Wednesday, 23 May 2018

Meet the blockchain that pays you to watch porn

Pornography is ubiquitous across the internet, with more than 150,000 adult websites worldwide. But contrary to appearances, the industry has been struggling for a long time in this new world of endless free porn.

Many of those thousands of adult sites offer only low-quality or pirated content, along with lots and lots of ads — which viewers largely ignore. It’s increasingly difficult for original content producers to make money and for porn fans to find high-quality content. In fact, the bulk of revenue in the online adult pornographic industry is not generated by content — it’s generated by traffic.

It’s a frustrating situation for both adult entertainments producers and fans. And it’s a system that Vice Industry Token (VIT) aims to disrupt and rebuild.

VIT an adult entertainment platform where viewers can watch videos, as well as a cryptocurrency where anybody who participates (in viewing, adding, or curating content) will get paid with VIT’s proprietary cryptocurrency.

VIT is designed to re-center monetization of free adult content around the specific desires of the viewer. Using blockchain technology, this new model ensures that content producers get rewarded for creating content and, most significantly, viewers get rewarded for watching porn.

In VIT’s system, content is produced, tagged by a blockchain-enabled platform, and curated by channel owners. Consumers view this content for free, in exchange for engaging with it in specific ways — for example, commenting, upvoting, or simply viewing a video for a set period of time.

These engagements generate VIT tokens, which are used as payment for participation. VIT can be exchanged within the system for goods and experiences such as partner magazines and subscriptions, adult toys and lubes, premium adult content, private cam sessions with cam models, videos and physical DVDs, collectible VR and crypto porn stars, admittance to virtual playrooms and more — and eventually, the tokens will trade based on supply and demand and will be able to be turned into cash via an exchange.

Giving Viewers a Voice

Traditional website traffic analysis systems passively record traditional engagement metrics, such view counts and clicks, but do not permit content producers to provide incentives to viewers to more deeply engage with their content in real time. The VIT protocol, on the other hand, permits content producers to reward viewers for comments and votes, providing much richer, insightful data.

The protocol also enables enable content producers to capitalize on such data and refine their content according to viewer preferences In turn, viewers will spend more time engaging with content they are more likely to buy, providing even more valuable information in an ongoing virtuous cycle.

It’s high time for the adult entertainment industry to deliver what everyone wants: high-quality content and rewards for viewers and earnings to producers for creating that high-quality content. By giving porn fans a real voice, VIT plans to transform the entire porn ecosystem.

Vice Industry Crowdsale opens 20th February 2018.

source: hackernoon.com 
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