Playboy to accept VIT cryptocurrency that can be earned by watching porn and spent on more X-rated videos
The porn entertainment giant is set to allow payments made with Vice Industry Token (VIT) - a form of digital cash that claims to rewards fans for viewing sex videos.
PLAYBOY will soon start accepting payments of cryptocurrency that users earn by simply watching porn.
The entertainment giant is set to allow payments made with Vice Industry Token (VIT) - a form of digital cash that claims to rewards fans for viewing sex videos.
A form of digital money, cryptocurrency uses encryption to secure transactions and control the creation of new units.
Porn fans generate the Bitcoin-like cryptocurrency for VIT which can then be redeemed in exchange for more content.
Porn sites usually make money from subscriptions and advertising revenue.
Playboy executive Reena Patel said: "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 innovation gives the millions of people who enjoy our content more choices with regard to payment."
The new payment system will be in place before the end of the year.
The company also has plans to integrate cryptocurrency to its gaming and virtual reality services.
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Cryptocurrency is a form of digital cash that uses cryptography - a form of secret coding originating from the Second World War - to process transactions securely.
There are a wide array of different cryptocurrencies, the most well-known being Bitcoin, which was launched in 2009.
Many early buyers of Bitcoin made a killing when the currency rocketed in value, but there are signs the market is slowing.
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