The Adult Website Pornhub has announced a partnership with cryptocurrency Verge (XVG) and will now accept the coin as payment for Pornhub Premium and all Pornhub purchases.
Pornhub is, however, the first adult site to accept cryptocurrency. Many already do, as do mainstream companies like Microsoft, Overstock, and Expedia. But the significance of the move lies less in the marriage of cryptocurrency and pornography than it does in the legitimization of cryptocurrency as tender generally.
Pornhub executives have certain reasons that they chose VERGE over other potential partners. The introduction video made by Pornhub states,
“[b]uilding on Verge’s core values of security, anonymity and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”
Verge offers anonymity, it’s an open source project that leverages Tor, which hides your IP address by encrypting your traffic and bouncing it through a chain of computers around the world, and I2P, which differs in practice but offers the same broad strokes peer-to-peer routing.
Pornhub Vice President Corey Price said in the press release that “not only is this an exciting announcement for us and the adult entertainment industry, it’s exciting for the crypto space”
“History has proven that the adult entertainment industry plays a critical role in adoption for innovative technology. We saw that with VHS, Beta Max, credit card payment icons and, most recently, VR goggles. We expect to see widespread adoption of crypto and blockchain in short order.”
Verge cryptocurrency has been pretty volatile, like other popular digital coins. Last December, when most digital currencies were on the rise, Verge cryptocurrency hit nearly $0.22 per coin but has since dropped back down. On the heels of this announcement today, it rose to about 10 cents per coin, which is still low compared to more popular digital currencies like Bitcoin and Ethereum.
In addition to Pornhub, sister site Brazzers, as well as adult gaming site Nutaku.net, will also be accepting Verge payments.
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