Adult entertainment firm, CamSoda has integrated cryptocurrency option to its platform. This enables users to access its services with seven different coins which include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Tron alongside privacy-oriented coins – Monero and ZCash.
Activating Services Using Cryptocurrencies
Cryptocurrency is now adopted for several services offered by CamSoda; this includes tips, live shows, private chats among others. Daryn Parker, the vice president of CamSoda, noted that “Now that we are seeing more adoption of the technology, we decided to give our users what they’ve been asking us for some time.”
Utilizing cryptocurrency on the platform will enable CamSoda users instantly purchase services on the platform while models can benefit from drastically lower fees and secure transfers. Parker also noted that “Say you’re an independent model in Romania, and you earn $500 a week, to get that wire might cost you $100 in fees, so it really takes a significant dent out of your work.”
This is not the first time that CamSoda will be launching a blockchain related campaign. In December 2017, CamSoda launched an interactive platform known as Bitcast. This platform makes it possible for users to pair their interactive sex toy with the performance of leading cryptocurrencies.
Also, in March 2018, the platform became prominent with the launch of CockBlockchain, a digital media exchange platform that allowed users to earn cryptocurrency by sharing their nudes.
CamSoda Not The First
Meanwhile, CamSoda is not the first adult site to adopt the use of cryptocurrency. Last year April, adult entertainment website, Pornhub announced users could purchase a premium subscription with cryptocurrency. Months after the adoption, last year September, Pornhub revealed that cryptocurrency payments accounted for less than 1 percent of sales made through the platform. The company did not specify exactly how much revenue that equates to, but Pornhub had more than 28.5 billion visits last year. However, the company noted it remained largely optimistic about the technology’s future.
Also, CamSoda revealed that it has been receiving requests from customers wanting to pay using cryptocurrencies weekly. Since launching the feature last week, Parker stated cryptocurrency payments have made up less than 1% of CamSoda’s transactions, which is higher than he expected at this stage, just like Pornhub experienced.
The secrecy of identity which cryptocurrency offers has been claimed to be a factor for its adoption by adult entertainment platforms. This is because it helps to hide the personality of top officials in the society that patronizes these platforms.
A major factor stimulating cryptocurrency payment adoption by businesses is to diversify their payment methods as it helps them to maximize revenue and attract a previously untapped customer base.