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Pornhub: The crypto revolution is on hold

Perhaps porn fans are not as into cryptocurrencies as we were initially led to believe

Cryptocurrencies currently account for less than 1% of purchases made on Pornhub’s platform.

The Canadian adult entertainment venture remains upbeat on Bitcoin et al, however. “We expect to see widespread adoption of crypto[currency] and blockchain on our site in the near future,” a spokesperson told Hard Fork.

In August, we reported that Pornhub was adopting open source blockchain-based billing protocol, PumaPay as a payment method. It will be accepting the PumaPay token (PMA) as one of its payment methods for all purchases – including Pornhub Premium, the company’s HD, on-demand streaming service, as well as advertising-related payments for TrafficJunky, its traffic and advertising network.

PumaPay, which was developed by Cyprus-based blockchain company Decentralized Vision, raised $117 million in a private sale that ended on 7th May. “Our technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account,” said PumaPay CEO Yoav Dror.

“With PumaPay, merchants avoid the drawbacks of the current banking systems, such as high transaction costs, the insecurity of chargebacks (reverse transactions) and associated fines, and the lack of customer anonymity.”

“As one of the most viewed websites in the world with over 90 million daily visitors, it is our duty to stay at the forefront of innovation and ensure the privacy of our users,” commented Pornhub VP Corey Price.

“As decentralised payment systems continue to grow in popularity, cryptocurrencies are especially viable in the adult entertainment industry because they incorporate more anonymity tools than traditional tender. PMA is a solid addition to our growing arsenal of cryptocurrencies, and we’re excited for our fans to use them to purchase a myriad of things on our platform.”

Porn pioneers

The adult entertainment industry is increasingly buying into digital currencies. In August, Coin Rivet ran a news story about Tube8 looking to reward users’ porn watching habits with cryptocurrency.

The subsidiary of Pornhub, which boasts 10 million users and 150 million monthly website visits, has teamed with Vice Industry Token (VIT) to tokenize its platform. This is set to be implemented by the end of the year and will make Tube8 the first major adult platform to adopt token-based rewards and pay its users for their online activity.

“For as long as I can remember, getting paid to watch porn was always a pipedream; one that was always dreamed about, but never fully realised. Now however, with the introduction of VIT, we are marking a paradigm shift in how people consume adult entertainment,” said Robin Turner, spokesperson for Tube8.

“As opposed to having to fork over money to consume content, which some sites require, our users will get paid to consume our free content. The more they interact with our videos, the more money they earn.”

Brazzers is also onboard with crypto payments, whilst porn star Stormy Daniels, best known for her, ahem, special relationship with US President Donald Trump, accepts Vice tokens on her personal website.

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