Global Blockchain Technologies Corp. (BLOC) will be collaborating with Playboy Enterprises Inc. to develop a digital wallet that will allow for the incorporation of Vice Industry Token (VIT) into the Playboy.tv web media portal, according to a press release CoinReport received from CWR, BLOC’s PR agency.
VIT’s engagement-monetization technology enables users to get paid just for watching video content.
The two organizations are also examining more possible uses for digital currency-powered business in the future.
Reena Patel; chief operations, licensing and media officer at Playboy; said in the release we received, “We see tremendous value in the Vice Industry Token, because it embraces the way in which the media world has changed. It went from pay-to-view before the internet to free-to-view with the internet. Free content was wildly popular at first – but as the internet became saturated with it, it revealed what the true hot commodity was… human attention. Vice Industry Token recognizes this by paying its users just to watch videos, such as those on Playboy.tv. With Global Blockchain helping to drive this integration, Playboy.tv will be one of the first to ride this wave in an era where human attention is more valuable than ever.”
VIT is powered by the same technology that powers the Steem blockchain, allowing for all types of participation and engagement to be rewarded, says an article on VIT’s website. According to the press release, the blockchain on which VIT is created is engineered to allot a particular percentage of new coins to be paid to users in exchange for their actions, which include placing votes like “likes” and “dislikes,” making comments and watching videos. VIT users on Playboy.tv can earn VIT coins for these actions and spend them on the platform for paid subscriptions and content. The present state of VIT as it pertains to Playboy is just the start; more uses are being arranged for too.
Global Blockchain chairman Steven Nerayoff said, “As one of the earliest adopters of blockchain technology, this is a thrilling project to be part of. Most cryptocurrencies fail because they are unable to match up with a real-world use case, which resigns them to a fate of being nothing more than an experiment of speculation and baseless hype-building. In this situation, Playboy specifically benefits from having a cryptocurrency like VIT on its side. This is where investors should be paying attention, because the coins and tokens that go nowhere all have one thing in common – no real-world use case. For VIT, being part of Playboy is a huge step in real-world cryptocurrency use that will translate to success.”
At present, BLOC is developing a digital currency wallet that can hold VIT in order to make storage and token use easy for the user in a way that incorporates with Playboy.tv using an API. Users will be able to add VIT coins to their wallets by buying them from an exchange, as well as earning them on Playboy.tv. Native API-based payment processing functionality on the Playboy.tv website will help in spending the coins on Playboy.tv, making the digital currency even easier to use than a credit card.
Global Blockchain president and CEO Shidan Gouran commented, “Human attention is a seriously valuable commodity, and media companies these days are too focused on selling ads to realize that. Between Facebook, Instagram, Twitter, YouTube, and every media platform out there, they are all desperate for the limited resource that is human attention. Since Playboy.tv will be able to pay people just for watching videos by using Vice Industry Token, that will pull the platform way ahead of the pack, attracting significantly heightened viewership of Playboy.tv, and use of VIT.”
Playboy proclaimed its incorporation of VIT in a press release issued earlier this year. The organization is playing a strategic part in planning and applying the integration, exploiting its management’s experience with digital currencies and the internet entertainment sector to make the most of the output of this partnership. The incorporation of VIT into Playboy.tv and the wallet is planned to be launched before 2018’s end.