Cryptocurrencies are a natural fit for the adult industry for features like censorship resistance and fast settlements. Several adult websites have started accepting Cryptocurrencies for payments.
Adult industry startup Intimate is enabling over 60 adult websites to add Cryptocurrency payments gateway in the first half of 2019. The Australian startup will enable the sites to accept various Cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB) and its own native token ITM.
Intimate has already signed partnerships with 47 adult websites and organizations including Eros, Sexpo, ClubX, Rendevu among other adult dating, escort and cameo sites. The company is also participating in many international events including Xbiz awards.
CEO of Intimate Reuben Coppa told Crypto media outlet, Micky, that they expect to sign up “15 to 20 more partners off these latest events.” The company’s first payment gateway will go live for smilmakerscollection.com on January 31st.
Last year the famous porn site Pornhub started accepting Cryptocurrencies like Verge (XVG), Tron (TRX), and Horizen (ZEN) but failed to gain much traction. But the need for privacy, censorship resistance, and lower fee transactions are still high in the adult industry.
Reuben also believes that free content has undermined the adult industry, he believes that people will pay for porn and streaming services in the future like people paying for music and movies today.
“Once crypto payments become standard – and on cam sites users are used to paying with tokens – people will pay for content and the content will get better,”
Many of the content creators are facing problems in monetizing their content. Cryptocurrencies could be ideal for micropayments which could potentially solve this problem, but as of today, Crypto has issues like scalability, volatility and bad user experience slowing mainstream adoption. But we believe it is just a matter of time before these problems are solved.
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