white paper that it is also focused on adult content and implements a device for tracking user engagement on adult channels, by applying Blockchain.  

In its release, Playboy TV said users can view, comment on and vote for original content using VITs on its channel. Besides, the company revealed its intention to install cryptocurrency in its casual gaming, AR, and VR initiatives someday.