Playboy TV is launching a new payment method that will allow customers to access its exclusive adult content using cryptocurrencies, reports Coindesk.
According to an announcement made today, the adult content network announced that it will launch a crypto wallet by the end of this year. The media firm will first accept a token dubbed Vice Industry Token, which is issued through an initial coin offering ending next week, and other unnamed ” leading” tokens will follow later.
According to its white paper, Vice Industry Token (VIT) is partially designed for adult content and features a utility that can track users’ actual engagement in adult content channels through blockchain.
In its release, Playboy TV said that users can watch, comment and vote for the original content using VITs on its channel.
This is probably the first time a major television company has accepted cryptocurrency as a payment tool.
Reena Patel, Chief Operating Officer, Licensing and Media for Playboy Enterprises, said:
“As the popularity of alternative payment methods continues to grow around the world, along with the reach Playboy’s digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility.”
Looking to the future, Playboy has indicated that it also plans to integrate the cryptocurrency wallet into its other business lines, including games, augmented reality and virtual reality initiatives.