Pornhub has revealed that less than 1 percent of purchases on its platform are made with cryptocurrencies
Canadian adult entertainment giant Pornhub has revealed that less than 1 percent of purchases on the platform are made in cryptocurrencies, Hard Fork reported September 28.
Despite the low volume of subscriptions paid with crypto, a Pornhub spokesman told Hard Fork that “[it] expect[s] to see widespread adoption of crypto[currency] and blockchain on our site in the near future.”
Pornhub integrated a cryptocurrency payment option in August through a partnership with crypto payment and billing startup PumaPay. Pornhub is reportedly looking to integrate the Ethereum-based payment processor sometime next year.
The PumaPay partnership followed a similar agreement with digital currency Verge (XVG) completed in April. The partnership with Verge lets users pay with the coin for Pornhub Premium and all purchases within the product.
A PumaPay spokesman told Hard Fork that the company has attracted more than 60 “partners” mostly from the porn industry interested in the integration of PumaPay’s payment solution.
The adult entertainment industry has been actively implementing cryptocurrency payment options. Last month, porn website Tube8 revealed plans to create a blockchain-based platform for users to earn crypto tokens as they watch and interact with Tube8 videos through a partnership with Vice Industry Token (VIT).
In March, Playboy Enterprises announced it will be developing an online wallet that will allow customers to use crypto to pay for company’s online media and includes support for VIT. The first sector of Playboy to use the crypto wallet was said to be Playboy.TV.
The project did not proceed as planned. In August, Playboy brought legal action against the Canadian developer that was responsible for integrating VIT into it’s online media platforms. Playboy accused Global Blockchain Technology of fraud and breach of contract.
In January, Cointelegraph reported that the world famous Bunny Ranch brothel was considering to offer a Bitcoin (BTC) payment option due to demands from high-end clients.
