Current State of the Industry
The adult entertainment industry continues to embrace blockchain technology and cryptocurrencies because they incentivise users to continue consuming content securely and facilitate traceless digital coin payments. The adult industry is estimated to generate over $100 billion dollars in revenue each year. However, despite this huge market, some established players, particularly in payment facilitation, such as Visa and Mastercard, do not yet fully want to associate themselves with the generally alienated sector.
The impact that such narrow approaches have is significant and negatively impacts millions who work, earn their livelihood, and contribute to the broader economy for instance content producers, actors, and manufacturers of adult novelty products. Typically, in order to make or receive online payments, they must always use an intermediary financial institution and the downside to this is that the associated commission fees can be exorbitant, and people’s identities are directly linked to their personal activities which leaves many people vulnerable as was clearly witnessed during the Ashley Madison scandal.
To highlight some other problems the adult industry is faced with constantly, we have to consider the fundraising mechanism currently available to entities operating in this sphere. It is cumbersome for companies to secure the necessary backing to scale operations, generate jobs, contribute to the tax economy because typically, only a small number of banks or institutions that want to publicly support adult entertainment. Companies operating in the sex industry often experience discrimination and therefore find it extremely difficult to get access to financial services. Many industry experts have mentioned the fact that many entrepreneurs report having experienced mainstream bias from financial institutions that discriminate against them on unsubstantiated and often ignorant grounds.
The anonymity of cryptocurrencies have apparent advantages for the sex and adult industries, some which even go beyond privacy which is often the most talked about benefit. Blockchain is seen as a more efficient trust and safety reputation system to protect people and using a cryptocurrency like EXO allows users to keep their identity hidden and consequently their reputation protected. The sex tech and adult toys market presents challenges that potentially innovative companies such as ExoLover can solve and with adult content making up more than a third of all internet traffic, issues of piracy are some that require urgent attention. ExoLover, among other companies in the space are already coming up with solutions to these problems.
The Future of the Adult Sex Toy and Entertainment Industry
Recently, even porn star Stormy Daniels who is popularly known for allegedly having an affair with President Trump revealed plans to add cryptocurrency options to her website and her recent partnership with the Vice Industry Token to reward site visitors for viewing content with digital tokens is seen as a monumental mark of how mainstream crypto will likely go. The anonymity of cryptocurrency payments is key for the adult industry and ExoLover is determined to grow the initial market to allow their adult wearable technologies to develop to the point where they’re ready for the mainstream adoption.
Storage security and data encryption, along with the elimination third party financial institutions will create a safer working environment that will attract more talent to the adult scene so ExoLover hopes to provide that platform for millions across the globe. The company will also bring more equity to an industry that is typically deemed as discriminatory. The benefits that blockchain is extending to this segment of adult entertainment are truly groundbreaking and are transforming the sex industry as we know it.
The adult entertainment industry has always been a driving factor in the promotion and adoption of emerging technologies and ExoLover is simply taking things to a new level with its impressive tech. By focusing on online secure payments and haptic interface design, coupled with blockchain the company is set to become a powerful disruptor across this industry. Some of the major advances will be centered on protecting not only the identity of the adult star, but the people purchasing adult content or sex toys. It is predicted that between 30% and 60% of all adult content sites will be accepting payments in crypto by the end of this year. Some of the elements of Sex Tech that will certainly be influenced by the Blockchain are video streaming, content hosting, and distribution optimization for sex toy companies.
The use of Smart Contracts to personalize content and better incentives such as the EXO User Reward System will unlock bonuses for content providers when the smart contract conditions are met. Tips will also be payable to the providers Exo Wallet address which also means that fraud prevention will certainly be improved.
Although during some research conducted by the ExoLover team, it was found that many adult performers are worried that some of the sites which accept crypto are not doing enough to educate their content creators on how to exchange their crypto tips into a fiat currency or secure their earnings in such a volatile market. This is why ExoLover has taken the initiative to not only focus on developing the decentralized platform but to also become a thought leader in the blockchain space by sharing some of its findings with the community.
Some potential investors have also highlighted their fears with regards to the increase in ICOs that do not seem to be tech or content driven, but instead are motivated purely by the prospect of pecuniary gains. ExoLover on the other hand is a project that has been in the works for almost a decade and through the years the team has been setting up partnerships with sex toy manufacturers to help bring their ideas to life. Going down the crowdfunding route is simply a means to expedite the process and give an opportunity to the public to participate in the process of bringing such revolutionary tech to the world and potentially reap benefits as well in the form of a return on their crowdfunding contributions.
Questions around how blockchain will improve the offline distribution of hardware in the adult industry have also been raised and ExoLover is well aware that blockchain would significantly aid in fraud-proofing the distribution process by the creation of immutable logs which would also assist in preventing hacks or shipping data manipulation. Blockchain technology can track and offer better quality assurance and for a company such as ExoLover this is crucial since their devices will work exclusively on the Exo platform and they would need to ensure that the right customers receive their futuristic products in a reliable and secure fashion.
About ExoLover
ExoLover Pty Ltd is an Australian registered company engaged in designing, developing, manufacturing, marketing, selling and licensing patented and proprietary intellectual property rights related to its ExoLover Suite of high-tech adult sex toys. The patented state of the art wearable technology realistically emulates perceptory, acoustic, somatic, visual and haptic stimuli allowing users to interact remotely over the decentralized blockchain ExoLover Platform. With ExoLover, users can connect and indulge in their most intimate fantasies in complete privacy while investors stand to yield high ROIs due to the growth potential of blockchain technology adoption.
Token Distribution
A billion EXO Tokens will be produced and 700K EXO Tokens will be sent for exchange on Pre-Initial and Initial token distribution. The Pre-Initial token distribution started on May 29. For more information on how to get involved or acquire token please visit the website.