Global Blockchain developing digital wallet for Playboy TV viewers

Posted: 31 May 2018 1:04 pm
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Vice Industry Token’s video entertainment platform allows participants to be paid to engage with content.

Global Blockchain, an investment company involved in the distributed ledger space, has been tasked with developing a cryptocurrency wallet which will hold Vice Industry Tokens (VIT) for Playboy TV subscribers.

The tie-up between VIT and Playboy Enterprises Inc. was announced earlier this year in March. The two companies teamed to allow users to be paid for watching video content. They are also exploring the potential for additional cryptocurrency-powered business opportunities that aim to garner further consumer attention.

“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,” Playboy chief operations, licensing and media officer Reena Patel said.

“Playboy will be one of the first to ride this wave in an era where human attention is more valuable than ever.”

VIT is a cryptocurrency and video entertainment platform where participants are paid to engage with content. viewers will be allocated a percentage of new tokens, via the blockchain, in exchange for engaging with content. This can include watching videos, leaving comments, voting and clicking on “likes” and “dislikes”. The tokens earned can be spent on the platform to access premium content or pay off subscriptions. Users can also purchase VIT from a digital exchange.

The digital wallet and VIT is set to be integrated into the web media portal by the end of 2018.

Playboy was founded in 1953 by the charismatic Hugh Hefner, who passed away late last year. Headquartered in Beverly Hills, California, the company publishes Playboy Magazine and creates open-minded content that’s distributed via television networks, websites, mobile platforms and radio throughout 180 countries.

A new report has evaluated opportunities for blockchain technology to influence and improve the retail and consumer packaged goods (CPG) industries. The business applications and potential impact are enormous.

However, despite a $400 billion cryptocurrency market capitalization, significant technological developments and dynamic new business partnerships, the interest in and appropriation of blockchain technology remains exceptionally low among corporations’ digital strategy professionals, according to the latest survey.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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