Adult entertainment platform Pornhub has reported about 10% of the models that work on it have decided to receive their payments in cryptos.
It should be noted the platform started accepting crypto payments back in April 2018, specifically with Verge. New cryptocurrencies have been added to the platform since then. For example, Horizen and Tron have been accepted as payment methods for quite a while, whereas in January Pornhub added the stablecoin Tether after PayPal decided in November to stop offering its service on the platform. Pornhub also started to accept PumaPay tokens last week.
However, in spite of the wide offer of options available, the percentage of premium subscriptions paid with cryptos has not increased significantly over the past 2 years, with cryptos representing only 1% of the total percentage.
Pornhub vice president Corey Price said:
"When we first introduced Verge in 2018, adoption just wasn't there and the number of transactions was low, relative to other forms of payments on our site," Price told The Block. "The number of users paying for Premium subscriptions in crypto has remained fairly steady since we introduced it as a payment option."
According to him, there are many reasons why cryptos have great potential in the adult entertainment industry, especially thanks to their high speed, low cost and anonymity features.
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