The adult entertainment industry has seen its fair share of crypto projects. Unfortunately, most of them are not doing a good job.
Anonymity is a key feature of public cryptocurrency networks, which has positive and negative effects. It’s great if you don’t want anybody to know you’re secretly financing Al-Qaeda; or if you don’t want your spouse to know about the income from your side hustle – or any of your other leisure activities.
And where could privacy possibly be more critical than in the adult entertainment industry? SexCoin, TitCoin, SpankChain, you can get a full load. Smashing!
What can you do with naughty coins? … just asking for a friend!!
Let’s get it banging: An introduction into the world of CryptoPerverts:
Number One: SexCoin. The project aims at preventing scams. That’s actually not a bad idea. Scams are an ongoing issue in the sex industry, I was told.
However, the only place where you can currently spend SexCoins is the company’s online sex shop called “SexCoin Maid.” So it’s actually more like Dollars for Dildos. How does it prevent scams?
Doesn’t blow me away. Next!
SpankChain is an Ethereum token focused on webcam modeling. Founder “Spanktoshi Nakabooty” believes users will eventually buy porn on the blockchain.
A major issue for many “18+” businesses is that traditional credit card companies don’t want to take them. As customers.
As a result, dodgy companies come in and f* them. SpankChain aims at changing this, by introducing the first in-browser blockchain-based micropayment processor and live video platform for the industry.
Users can wank off on the page without having to provide credit card details or other “sensitive” information. Porn-actors and other content creators can manage their own sides connected to a decentralized market place.
The only issue: They don’t seem to have any working product. They have had an “educational” product in 2017 called CryptoTitties that made some money, but I couldn’t find the video platform they are advertising. And I tried really hard.
Okoin, the “first decentralized blockchain-based VR platform for 100% anonymous adult content distribution” sells virtually reality products featuring over 500 films in 40 different genres. But again, Okoin has not developed the platform it’s currently selling itself on. Another cockblock.
Then there is TittieCoin. With TittieCoin you can visit Tittie Island, a “luxury resort style holiday destination with timeshare possibilities.”
The development of Tittie Island will take about five years; the company is looking at Bali, Bahamas, Fiji, and many other locations. There hasn’t been any ICO, and the island development has not started, but they do already have a masterplan drawing, they say.
Sounds dodgy? Naaah … what could potentially go wrong when investing in a project that combines a sex island and timeshare investment? No red flags here.
There is more: Bigboobscoin, VanillaPlay, Intimate, FAPCoin, and the list goes on. None of them has any significant size. But maybe small is better anyway?
So should we take the SexCoin Space seriously? Why not. Cryptos could solve some of the industry’s issues. But it needs a good project, one that is big and that can do it reeaaally well.
…for now, I think we might have to keep paying in cash. Suck it up.