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Less than 1% of users buy subscriptions with cryptocurrency

Back in April, grownup leisure large Pornhub broke the internet when it introduced users can now buy a premium subscription with cryptocurrency. But regardless of all the thrill the announcement generated, it appears pornography viewers hardly share this enthusiasm for blockchain-powered funds.

In an electronic mail to Hard Fork, Pornhub revealed that cryptocurrencies at present account for “less than 1 percent of purchases made” on the platform.

While the corporate doesn’t share what chunk of its users pay for the premium service, its web site attracted a mind-blowing 28.5 billion visits final yr.

Still, Pornhub stays optimistic concerning the future of the expertise. “That being said, we expect to see widespread adoption of crypto[currency] and blockchain on our site in the near future,” a spokesperson added.

At current, Pornhub lets users buy premium subscriptions with cryptocurrency. While the corporate initially launched crypto-payments with Verge token, it has since expanded its suite of currencies with TRON, and ZenCash (which not too long ago rebranded to Horizen after falling victim to attackers).

The grownup streamer additionally intends to implement Ethereum-based cost processor PumaPay within the close to future. A Pornhub spokesperson couldn’t present a transparent timeline for the implementation, however PumaPay insists the mixing will go dwell within the first quarter of 2019.

Until then, you’ll should accept utilizing Verge, ZenCash, or TRON.

While Pornhub says it seeks to supply funds in “cryptocurrencies that put user privacy and security at the forefront,” solely ZenCash and Verge come with built-in anonymity. That mentioned, each have dealt with technical difficulties, having to fend off 51 percent assaults earlier this year.

It’s not clear how the addition of TRON advantages the general person expertise. As far as PumaPay goes, Pornhub says it selected answer as a result of of its “flexible billing capabilities,” which embody “recurring payments and pay-per-use.”

We’ll have to attend till subsequent yr (when PumaPay finishes improvement) to see whether or not such options will turn out to be useful to porn users. A PumaPay spokesperson instructed Hard Fork the corporate has onboarded over 60 “partners” (many of which within the porn trade) thinking about implementing its cost answer.

As of August, just one of these companions had carried out PumaPay’s expertise. Meanwhile, information suggests the corporate has lost $102 million in worth since elevating $117 million price of Ethereum in an initial coin offering. Indeed, its market cap has shrunk to much less than $14 million.

Whatever the case, one factor is for positive: Pornhub might want to curiosity much more individuals in utilizing its cryptocurrency integrations if its deliberate Tube8 tokenization is to breed any success. Or we is likely to be in for an entire new Playboy-tier fail.

If you’re thinking about the whole lot blockchain, likelihood is you’ll love Hard Fork Decentralized. Our blockchain and cryptocurrency occasion is arising quickly – be a part of us to listen to from consultants concerning the trade’s future. Ticket gross sales at the moment are open, check it out!

Published September 28, 2018 — 14:18 UTC


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