Be paying paid to watch porn might be a fantasy for some, but the Vice Application Token (VIT) is attempting to make it a reality. The ERC 20 token, which has recently received a elector of confidence from porn star Stormy Daniels, plans to switch the adult film industry’s economics with its innovation. It is built on top of a blockchain fork off Steem, a shackle that similarly rewards users for content, and has been adopted by the take ti of Playboy Enterprises Inc. for their online wallets. VIT concluded its token oblation recently. (See also: Playboy Rolls Out Its Own Cryptocurrency Wallet.)
A Race to the Source
As outlined in VIT’s whitepaper, subscriptions to online content account for a minority of takings in the adult film industry. Producers mainly recoup costs through traffic (generated from Google and affiliated websites) and advertising. Ad rates depend on contract with content measured through an assortment of factors, from judgement time to clicks on a site or a video. The revenue split is mainly a be produced end of the peculiarities of the internet’s ad-supported business model, which rewards free of charge content over subscriptions. (See also: Steemit: The Disruptive Blockchain-Based Norm Community.)
But it is a not a successful or profitable model. Free content has resulted in a rise of websites and a race to the bottom in terms of content quality and advertising calculates. According to the VIT white paper, adult content creators and joined websites and programs generate only 24% of total revenue. “Advertisers take home very little of overall adult revenue, content producers draw even less, and viewers earn nothing,” the white paper powers. VIT’s token is an attempt to rectify this state of affairs.
How Does the VIT Remembrancer Work?
Here’s how the system works: Each stakeholder in the adult perseverance value chain uses tokens to engage with the product. Viewers are recompensed for watching and engaging with porn videos through VIT tokens. The ethnic groups behind VIT claim that these tokens are a step up from stock metrics used to measure viewer engagement in that they also documentation metrics from other silos, such as social media interactions, references and likes. Instead of relying on third parties for this data, adult video producers can use token data to find out more about viewer predispositions and tailor future content accordingly. The direct connection between impresario and viewer through blockchain technology will help result in an “perpetual feedback loop” beneficial to the adult movie ecosystem. It will also specify content producers with another stream of revenue in the form of viewer meeting data that can be resold to other parties, such as advertisers consequence profited in such information.
Investing in cryptocurrencies and other Initial Coin Presents (“ICOs”) is highly risky and speculative, and this article is not a recommendation by Investopedia or the reporter to invest in cryptocurrencies or other ICOs. Since each individual’s condition is unique, a qualified professional should always be consulted before constructing any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the message contained herein. As of the date this article was written, the author owns 0.01 bitcoin.