Vice Industry Token: Revolution in Porn industry


Introduction
There is no end to utilization of the decentralization offered by the blockchain.
The moving image technology, video, have existed for over a century now. While the technology made its advancement in the field the economic aspects of online video platforms remained stagnant specifically, the adult entertainment platforms. These platforms, initially when there was hardly any content online were paid as a subscription or a per view payment websites. With increase in the number of content providing platforms the quality of the content decreased and the industry ultimately shifted from 'paying to view' the content to being 'advertisement centred'. The acess to adult content is free for most platforms today but what if we tell you that there was a platform that will pay you to watch their content. 'Get paid to watch porn' - Vice industry token
Vice industry token is here to disrupt the growth of the adult entertainment industry by changing the current revenue model for the industry and decentralizing their platform.
Problem
  • The current adult entertainment platforms, being centralized and advertisement centred is dependent upon a lot of third parties like, Content producers, advertisers, advertising network and more. The 'advertisement network' adds too many hands in the pot which results in higher costs for producing advertisements and a costlier product ultimately. Since the content producers barely own the network and the online platforms, they are barely left with the revenue they deserve. Thus, the current system limits the revenue of the content producer which ultimately results in low quality of content production
  • Most of the 'free' online content is limited and doesn't fully cater the needs of the consumer. Only the advertisers and platform owners get to decide, which content is available for free and which is not. The system thus eliminates the needs of the consumers unless they are paying for the content.
  • Earlier when the online platforms had limited content, it was easier to get the viewers to pay for the content, but with more and more websites turning to advertisements for their revenue the system has been different for all the parties.The consumers are frustrated with unwanted advertisements and have to use ad-blocking softwares. This means that even the advertisements on such platform are rarely being seen, and thus the advertisers don't get the response they want.
Features of Vice Industry token
' Free was good, it's not just good enough anymore'- Stuart Duncan, CEO Vice industry token.
The ViceToken.com is being developed to change the monetisation scenario of the current adult entertainment platforms. Backed by many top names in the industry the Vice Industry token, aims to create a decentralised platform for distribution of online content that users want to see, while enabling them to get paid just for watching it.
The Vice Industry Platform, aims to create a whole new system of online adult entertainment industry and bring the content producers and consumers closer to each other. The platform will provide for producers to pay regular viewers and critics who provide valuable data/feedbacks directly in terms of Vice industry tokens(VIT). Which means that users will spend more of their time in watching the content they are likely to buy and provide feedbacks to the rest. Apart from this the content producers will be able to check and sell 'engagement data' to other platforms.
Conclusion
The Vice industry token platform seems appealing but at what cost? How will the platform earn its revenue? The ability of the platform to get the user engagement at the point of interaction, forms the 'Attention economy'. That is the platform will give user the content as well as tokens to watch their content and will simultaneously record proof of such interactions on the blockchain or any other immutable ledger. This information is further useful to content producers and suppliers to create the content in demand. I believe this is where the platform will get its revenue from, by selling this user information to the content producers.
There is no end to innovation in the blockchain. The system will generate revenue from selling user data to other platforms but I don't think it is any encroachment with the user's privacy. No true identities are available on blockchain data. The platform is a great idea to change the monetization and economic_ aspects of the industry.
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Published By: Kishan748

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