The porn and cryptocurrency industries are closely entwined in this day and age. Several projects were created to disrupt adult entertainment, yet nearly none of them ever lived up to expectations. After an extended period of seeming silence, SpankChain is ready to take the industry by storm. A prominent turn of events which shows there is a bright future ahead for cryptocurrency and blockchain as far as porn is concerned.
SpankPay has Arrived
Marketing is a crucial part of any blockchan or cryptocurrency venture. As far as SpankChain is concerned, the company has now built a cryptocurrency payment processor which has the potential to disrupt adult entertainment. Known as SpankPay, this project could prove to be of great interest to adult entertainment content providers. It may also bring cryptocurrency adoption to new levels, as the porn industry has a global reach.
It is not the first time SpankChain tries to bring new adult entertainment-oriented infrastructure to the forefront. Its other venture, known as SPANK.live, was launched a while ago, albeit it hasn’t gotten too much attention within the cryptocurrency industry as of yet. It too focuses on bridging the gap between adult content and cryptocurrency, which further shows that there are still many options to explore in this particular segment.
The Supported Currencies
As is the case with any cryptocurrency payment processor, not all tokens and assets will be supported at first. In the case of SpankPay, the main focus lies on top projects such as Bitcoin Ethereum, and Litecoin. Interestingly enough, the team also provides for privacy currencies, such as ZCash and Monero. This is a smart decision, as not everyone wants to have their transactions for adult content traced on a public blockchain.
Combined with the support for one-click purchases and instant transaction, SpankPay could prove to be a valuable asset in the porn industry. Merchants will benefit from a 0.5% transaction fee, which is a lot lower compared to more traditional solutions. Especially for new platforms looking to increase revenue – or models simply doing their own thing – such rates will be more than acceptable.
Two Initial Partners Pave the way
Launching a service on the scale of SpankPay would be rather meaningless without initial partners. As such, two platforms will test the waters as far as this new payment processing solution is concerned Both SkyPrivate and JustFor.Fans will integrate cryptocurrency payments to cater to the needs of their existing and potential future audience.
It is expected the aforementioned SPANK.live will also integrate SpankPay in the coming weeks and months, bringing the number of platforms to three. Whether or not other companies will follow suit, is very difficult to predict at this time. Cryptocurrencies haven’t made much of a lasting impact on the adult entertainment industry as of yet. With a dedicated payment processing option now available, things should start to look up for the cryptocurrency industry.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
Image(s): Shutterstock.com
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