Cryptocurrency & Blockchain Business

Playboy is working on a cryptocurrency wallet

The adult entertainment company expects the wallet to be ready by the end of the year.

If you’re the rare breed of internet user who pays to look at naked people, Playboy Enterprises will cheerfully take your cryptocurrency along with your ordinary dollars.

The adult entertainment company announced Wednesday that it’s developing an online payment wallet, which people can use to pay for its online content and casual games. It’s expected to be available by the end of the year.

The decision to accept cryptocurrency payments reflects the “popularity of alternative payment methods” around the world, said Reena Patel, the company’s chief commercial officer and head of operations, in a press release. 

This is Playboy’s latest attempt to adjust to the changing online landscape, where pornography isn’t exactly difficult to get hold of. In 2015 the company made headlines by announcing that it would stop publishing naked photographs in its print magazine, which launched in 1953. “You’re now one click away from every sex act imaginable for free,” then-CEO Scott Flanders told the New York Times. But the magazine ultimately reversed its decision, bringing back nudity in 2017.

Playboy will accept payments from various cryptocurrencies, including the Vice Industry Token, a decentralized blockchain platform that says it monetizes adult videos while rewarding viewers for watching them. VIT positions itself as an alternative to the “broken” ad-supported “tube” sites that allow viewers to watch porn for free while only web-traffic companies make a profit.

By SARAH MCDERMOTT @ cnet.com

 

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