Currently, the adult movie industry is worth over $100 billion. You will find it surprising to know that this industry is worth more than the NBA, MLB, and the NFL leagues combined. With this industry growing daily, there are tons of websites that users in the sector can access. While there are tons of these websites, one of the significant issues they have had to face is that of adverts that would display before the contents. With the development and launch of the Vice token, this industry would be revamped.
Problems With The Adult Movie Industry
We will discuss some of the challenges that consumers, content distributors, and content creators have had to face. These challenges include;
- Content creators are not paid; you will find it surprising to know that the revenue made from this industry is generated mostly from web traffic. Those advertisers that were part of the ad-supporting and free viewing experience stand to gain a tiny percentage of the substantial revenue that was generated. Asides the advertisers, the content creators also earn a little slice of the revenue. The viewers, on the other hand, do not gain anything. This structure of the industry has discouraged most content creators from creating contents that are of high quality.
- Viewer engagement and customization is reduced; while viewers do not pay for the contents that they view, advertisers now have total control of the content that should be sponsored. Although the viewers see these contents for free, their unique preferences are not captured.
The Vice Token As The Solution
In simpler terms, the Vice token is a modern approach to the monetization of adult contents that are freely available based on the unique preference of the viewer. This platform tends to reward all relevant stakeholders in the adult movie industry via the measurement of real engagement of the viewer. It seeks to capture the genuine engagement of the viewer through the generation of Steem tokens and also the recording of the different interactions each time adult content is consumed.
The platform was developed to ensure that anyone who gains access to adult content is rewarded. This list include; the producers of the content, the content distributors, and also the viewers. Interestingly, this platform has partnered with some of the top sites in the industry. Currently, the platform has partnered with Tube8 which in itself is a subsidiary of Pornhub. The content on Tube8 will be tokenized and transferred to the blockchain technology. It will work in such a way that all interactions between viewers and content creators would be termed transactions and would be processed. Each interaction would trigger the release of a token.
The method deployed has been called “Proof of View (PoV” and “Proof of Brain (PoB) by the development team. To ensure that the platform scales, all transactions would be moved to the Steem network which houses the Steemit platform. Moving the transaction process to the Steem network is a good idea as the network happens to be one of the fastest blockchain based platforms in the world. It is able to process over 100,000 transactions in a second.
Features Of The Vice Token
- Reward system; on this platform, viewers, content creators or producers, and all those that operate websites stand to gain huge rewards. The content with the highest views and likes would be rewarded, users with the highest views, comments, and likes would also be rewarded as well.
- Quality contents; since the platform rewards all content creators and contents with the highest views and likes, this would motivate these producers to create quality content that would meet the unique preferences of viewers. The reward system would also motivate viewers to become part of the process as they would also be rewarded when they view and like contents.
- Customized and viewer-friendly contents; one of the main problems that viewers have had to deal with in the adult movie industry is that of lack of customized contents that would fit the preference of the viewers. This was as a result of the fact that content creators received only a small percentage of the large revenue generated. With the reward system in place, these content creators or producers would be able to make high-quality contents that are tailored to meet the unique preference of each viewer.
Pros And Cons Of The Vice Token
- It seeks to reward viewers for viewing, commenting as well as liking contents created.
- Rewards content creators as well as encourages them to create quality contents.
- Ensures that quality contents that can meet the preferences of users are created
- Has been moved to the Steem network which is one of the fastest blockchain based platforms.
- A system that already proven, it can succeed.
Highlighted Details & Components
- Touch.tube, A component of the chain, is already active and many users including me actively posting videos and contents. We are earning some good money there. ( Currently, 17th Nov 2018, You need 1500 VIT to joint the platform.)
- Stake your VIT and you will earn 10% this year for inflation. So If you buy 2000 VIT now and power up those, It would show 2200 VIT on your wallet.
- VIT is using the same system as Steemit, So You will get the same high scalable chain with 0 txn fee & very fast confirmation only 3 sec.
- The Dev team is constantly updating the site with new features.
- VIT token integration with tube8, one of the most popular adult video platform, Already in progress and will commence soon.
- Images and post sharing platform soon will live where users can post their photos, contents and get paid.
- Team Working on getting a couple of cannabis sites up. Automanseeds.com and copperheadgrow.com
- A gambling platform also in the pipeline.
This is just the tip of the iceberg folks. VIT is without a doubt, one of the most promising projects in all of the cryptocurrency currently and blockchain tech at the moment and guess what? VIT Price is$0.0043 as of now & Their mcap is only 1.3 Million USD. I estimate. The price of VIT could touch 0.1 USD in the next couple of years. Which is approx 23X of the current price. Buy, VIT from Cryptopia
How to Use VIT Token?
We made an awesome tutorial for VIT token from where to but VIT to How to swap VIT. Also showed how the platform works and all other things. See it to learn more.
Originally Posted on : https://coingyan.com/vision-industry-token-vit-everything-you-need-to-know/