LOS ANGELES – If there’s one thing common to the marketing and promotional materials of the various cryptocurrencies which have openly declared themselves adult-friendly cryptos, it’s the staunch belief that adult entertainment and cryptocurrency are made for each other.
If there’s a second common trait, it’s a confidence shared by each crypto company that their token someday will come to be the dominant cryptocoin in the adult space.
In the case of VogoV, which announced the token sale of its OGO coin two months ago, the faith in the perfect union of adult entertainment and cryptocurrency appears to have been born in part from frustration with the difficulty of getting non-adult businesses to adopt and use cryptocurrency.
“The founders were struggling with universal cryptocurrency acceptance and usage in their own business,” the company stated in a press release Thursday. “As a result, they began the development of ‘OgoShift Merchant’ that will become the leading payment system used within the adult industry.”
Part of VogoV’s strategy is to appeal to adult businesses with a pitch which is likely to resonate with those who feel they’re slicing off too much of their incoming revenue-pie in the form of processing fees. The company is also clearly thinking about ways to make their token easy to integrate.
“Adult entertainment businesses struggle with high risk processing fees when receiving credit card payments, but with OgoShift they will be free from any kind of processing fees for the first year entirely,” VogoV stated in its press release. “OgoShift Merchant is in the process of integrating with NATS, the most used affiliate program- back-end solution in the industry.”
Naturally, the OGO pitch also hits on the most intuitive reason cryptocurrency and adult seem like such a good match: “OGO coin can be an alternative secure and anonymous payment method” for the adult industry.
“The adult industry is perfect for the application of cryptocurrency,” said Ivan Kirillov, Co-Founder and Managing Director of VogoV. “Large businesses with hundreds of millions of dollars in revenue are ready to accept and use cryptocurrency. If it becomes widely spread, cryptocurrency will gain a market where it can be circulated and used as a payment method, not only a speculative trading instrument. If and when that happens, it will help to stabilize the cryptocurrency market and have a positive impact on the market cap.”
According to VogoV, the adult market is already responding positively to the OGO coin and the OgoShift Merchant payment system.
“More than 20 websites have announced the acceptance of OGO coin as a payment method and their integration with OgoShift,” the company stated in its release. “Among the first adopters are such well-established industry players as TeenMegaWorld and TmwVRnet.” (A full list of the OGO coin’s early adopters is available here.)
At the moment, OgoShift Merchant is still in its alpha testing phase. Naturally, the true test of the industry’s willingness to adopt both the coin and the payment system won’t come until the full system is launched. VogoV has other developments in mind before that full launch happens, however.
“Before the full launch of the payment system, we have decided to release the OgoShift wallet, a cryptocurrency wallet,” said Aleksei Maetnyi (AKA Markus Dupree, the name under which Maetnyi has worked as an adult performer), Co-Founder, Director of VogoV. “So far, the MVP supports only Ethereum and ERC20 tokens. We are currently developing it further. The release will occur during our pre-crowdsale, starting on August 21.”
Obviously, OGO is neither the first nor only cryptocurrency to declare its intent to be the coin of choice for the adult industry – and as recent wild fluctuations in various cryptocurrency values suggest, the crypto market remains highly volatile.
Whether any of the declared adult-friendly cryptocurrencies will come to dominant the market is hard to predict. What does seem certain is the nature of the adult industry will continue to make it an attractive market for cryptocurrency companies and developers, whether their coins soon catch fire, eventually fizzle out, or land somewhere in between.