Since the mid-2000’s, the sex industry has turned into one of the most profitable markets in the world. To put things into perspective, the porn industry currently rakes in a staggering US$97 billion annually, which is more money than the MLB, NBA, and NFL combined.
Also, with the advent of the blockchain, the sex industry is now experiencing a makeover with many content creators now favoring a decentralized business model to distribute their videos, films, pictures, etc.
PROBLEMS FACED BY THE ADULT INDUSTRY
With there being so much free pornography available on the internet today, it is very difficult for many adult content providers to earn money for their creations. In addition, the issue of piracy is heavily prevalent within this domain, as most adult material tends to get duplicated and make the rounds on various websites quite quickly.
Despite the massive surge in popularity that the blockchain has experienced in the past couple of years, there has been relatively low interest in developing crypto technologies that cater specifically to the adult content consumer market.
However, in 2017, there were more than a dozen coin offerings that were aimed directly at this segment. These platforms are designed to promote high-quality content access using cryptocurrencies, thereby eliminating issues of piracy, unfair revenue distribution, duplicated content and so on.
HOW CAN BLOCKCHAIN BENEFIT THE ADULT MARKET?
- Faster Payments: when using blockchain platforms, it is much easier to make payments for audio/visual content. Since everything is governed by smart contracts, alt-assets make content distribution highly efficient.
- Streamlined Access: crypto technology provides users with a surefire avenue for uninterrupted content access without having to rely on preexisting hosting services.
- Safety: as you may know, credit card theft is extremely common when using adult websites. Thus, by implementing blockchain technology within the online adult market, users can be sure that they are paying the correct amount of money at all times. Also, since all contracts are well-defined in advance, no hidden costs are incurred at a later stage.
- Better Content Delivery: the online sex market is full of duplicated content which makes it hard to find new material. However, with blockchain technology, it will become harder to steal content from websites since only users who have purchased the required number of tokens are granted access to a particular audio/video file.
THE TOP 6 SEX-THEMED CRYPTOCURRENCIES
One of the earliest crypto players to enter the adult industry, PronCoin offers its users a disruptive technology that was developed to regulate the way adult content is distributed online.
The core team behind this project has over two decades’ worth of experience in this industry and has created a system that can potentially restructure the online porn market through the use of digital assets.
Additionally, PronCoin has partnered with some of the biggest names in the porn industryincluding:
-AVN – one of the largest adult news magazines in the world today.
-XBIZ – an American publisher of news and business information for the sex industry.
When interviewed about their partnership with PronCoin, Zoran Rehar, the CEO of AVN, had the following to say:
Right now, big companies are cashing in and taking money from visitors. We believe that decentralizing everything will be even better for the whole adult community because everyone can participate by uploading videos, sharing videos, posting likes, comments and more. PronCoin reward tokens will be distributed to all who will participate in building and expanding our platforms, including porn stars, expos, shows, strip clubs and so many other access points into our database.
Spankchain is a blockchain-based platform designed to tackle most of the core issues faced by the adult industry today. It utilizes a decentralized foundation to get rid of middlemen, who more often than not end up receiving the lion’s share of the content revenue.
Additionally, this platform utilizes a governance model that redistributes financial earnings equallyamong all participants — creators, performers, and fans.
The PORN X platform is designed to serve as a payment service providing users with a vast array of pornographic resources along with a digitized payment protocol. It is compatible with any paid service that utilizes a decentralized blockchain.
Not only does the platform use a native token to facilitate internal transactions, but it also provides users with a mobile app that facilitates purchases via QR codes. The app is available for both iOS and Android users and can be used with over 15 of the top crypto assets that are in circulation today.
Lastly, to further increase platform usability, PORN X comes with a plug-in module that allows for instant and efficient crypto payments.
OKOIN is an adult content platform that combines the world of porn with that of Virtual Reality (VR). Since the service is completely decentralized, it is able to ensure complete privacy for all of its customers.
As we speak, OKOIN already has more than 500 VR videos on offer for its users. However, the one downside is that the content can only be viewed via the company’s AV module which can be restrictive sometimes.
It is also important to mention that OKOIN has a solid customer base of more than 900,000 users.
RedBux is a crypto-driven platform that aims to revolutionize the adult entertainment market by amalgamating content from companies like Wicked Pictures and IWantEmpire to provide users with a library of content that is vast and extensive.
In terms of its functionality, this platform is safe, secure and boasts an architectural framework that has more than six thousand different points for payment.
Asspace is an adult social network application that allows individuals of a liberal mindset to interact with one another so as to create a wide array of sexual content such as videos and films.
Additionally, this decentralized network is useful for creating as well as viewing adult content. It comes packed with features that have the potential to disrupt traditional sex content channels so that high-quality material is distributed in a more fair and regulated manner.
With blockchain seeping into nearly every area of our daily existence, it will be interesting to see how the blockchain transforms the online sex industry. As of now, there are already many fully-developed platforms that offer quality content to users via crypto payment channels.
However, for this revolution to gather more momentum, established adult content companies need to come together so that there is more uniformity in terms of streamlined AV delivery.