Blockchain startup SpankChain has launch a payment tool called SpankPay. It’s a payment platform for the adult entertainment industry, serving both the entertainers and the viewers. SpankPay supports Bitcoin, Litecoin, Ethereum, Zcash and Monero. The payment portal takes 0.5 percent per transaction.
According to the official announcement SpankPay also support ‘most top crypto’ and tokens based on the ERC20 standard. SpankChain’s own SPANK token is also ERC20 based, and even though it’s not explicitly mentioned, it’s likely that SPANK is also supported. Investors who put their SPANK into the – I’m not joking – SpankBank, will be rewarded in BOOTY.
BOOTY is another ERC20 token used to tip entertainers on the Spank.Live video platform and to pay for transaction fees. Spank.Live will soon also incorporate the SpankPay platform, even though the platform is not very active and still in beta testing.
In recent years many adult entertainment platforms have had difficulty with banks or payment processors. Cryptocurrencies seem to be a reliable solution for their problems. SpankPay recognized these problems, and already partnered with JustFor.Fans and the Skype-powered cam platform SkyPrivate.
SpankChain’s own SPANK token went up 25% in value over the announcement of SpankPay. It’s now valued a little bit over $0.01.
Also published on Medium.