Playboy Enterprises Moving into Cryptocurrency by Creating Online Wallet

Playboy Enterprises is interested in the cryptocurrency sector. Did you ever think you would see that sort of headline? I didn’t, but I can definitely see the value of a company such as Playboy offering cryptocurrency services.

Playboy Enterprises and Cryptocurrency: A New Found Friendship
Founded in 1953 by Hugh Hefner, Playboy Enterprises published a post on its website yesterday, which states the media company will be developing an online wallet for its customers. What will the online wallet entail? Well, according to Playboy, the online wallet will allow for its customers to use cryptocurrency to purchase the company’s online media.

Even though some people might be taken back to see the company investing time and resources into the cryptocurrency industry, the Beverly Hills, California-based company isn’t actually the first adult entertainment company to move into the crypto sector. In fact, in January, Bunny Ranch, which is a famous brothel, disclosed that it was thinking about adding Bitcoin (BTC). Bunny Ranch’s interest in the virtual currency stemmed from the fact that there are “some of the richest men in the world” coming to the Bunny Ranch brothel, and owner Dennis Hof has heard a number of requests from these men for the institution to start accepting Bitcoin.

According to the Chief Commercial Officer of Playboy Enterprises, Reena Patel, the company believes cryptocurrency gives “the millions of people who enjoy our content” more choices in terms of payment, “and in the case of VIT, an opportunity to be rewarded for engaging with Playboy offerings.”

How’s the Cryptocurrency and Bitcoin Sector Doing?
Meanwhile, while more and more companies start investing time into incorporating virtual currencies into their business models, the sector itself is struggling to stay afloat. Specifically, Bitcoin has found itself in some deep water, dropping below the $8,000 mark earlier today.