on June 28th we saw the launch of the Vice industry token platform . The platform which is a fork of the blockchain based social media platform Steem allows users to get paid for watching porn.Is it as simple as that and how does it work.
The main portal into the platform will be touch.tube and this will be where a users main VIT wallet will be located.Within the portal users will be able to view adult content or visit other sites that are affiliated with Vice such as playboy and stormydaniels.All interactions within the network are linked to your wallet to record your participation.As porn is now a free concept the method to capture user engagement needs to change.Vice does this by rewarding people for watching porn within its network with newly created VIT.
So how do you earn VIT
similar to how steem works you aquire VIT from an exchange and within the vice network you vest this VIT also known as locking up into VIT power.When you consume content you can then choose to upvote the content which reduces a portion of your VIT power.This power replenishes at a rate of 20% a day so your vote doesnt actually cost you any money just time.Upon every block of the VIT blockchain newly created VIT is placed in a reward pool and this is then distributed to the content creators and the people that have upvoted the content.
The benefit of this process is the more VIT power you have the more you earn of the rewards pool for upvoting content as well as the earlier you vote for content before its become popular the more you earn
The VIT you earn can then be converted to more VIT power to increase your earnings or spent on premium services within the platform or converted to Bitcoin or Ethereum.Vice are also looking to integrate fiat gateways into the platform to enable the conversion in and out of major currencies.
This concept of being paid to watch porn is however not the big picture.The Vice Industry Token's true aim is to become a platform where users get paid for engagement in all media from gaming and music to films and tv and even advertising.
We live in a world full of so much free or discounted content from kodi and torrents to netflix and itunes it is becoming more and more competitive to keep users within a service
if users can be paid by a free market solution whose value is attributed to what the market thinks it should be priced this can benefit content creators and viewers alike.Only time will tell if the platform will be a success however who doesnt like something for free
