August 20, 2018 02:28:26
Adult entertainment streaming website Tube8, owned Pornhub’s parent company MindGeek, has partnered with crypto and blockchain provider Vice Industry Token (VIT) to tokenize its platform and reward content viewers with digital currency.
According to Tube8 spokesperson Robin Turner, both companies aim “to [expand] their user bases and [increase] engagement with their respective products through [this] collaboration.” He added that the move represents “a paradigm shift” in the way people consume adult entertainment.
“For as long as I can remember, getting paid to watch porn was always a pipedream; one that was always dreamed about, but never fully realized,”
Turner told Hard Fork.
He further revealed that there would be no extra charge or fees associated with using VIT’s crypto tokens. And while it is still unclear how the tokenized system would calculate rewards, odds are that it would involve certain limits to prevent users from exploiting the platform for large profits.
Tube8’s tokenization project may face scalability problems, as VIT is an ERC20 token based on the Ethereum blockchain, which presently can handle just about 15 transactions per second. With Tube8’s 10 million registered users and 150 million monthly visits, the site has to run the crypto reward system on a centralized server in order to handle the traffic.
Vice Industry Token has already announced plans to migrate to a forked version of the Steem blockchain called Graphene, which can handle around 100,000 transactions per second.
“VIT’s blockchain, based on Graphene, can indeed handle the number of transactions required with no fee, unlike Ethereum. VIT uses DPoS [Delegated Proof-of-Stake] and is fully decentralized. It is the only true working fork of Steem in existence,” Turner stated.
However, VIT still operates on the ERC20 protocol. Back in July, the company’s CEO, Stuart Duncan, stated, “Everyone needs to understand there are a lot of moving parts to get Graphene as a software fork of Steem to run our platforms.”
Tube8 is joining industry peers Stormy Daniels and Playboy TV, which have already jumped on the digital assets bandwagon, in offering crypto rewards to users. In fact, the latter is suing Vice Industry Token’s owner, Global Blockchain Technologies, for failing to live up to an agreement to integrate the VIT token on Playboy’s sites and not paying $4 million promised as part of the deal.