Non-fungible tokens or NFTs as they are popularly called, are on the verge of taking over the world. Billions of dollars seem to flow into the market every month with iconic tweets and memes being sold as NFTs and the industry as a whole getting more global attention. Given that practically everything can be turned into an NFT, it is no surprise that the industry is beginning to collaborate with the pornography sector. After all, millions of people watch porn on a daily basis, and thus, there is great potential for porn in the NFT sector.
From being burgeoning striplings, NFTs have become the ubiquitous poster child of decentralisation. Billions of dollars are flowing into this niche market. Iconic tweets and memes are sold as NFTs. Porn industry, like the soft-drinks industry, is trying to keep up with the techno-savvy Gen Zs, and hence they are turning towards NFTs. After all, millions of people watch porn, as per the data from google chrome’s incognito mode 😛 and thus, there is great potential for porn in the NFT sector.
This is where RarePorn comes in. RarePorn is a porntech company that is seeking to revolutionize the industry using technology, including Blockchain. RarePorn is also the first-ever NFT marketplace specifically for the porn industry. The company previously raised $2 million in a private sale and now, is eyeing an ambitious Initial Coin Offering in June 2021. Should it be successful, it will see the NFT market penetrate another industry as well as create more avenues for adult content creators to earn money for their efforts.
The Landscape of Porntech
The pornography industry has existed for decades and in the last year, in particular, has been shown to be quite essential to the world. As a result of the COVID-19 pandemic and subsequent lockdown, more people were confined to their homes and those, porn sites saw an increase in visits. Take XVideos, one of the biggest porn sites, that saw over 3 billion visits in April 2021 alone putting it in the same category as sites like Amazon or Netflix.
While this shows the importance of porn to the general public, more effort needs to be made to ensure that the content creators and performers are adequately compensated. These are the values that RarePorn is working towards as 30% of all the investments will be going towards research & development (R&D) and tech to revive the porn sector and create more innovation around it.
All porn that will be available through RarePorn’s platform will be ethically sourced which is a big issue within the porn industry at the moment and to do this, they have brought on board legendary porn star Manuel Ferrara. Issues will be addressed through AI and machine learning and in many ways, the power of blockchain will be leveraged to create a healthier and more inclusive ecosystem.
Even the viewers watching the content and participating in the ecosystem will be rewarded for their attention and time. This is in a similar vein to platforms like the Brave browser that has rewarded us for watching ads and it seems the porn industry will be getting the same treatment.
NFTs and Porn
We already know that you can get an NFT for a meme, a tweet, or your favorite song but what about clothing one by your favorite adult performers or for your favorite porn scene of all time? Thanks to RarePorn and their introduction of non-fungible porn tokens NFPs, this has become a reality. With NFPs, porn consumers can rest assured that creators are being properly compensated for their work and that they are buying a piece of porn history for themselves. These can be kept or resold depending on the needs of the user and a viable market has sprung out from this.
Take the first NFP that was sold by RarePorn which was of a video and the underwear of a porn actress Cléa Gaultier. The NFP sold for over $10,000 or around 2.5 ether tokens. The individual who bought the NFP has chosen to keep it in RarePorn’s vault in order to maintain its value but this clearly shows that the market exists.
Beyond the use of NFTs for porn, there will also be a new business model put forward by RarePorn that would allow fans of certain performers to tip them and subscribe to their regular content. Not only will the performers be paid, but some of the revenue generated will be rewarded back to consumers in a similar vein to the Brave browser.
Porn, for a long time, has been under the control of backend producers many of whom have engaged in shady practices. A system like this will put power back into the hands of the performers and allow them to manage their careers and finances.
Incoming Sale
To expand on these efforts, RarePorn is holding an Initial Coin Offering in June 2021 with the goal of raising $17 million. This effort has been backed up by their CEOs Marco Garniga et Nils Lataillade, who have previously worked on companies like Jumia and Amazon.
One of its biggest ambassadors is Manuel Ferrera, a popular French porn performer. Its previous private sale for PKN$ raised $2 million and now the public will be able to buy into it. This meeting of industries is not only emerging but considering how much digital content has been consumed particularly in the last year, the porn industry is clearly not going anywhere. Instead, it will see a revolution where content is more digitized, compensation is more equitable and consumers and performers themselves have more power.
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Source: https://bitcoinist.com/porntech-firm-rareporn-eyes-17-million-fundraising-round/?utm_source=rss&utm_medium=rss&utm_campaign=porntech-firm-rareporn-eyes-17-million-fundraising-round
