Playboy will join the ranks of crypto-friendly companies, by releasing its own wallet. The wallet will include support for the Vice Industry token (VIT) and will be used to pay for Playboy’s online media.
At first it will be used for the Playboy.tv, where exclusive content will be available to access with cryptocurrency.
Reward for engagement
Playboy Enterprises Chief Commercial Officer and Head of Operations, Reena Patel, said in a statement:
“This innovation gives the millions of people who enjoy our content, as well as those in the future who participate in our casual gaming, AR and VR platforms, more choices with regard to payment and in the case of VIT, an opportunity to be rewarded for engaging with Playboy offerings.”
The VIT token raised $22 million in Ethereum (ETH) during the first 24 hours of its ICO (Initial Coin Offering). It allows the adult industry’s users to earn the token for free – simply by watching the content. Playboy will allow users to earn the token, that can later be used to access other content. It will also be used as a payment for voting and commenting on the platform.