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Blockchain Porn Done Right: Unpublished Vice President of Vice Industry Adult Entertainment?

The adult entertainment industry is known for driving technological innovation and teaching new technologies. As for the aspects of the traditional Internet that we now take for granted, including streaming video, credit cards online and even the concept of e-commerce.

While the blockchain is rapidly integrating into our digital lives, the adult industry is trying to develop new business models that suit everyone: talent, producers, distributors and consumers.

Vice Industry and SpankChain are gaining a lot of attention for their endeavors to improve adult entertainment through blockchain-based solutions. We spoke with Vice Industry Founder and CEO Stuart Duncan about his company's solution to the issues that are hindering economic growth in the adult industry, and how it compares to their closest competitors.

Let's talk about the industry. 24/7 all-you-can-eat access to porn, so what exactly needs fixing?

The free content model is broken. Most players in the adult commercial industry. Porn generates 30% of all Internet traffic, which generates 62% of the industry's revenue. Those numbers sound great, but ever-increasing competition is diluting the media landscape with lower-quality content that we have

Viewers are not engaging with ads. As a result, advertising revenues are sinking, and this threatens a huge portion of our revenue.

At the same time, producers of paid content are witnessing a decline in consumption, while at the same time suffering from low levels of financial compensation received for the content after the ad networks and agents have taken their cut. So they have little or no incentive to continue producing high quality content.

What is the Vice Industry solution for these problems?

Begin with an understanding of what we are actually competing for here, and this is consumers' attention.

The future of adult entertainment is to recognize that consumer attention is a precious and scarce resource - and indeed a completely new economy: the Attention Economy, which financially reward all parties: content producers, talents, distributors, curators and consumers.

So is Vice Industry's solution to ensure that everyone gets paid, even viewers?

Exactly. As we say, "Free was good, it's not good enough anymore, get paid to watch porn."

Tell us more about the economy of attention.

In Attention Economy by Vice Industry, the contents are produced, labeled by a blockchain enabled platform and edited by the owners of the channels. Consumers see this content for free, in exchange for interacting with it in specific ways - for example, commenting, upvoting, or simply viewing a video for a set period of time. These commitments generate our cryptocurrency, the Vice Industry Token (VIT), which is then used as payment for participation.

The use of a cryptocurrency, rather than a traditional one, facilitates the high volume of minimum payments - micropayments - that our model requires. In cases where there are multiple content producers, for example, when a third party creates a two-video mashup, the technology will be blocked that can recognize the property and the ability to recognize cryptocurrency micropayments.

Among other blockchain solutions in the adult industry, there has been much talk of SpankChain. How does Vice Industry impose itself on them?

To put it plainly, it is not possible to compare the two. Vice Industry is simple, useful and beneficial for everyone involved: content producers, talents, distributors, curators and spectators.

SpankChain, on the other hand, is limited to a single single: anonymous payment for webcam shows. And the spectator must buy their cryptocurrency to pay for consumption. So it does not even matter free content!

The SpankChain model creates more problems than it solves. Its multi-token model is confusing and reserved for users to purchase them from obscure sources. While anyone can certainly buy VIT, users spend money to consume the content they want to see when they want to see it.

SpankChain has a small target audience and a small potential user base. It is practically useless if you buy it for anonymity. Just ask the billions of people who are facing tube sites since 2006.

Vice Industry, on the other hand, serves a wide audience of global resources and benefits of multipurpose utilities.

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Vice Industry is the first entertainment company to make the relationship between viewers and contents clearer, making old models unsustainable. Stuart Duncan is confident that his company's pioneering approach to the way we use online porn will shift to the distribution of mainstream TV and video content. After all, why will someone look at what it is when they could be paid?

MORE INFORMATION: 

WEBSITE: https://vicetoken.com/

TWITTER: https://twitter.com/ViceToken

MEDIUM: https://medium.com/viceindustrytoken

TELEGRAM: https://t.me/viceindustrytoken

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