A wise person once said: “as the porn industry goes, so goes the world.” OK, maybe we’re using a bit of creative license here. But we might be saying it in the future.
Pornhub, the world’s largest publisher of pornographic content, just announced plans to accept the Verge (XVG) cryptocurrency as payment. That’s remarkable for two reasons. First, it confirms that someone, somewhere is still paying for porn (honestly, sort of shocking). And second, it could foreshadow a future in which various industries hitch their wagons to specific cryptocurrencies.
Starting today, anyone can use Verge to purchase Pornhub content or merchandise (you know, in case you want to start your Christmas shopping early). In lieu of a slightly-NSFW link, we’ll treat you to a screenshot from the landing page where it was announced:
Two other companies owned by Pornhub parent Mindgeek — Brazzers, a pornographic production company, and Nutaku, an adult-gaming portal — will also accept the coin.
“Here at Pornhub, we’re all about convenience and security, which makes cryptocurrency an attractive form of payment for us,” VP Corey Price told The Verge (no relation to the coin of the same name). “We’ve been looking at crypto for quite some time and, while overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.”
Leave it to the porn exec to work “penetrate” into his press quote.
The decision to accept Verge and not one of the more well known-cryptocurrencies, such as bitcoin or ether, wasn’t made carelessly. According to a Pornhub press release, while most cryptos rely heavily on cryptography to ensure their security and anonymity, Verge takes a different approach, leaning on the anonymity-focused Tor and I2P network. This focus on anonymity made Verge the best fit for Pornhub users’ needs, said Price.
So, how long before other industries start partnering with niche cryptocurrencies that best meet the needs of their users?
Today, the currency you use depends almost entirely on where you are. If Pornhub’s approach catches on, though, it could have less to do with your location and more to do with what you’re buying. Numerous cryptocurrencies claim to address the needs of specific markets. If market leaders fully embrace one of those cryptos, like Pornhub is embracing Verge, we could see a future in which specific cryptos are intrinsically linked to specific industries.
As Price points out in the press release, it wouldn’t be the first time other sectors followed the porn industry’s lead, specifically when it comes to new tech.
