Global Blockchain developing digital wallet for Playboy TV viewers
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.
Playboy.tv 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 Playboy.tv 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 Playboy.tv 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.
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