Earlier today, we had mentioned that Verge (XVG), which has been a subject of controversy in the recent past, is due to announce the mysterious partnership. Speculation was ripe that it could be payment processor Adyen. However, contrary to expectations, the new partner of Verge is Pornhub, one of the most popular porn sites in the world. Verge, which was formerly known as Dogecoin Dark, will be accepted by Pornhub as a payment for the premium subscription.
It is needless to say that Pornhub’s sister sites, Brazzers and Nutaku, will also accept Verge as payment from now onwards. Pornhub executives revealed that Verge was their obvious choice because of the kind of anonymity it offers. Verge allows its users to easily shift transacting from a public to a private ledger. This means specific transactions can be hidden at the will of a Verge user. The cryptocurrency achieves this using anonymous networks like Tor and I2P. Furthermore, it is an open source project and is not under any particular company.
Pornhub has also launched an adult titled ad “The Future Has Cum.” The title indicates that the adult website has paved way for others to start accepting cryptocurrencies.
Corey Price, VP of Pornhub said
“History has proven that the adult entertainment industry plays a critical role in adoption for innovative technology. We saw that with VHS, Beta Max, credit card payment icons and, most recently, VR goggles. We expect to see widespread adoption of crypto and blockchain in short order.”
The official announcement also says
“Building on Verge’s core values of security, anonymity and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”
Pornhub
Price further stated
“We’ve been looking at crypto for quite some time. Pornhub’s partner sites did accept limited cryptocurrencies back when Bitcoin had newly emerged as a digital currency. Still, Pornhub wasn’t one of the sites to include cryptocurrency as a payment method back then, likely because Bitcoin’s prices were still low.”
Pornhub has also set up a legal and accounts team to manage the possible issues that it may face from regulators. While acknowledging the fact that overall adoption is low, Price believes that it “has gained enough steam for us to penetrate the market.”
Notably, in the recent past, companies such as Valve, Microsoft, Reddit, and even Stripe have stopped taking cryptocurrency payments, citing various reasons including volatility and high transaction costs.
