Fans of cryptocurrency Verge (XVG) have been waiting weeks for Verge to announce the new partnership that will overshadow everything in the crypt domain. Now it has become clear that the partner is just Pornhub.
In March, Verge announced that the company could enter into an unprecedented crypto partnership, but Verge will have to raise $ 3 million to finance all of the partnership’s costs. Through a crowd sale, Verge also managed to collect the $ 3 million in Verge (XVG). The whole action seemed a bit strange. Because allegedly the partnership came about when Verge really manages to collect the $ 3 million.
However, if the partner is a mysterious partner, Verge did not want to announce it until April 17 at 4 pm CET. But already a few hours before it is known that this is Pornhub. Because under the domain Pornhub.com/crypto there is already first information about the partnership. In short, Pornhub users can now pay for their subscription or Pornhub cost via Verge (XVG). At least that helps, however, that Pornhub does not appear on their own credit card statement. To the partnership, there is also a pretty funny video:
Pornhub has approximately 3.6 billion visits per month worldwide, making it the leading adult content provider. Sure, it also makes sense that users will be able to pay for their Pornhub costs by cryptocurrency in the future, but whether this is the big breakthrough for Verge remains questionable.
In the past there have always been technologies that have prevailed, because the adult content industry has adapted the technology first. As a recurring example, there is the video format Betamax and VHS. Although Betamax is technically superior to the VHS format, VHS prevailed at that time. At first, many believed it was because the Adult Film industry released their films on VHS, but later it turned out to be just one of many reasons.
Finally, Pornhub, the mysterious partner, is going to frustrate many investors, after all, names such as Alibaba and Amazon have been discussed among fans. However, many neutral observers already knew in advance that this could almost be ruled out. Although the partnership with Pornhub has not yet been formally announced, XVG’s share price has dropped more than 15% in the last 2h.
The VP of Pornhub Corey Price says:
“Here at Pornhub, we’re all about convenience and security, which makes cryptocurrency an attractive form of payment for us. We’ve been looking at crypto for quite some time and, while overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.”
Verge founder Justin Sunerok says:
“This partnership represents an enormous market with a global reach that will compete with fiat currencies. It’s huge for Verge and we’re extremely excited to finally be able to announce it.”
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