Bitcoin, Crypto and Porn: Will the Adult Industry Boost the Market?
Geoffrey Gardiner Oct 05, 2019 02:02
The adult porn industry is a massive sector. Will it give crypto adoption a boost in the right direction? With many coins already in use, what has happened?
Porn is a huge industry, according to research, as much as 40% of the internet is related to porn. 65% of all web traffic during peak hours is devoted to video and audio streaming.
Data of Porn every second;
- 28,000 People watching
- $3 million being spent
- 372 people are typing the word “Adult” into a search engine
This is data by the second. The market is huge.
In America, all social media tweets from top platforms including Facebook can reach 30% of bandwidth, with streaming services like Netflix at 33.3%. They don’t come close to the adult entertainment industry numbers.
Porn globally is 40%. Think about that.
Crypto and porn partnerships to date
“SpankChain is a blockchain-based economic and technological infrastructure built for the Adult Entertainment Industry. By developing a framework, we provide sex workers with the core functionality necessary to create and operate a streaming or static content distribution application, while offering a range of services that provide enhanced functionality for these applications.“ — FAQ
They are offering an Ethereum ERC20 token but accept payments including bitcoin (BTC), Litecoin (LTC) and Monero (XMR).
Unfortunately, based on data seen on Coinmarketcap, the volume has been relatively steady but the price of the token continues to drop.
Crypto for Sex: Blockchain Takes Off in the Adult Entertainment Industry
Pornhub
A multi-billion-dollar company in this field is yet another that has entered into toying with crypto payment features.
Earlier this year, they partnered with Privacy based crypto platform Verge (XVG). Privacy tokens and this industry certainly make a lot of sense.
Verge has a larger token economy with a strong market ranking and open-source.
Pornhub had a reported 92 million visitors per day last year (2018) according to their analytics.
Data was also released stating that 1% of the user base paid in crypto. In response to this, Pornhub made further developments in partnership with crypto payment systems, PumaPay joining the billion-dollar company.
If the 1% continue to increase, what effect can it apply to the crypto markets?
Is adult entertainment a market for crypto?
“In 2016 enough porn was watched, that if we took all of the data and stored it on USB drives, the distance would get us to the moon.“—Original quote
It’s one way to get to the moon, right?
Mass adoption will take time, but if Crypto can ride the porn industry to the top, it might happen a little bit faster.
Currently the main cases against crypto include;
- Ease of use
- Design interfaces
In the very worst case, if this market can truly continue to grow, people would have every chance to test, improve and continue to develop our mind set of what cryptocurrency is.
If we are currently at 1% of this market with major players becoming more determined to adopt the technology, the future can only be a happy one.
What do you think? Is it a match? Or a left swipe?
Tell us in the comments below.
Image via ShutterstockImage source: Shutterstock
