Blockchain technology can help create safe and inclusive adult platforms
It is well known that the adult entertainment sector is one of the first to experiment with new technology, and the blockchain appears to be the next on the list.
Market speculation is nothing new for cryptocurrencies. Consider the fact that despite the industry’s expansion, many still believe that these assets and the related technology represent an impending bubble.
Although there is no clear frontrunner, the adult entertainment industry has proven to significantly advance new technology iterations in the past and presents an interesting proposition for the future of cryptocurrencies. Overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app,” as history has shown.
According to estimates, the adult entertainment market is worth billions of dollars and has a substantial impact on the most advanced technology in use today. It doesn’t invent these new technologies, but it frequently adopts them first and does so well.
For instance, the sector was among the first to generate revenue on the internet, where it still generates over $1 billion annually. This is partly because the adult entertainment sector is exempt from traditional distribution problems, unlike other sectors that have to compete with “big box” stores.
Even though this is only one instance, this business has a history of utilizing the most recent media types to communicate with viewers. Consider the switch from VHS to Blu-ray to online streaming as one example.
From Betamax to Blu-ray
Users can learn about the controversy over the Betamax and VHS, two machines that could play movies and set a standard for viewing technology, by traveling back to the 1970s.
The Betamax featured a wide format in one corner that allowed for a higher quality recording even though it could only store an hour of video. The VHS won out because it provided inferior quality but had three times as much storage space (up to three hours). As a result, consumers of adult entertainment now have access to 180 minutes of information.
This little change, in a sector this size, gave the VHS a longer shelf life and basically killed the Betamax.
In terms of a more current illustration, think about the change in technology between HD DVD and Blu-ray. When Blu-ray was first released, the HD DVD was already largely established, making it difficult to compete in that market. However, the adult entertainment sector understood that Blu-ray had a greater ability to contain things like deleted scenes, behind-the-scenes video, and other actor remarks. Therefore, the HD DVD was extinct, just like Betamax.
It stands to reason that the adult entertainment sector will once again lead a new phase of technological evolution as it moves beyond Blu-ray and into Web3.
Ushering in a new era for decentralized payment
Today’s adult market has advanced well beyond studio-controlled Blu-ray content distribution to a model where content creators are in charge of their works. Despite having more freedom, one obstacle still stands in the way of creators getting paid.
The only option available to creators is to accept payments through conventional banking methods, which comes with exorbitant costs, the possibility of payment cancellations, chargebacks, and account closures. not to mention limitations on the audience because of privacy issues.
By operating without a middleman to ensure that developers and customers may conduct business directly with one another, cryptocurrencies seek to address this issue. Cryptocurrencies also allow users to disguise their identity because they are anonymous.
A metaverse where adults come to play
It is usual to see adult entertainment websites include bitcoins as a payment mechanism on their website as a potential answer to the market gap. However, more recent platform releases have expanded on the use of utility tokens and blockchain technology, building full eco-systems to improve the fan experience.
By announcing a number of secure and welcoming adult platforms that are supported by the Pleasure Coin utility currency, NSFW, The Pleasure Network is proving this. With NSFW, content providers may receive payment for their work without worrying about chargebacks. The platform, which combines some of the best elements from other platforms, will essentially emerge as a new medium for connecting fans and creators.
The token will be useful in Pleasureland, the adult metaverse. The Pink Tower, the first structure in the metaverse, will be a feature of Pleasureland and can be used to store NFT assets, play games, create artwork, host parties, or just relax in private. In order to earn NSFW tokens, users will also have the option of renting out their space.
According to reports, NSFW is one of the Polygon ecosystem’s fastest-growing currencies, with blockchain technology enabling transaction rates that exceed those of conventional credit card processing.
Additionally, because Pleasure Coin was created as an ERC-20 token, it enables producers and users to conduct anonymous transactions without disclosing their identities or other personal information.
Source: Coin Telegraph