LONDON – intimate.io, the company behind the adult industry-focused cryptocurrency “intimate” (ITM) announced yesterday it has lowered the minimum packet amount required to purchase ITM tokens in the token’s pre-sale period from 33 ETH (Ethereum) to 10 ETH, a move designed to increase the number of early supporters of the new token.
The company also announced the release of an updated version of its white paper, which goes into considerable detail about the way the token functions, the company’s vision for the cryptocurrency’s future role in the adult entertainment industry and the executive team behind intimate.io.
“As we’ve presented our concept to industry and investors all over the globe, we’ve seen tremendous support build for intimate.io,” said Leah Callon-Butler, Co-Founder and Chief Impact Officer of intimate.io. “We look forward to growing the intimate.io community and ecosystem through our ITM token Pre-Sale, to deliver this much-needed trust mechanism and payment solution that will ultimately help the adult industry become a much safer, more inclusive and more secure place.”
The pre-sale period for ITM tokens is set to end tomorrow at 5pm GMT (1pm EST, 10am PST). Through that time, pre-sale participants will receive a 20% discount for purchases below 30ETH and 30% discount for purchases above 30ETH.
In its press release, intimate.io said the token would help “end the stigma and social exclusion that has long inhibited innovation” in the adult entertainment sector.
“By partnering with business operators and entrepreneurs, intimate provides solutions for the institutional biases that lead to denial of services, excessive merchant fees, frozen accounts, and social exclusion in the adult industry,” the company stated in its release. “intimate.io takes the traditional advantages of blockchain technology a step further by establishing reputation on a distributed ledger. This provides an open platform of trust providing pseudo-anonymous reputation, which solves the current trade-off between people’s desire to keep their personal data anonymous while also wanting the sense of trust and safety that comes with data disclosure and transparency. Intimate.io is launching with a network of content, interactive content, dating, novelties and love hotel brands worldwide.”
In its white paper, intimate.io claims the token “will provide specific features uniquely valuable to the adult industry.”
“It builds on the familiar advantages of blockchain as an anonymized ledger but also enables reputation to be established thus providing the foundation of trust so desired by providers,” the white paper continues. “Even in legally favorable jurisdictions, the adult industry has not had this level of trust and security.”
The intimate white paper states that the currency “achieves this by requiring a reputation rating to be attached to every transaction on the blockchain.”
“Consumers and providers can build a reputation by establishing a history of satisfactory transactions on the intimate network,” the white paper states. “Bad or fraudulent activity on the network would essentially cost the user their reputation and access to the network.”
According to intimate.io, the public sale of the ITM token will open on April 11, “dependent upon clearing of tight KYC (“Know Your Customer”) requirements.”
For more information on ITM, visit intimate.io or download the intimate white paper.
