The cryptocurrency market is no stranger to speculation. Consider that despite the growth of this industry, many continue to view these assets and associated technologies as a bubble about to burst.
As history has proven, overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app”. Although there is no clear precursor, the adult entertainment industry has proven to significantly advance new technological iterations in the past and presents an interesting proposition for the future of cryptocurrencies.
The adult entertainment industry is believed to be worth billions of dollars, giving it significant influence over the cutting edge technologies of the world. Although he does not create these new technologies, he is often the first to adopt them and to do so successfully.
For example, the industry was among the first to make money on the internet, where it continues to rake in over $1 billion a year. This is partly because, unlike other industries that have to contend with big-box retailers, the adult entertainment industry doesn’t need to engage in traditional distribution issues.
Although this is just one example, this industry has continued to demonstrate a history of embracing new forms of media to get their content to viewers. To illustrate, consider the transition from VHS to Blu-ray to Internet streaming.
From Betamax to Blu-ray
Taking a trip back to the 1970s, users will learn about the debate between Betamax and VHS, two devices that could run film, presenting a standard in viewing technology.
In one corner, the Betamax has a wide format which allowed the device to have better recording quality, although only one hour of video footage could be retained. In contrast, VHS offered lower quality but with tripled storage capacity (up to three hours). The result was that VHS prevailed, with adult viewers now having access to 180 minutes of content.
In an industry as vast as this, this small transition extended the longevity of VHS and effectively ended Betamax.
Looking forward to a more recent example, consider the technological transition from HD DVD to Blu-ray. HD DVD was already largely successful when Blu-ray was introduced, presenting a tough market to compete with. However, the Blu-ray had more capacity to hold things like deleted scenes, behind-the-scenes footage, and other cast commentary, a reality. which has been achieved in the adult entertainment industry. Therefore, like Betamax, HD DVD was dead.
As technology overtakes Blu-ray and Web3, it’s logical to conclude that the adult entertainment industry will once again be pioneering a new era of technological evolution.
Ushering in a new era for decentralized payment
Today, the adult industry has evolved far beyond studio-controlled content distributed by Blu-ray, to a model where creators are responsible for their creations. Although they have more autonomy, creators still face a hurdle, the way in which they will receive payment.
Creators have no choice but to accept funds through traditional banking solutions, subjecting them to steep fees, chargebacks, chargebacks, and account closures. Not to mention viewership restrictions due to privacy concerns.
Cryptocurrencies aim to solve this problem, operating without an intermediary to ensure that creators and customers can transact directly with each other. Due to their anonymous nature, cryptocurrencies also allow users to keep their identities hidden.
A metaverse where adults come to play
With a potential solution out of the way, it’s not uncommon to see adult entertainment websites incorporate cryptocurrencies as a payment method into their website. However, new versions of the platform have taken the application of blockchain technology and utility tokens one step further, creating entire ecosystems to maximize the fan experience.
The Pleasure Network demonstrates this by releasing a series of safe and inclusive adult platforms powered by the Pleasure Coin utility token, NSFW. With NSFW, creators can be compensated for their content without the risk of chargebacks. The platform will effectively become a new way for fans and creators to connect, combining some of the highest quality features of existing platforms.
The token will also gain utility in the adult metaverse, Pleasureland. Pleasureland will include the Pink Tower, the first building in the metaverse, which will also serve as a place to store NFT assets, play, design, party, or enjoy personal space. Users will also have the option to rent their space to earn NSFW tokens.
NSFW is said to be one of the fastest growing tokens in the Polygon ecosystem – blockchain technology is advancing transactional speeds to degrees beyond traditional credit card processing.
And because Pleasure Coin is designed as an ERC-20 token, it allows creators and users to transact freely while keeping their identity and other personal information hidden.
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