Playboy selling sex, for cryptocurrency. Hey guys, welcome back to G4B TV, the show responsible for bringing clarity to cryptocurrency.
Well, dare I say, grab your briefcases boys, cause we’ve gotta legal battle.
Pinup Parent company, Playboy Enterprises, best known for their salacious adult magazine
and beloved cult-figure founder, Hugh Hefner, is suing a cryptocurrency technology company.
The lawsuit accuses Canadian company, Global Blockchain technologies or GBT for short,
of fraud and breach of contract. Clearly, Playboy ain’t playing around. They claim
that GBT has done them dirty by failing to make good on an agreement that would integrate
blockchain technology into Playboy’s online media channels. As for the dirty details. The agreement was
reached fairly recently in March. And as part of the deal, GBT was supposed to implement
capabilities for the cryptocurrency, Vice Industry Token, for users on Playboy’s online
sites. However, allegedly GBT has failed to satisfy this agreement and has also failed
to pay $4 million as promised in part of the agreement. Of which, I’m guessing that’s
the part Playboy’s really butt-hurt about. So what’s the damage? So far we can’t
quite place our finger on it, Playboy is seeking unspecified compensatory and punitive damages
over the promise that turned out to be just a tease.
But don’t expect a passionate plea from GBT, In response, the accused offender has
shrugged off the suit by calling it a “normal dispute” between two commercial parties,
and further adding that Playboy’s perverted allegation of fraud is “frivolous.”
In May, GBT had previously announced that their partnership with Playboy on the wallet,
had included an interface to the different platforms. And so the summons may have come
as a shock, as GBT can forget about any hopes for any future invitations to visit the Playboy
Mansion. Of course, the mansion was sold for 100 million to a young beer brewing billionaire
last year, so, hey who cares. It remains to be seen, as to whether GBT was
just playing hard to get. In a statement given to the Los Angeles Times who are responsible
for breaking the news, the Vancouver based company gave a statement that, “Global believes
it has a strong defense to the action and will be vigorously defending [the] same.”
As part of the rocky relationship with GBT, Playboy had announced in March that it was
developing an online payment wallet meant to support a range of cryptocurrencies across
the company’s online media, digital and casual gaming businesses. In fact, Playboy.TV
was supposed to be the first of the company’s online platforms to showcase the new crypto
wallet. The plan for the wallet, was to allow Playboy to accept customer’s hedonistic
payments in VIT, or Vice Industry Token as well as other cryptocurrencies.
The Vice Industry Token touts itself as “The first, easy to use
cryptocurrency that pays people to consume media online
The way it works, People viewing or participating with media of any kind are paid, in VIT.
Therefore, free content is turned into paid content and so everyone gets paid. The Vice
Industry slogan, Get Paid To Watch Porn™, describes the immediate satisfaction given
to people using VIT. The tantalizing move by Playboy to flirt with
crypto, is part of a growing allure of many in the adult entertainment industry. The match
as what may seem, made in heaven for publicly shamed sexually charged businesses, is to
be expected. As cryptocurrencies offer new innovative ways of circumventing traditional
payment methods by replacing them with more private and anonymous transactions. Meaning
married men can finally stop sweating over their wives reading their credit card statements.
Of course, major pornographic competitors such as big name player, Brazzers have also
shared announcements in the past that they too are accepting cryptocurrency as form of
payment. Most notable was Pornhub’s highly publicized unveil of accepting privacy coin
VERGE, as part of their “The future has Cum” marketing campaign. But lesbi-honest,
even in the porn industry crypto is still prepubescent, as it remains a very small percentage
of payments as reported by these sites. In other adult-use investment news, Tinder
founders and employees have sued Tinder, or rather its naughty parent company, for 2 billion,
over hard feelings of being screwed by a low-ball valuation that negatively impacted the exercise
of their stock options. So, If you found any immediate satisfaction
in viewing today’s Quickie crypto news story, then don’t forget to tickle the subscribe
button and finger..click that notification bell so that you’re notified when I release
future arousing videos like this one. And if G4B TV is your guilty pleasure, then don’t
shy away from getting more intimate by following me on twitter at, G4B_TV. I also invite you
to weigh in with your own thoughts on the story in the comment section, down below.
It’ll be interesting in the future to see if the Beverly Hills-based Playboy, will receive
financial compensation for its blue balls as the result of GBT’s broken promises.
And on that note, I’ll see you next time.