“For as long as I can remember, getting paid to watch porn was always a pipedream; one that was always dreamed about, but never fully realized. Now however, with the introduction of VIT, we are marking a paradigm shift in how people consume adult entertainment. As opposed to having to fork over money to consume content, which some sites require, our users will get paid to consume our free content, the more they interact with our videos, the more money they earn” Tube8 spokesperson Robin Turner told TheNextWeb.
The token they're choosing is the Vice Industry Token, which is currently taking some heat as Playboy takes them to court over breach of contract, as outlined by the LA Times:
"The lawsuit, recently filed in Los Angeles County Superior Court, claims that Playboy reached an agreement in March with the Canadian company Global Blockchain Technologies, under which GBT would implement the third-party cryptocurrency Vice Industry Token on Playboy’s sites. Playboy said GBT hasn’t made good on the deal and also failed to pay the $4 million it promised as part of the agreement."
But I wouldn't expect this to be something we see within the next few weeks. Currently, the Vice Token is an ERC20 token built on Ethereum - which can only handle about 15 transactions per second. A site like Tube8 rewarding millions of users with tokens would be enough to bring Ethereum to a grinding halt.
The creators of the Vice Token plan to move to a forked version of Steem's blockchain - and that would have to happen first. No date is set but the Vice Token team says it's in the works and they're still fixing 'minor bugs'.
Author: Oliver Redding
Seattle News Desk
