Penthouse Global Media, publisher of the Penthouse magazine, has announced it will create a Vice Industry Token (VIT) for visitors to be able to pay and earn tokens across Penthouse’s original content, as well as comment on and vote for content.
The Vice Token is a Blockchain platform and cryptographic token for the vice industry that allows producers to more efficiently monetize their content (IE Porn) by rewarding viewers just for watching content. Penthouse says today’s ad-based, free viewing model is broken, dominated by tube sites and benefiting only web traffic companies. The token is said to enable producers to deliver high-quality content catered to the specific desires of their most enthusiastic fans. The token is in the midst of an initial coin offering and the crowd sale ends tomorrow (March 20th). The ICO has raised 24398.26 ETH as of today – about $13 million.
“This news is coming hot on the heels of our previous announcements this week,” said Stuart Duncan, chief executive officer of Vice Industry Token. “This industry has been a technology leader from the start and Penthouse has always been a forerunner. Partnering with VIT is the next logical step for an iconic brand like Penthouse.”
Kelly Holland, CEO and owner of Penthouse, said they want to accelerate their “bold move” into crypto by allowing people to both earn and spend cryptocurrency on all their online portals
“VIT will help us to expand into the new markets presented to us, and it will assist us in expanding our global brand loyalty. Additionally, it will increase our advertising reach and exposure.”
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