Playboy TV is launching a new payment option that will allow customers to access its exclusive adult content using cryptocurrencies.
According to an announcement today, the adult content network said it will roll out a dedicated cryptocurrency wallet by the end of this year. The media firm will initially accept a cryptocurrency dubbed Vice Industry Token, which is being issued through an initial coin offering that ends next week, with other unnamed "leading" tokens to follow later.
According to its white paper, Vice Industry Token (VIT) is designed partially for adult content specifically and touts a utility that can track real user engagement on adult content channels over a blockchain.
In its release, Playboy TV said users can view, comment on and vote for original content using VITs on its channel.
The initiative marks possibly the first instance of a major television company moving to accept cryptocurrency as a payment tool.
Reena Patel, Chief Operations Officer, Licensing and Media for Playboy Enterprises, said:
"As the popularity of alternative payment methods continues to grow around the world, along with the reach Playboy's digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility."
Looking ahead, Playboy said it also plans to integrate the cryptocurrency wallet with its other business lines, including gaming, augmented reality and virtual reality initiatives.
Playboy image via Shutterstock