Exclusive Interview with VRPorn.com After Litecoin's Partnership
A week ago, VR Porn announced the introduction of Litecoin as a method of payment in order for users to benefit from anonymous and easy transactions with low fees and no middleman.
In an official statement, VRPorn.com said:
"VRPorn.com chose Litecoin as the first cryptocurrency we’re accepting because it’s a top-tier coin with unique benefits for the user. Litecoin’s fast confirmation times, low fees, and liquidity make it ideal for payments. Litecoin also has a great development team and community behind it. Also notable is that Litecoin has a very secure and robust network. It’s one of the longest-running coins and has an immense amount of hash power behind it."
VRPorn.com is the biggest virtual reality site with almost a thousand full VR experiences. CoinLive took the opportunity to interview Lisa Moore, COO of VRPorn.com, to help us gain further insights..
- How does the introduction of Litecoin help VRPorn.com business prospects going forward?
The introduction of Litecoin serves a whole new customer segment, and creates a new compelling payment option for our returning users. Crypto is really perfect for adult. We talk more about the decision to choose Litecoin here.
- Could you provide in a nutshell what type of business growth have you experienced ever since the inception of VRPorn.com? What’s stopping further adoption of the VR technology in the porn industry?
The company has grown incredibly fast. We started off as a personal VR fan blog in 2013. Now we're the highest traffic VR site with millions of monthly users. One can check VRPorn stats in the following link. VR will continue to get better, cheaper, and easier. As it does, VR adoption will continue to increase. Smartphones barely existed a decade ago. Now, you can easily find a decent smartphone for $50 and run almost any type of app. We think the same shift will happen with VR as time goes on.
- Where do we stand In VR advancements in general and as a result how much room there is for further improvements in the technology to make both VRPorn and the adoption of Litecoin much more widespread?
VR has come a long way in just the past few years. Quality, cost, and convenience are improving exponentially. But this is still just the beginning. We are at less than 1% of the adoption rate that we will eventually see. I think it’s a similar story for Litecoin and cryptocurrency.
- It is often said that the porn industry tends to be one step ahead when it comes to the adoption of new technologies due to its need to protect users’ identity and its practicality. What’s your take on the idea that the porn industry has a tendency to embrace cutting-edge technology before a more widespread adoption, in this case, of the blockchain technology?
Porn often helps drive technology. This can be seen in VHS, the internet, virtual reality, and now cryptocurrency. VR porn is the perfect place for crypto to grow because the users are tech-savvy and eager for anonymity.
- Are you currently in talks or planning to introduce further crypto payment options to VRPorn.com subscribers?
We started with Litecoin since it was the best choice for the first coin to accept. We are considering other crypto payment options.
- Could you walk us through what the process was like from the moment you considered accepting cryptos as a method of payment until the announcement of Litecoin as the first crypto payment option?
The process was surprisingly painless. In a lot of ways, it’s actually easier to set up crypto than it is to set up credit card or Paypal, especially for adults.
- Was the Verge–Pornhub partnership what changed your perception to consider cryptos?
We were planning to accept cryptocurrencies for a while. The Pornhub announcement just came as a pleasant surprise.
- How much does the average subscriber tend to spend a month on the services/products you offer at VRPorn.com?
Our site is based on a subscription model. Members pay $19.95/month to gain access to our library of over 800 full VR porn videos and games from multiple studios.
- Are you personally invested in cryptos? If so, could you mention some of the crypto assets you see the brightest future for wider adoption and usage rate?
Some of us have crypto holdings, and we are all very excited about the future of crypto. But from a business perspective, we want crypto to really work, not just be a speculative investment, because it has such huge benefits as a method of payment in this industry.
- How do you see the trend in the adoption of cryptocurrencies and tokenization of all types of services, products and securities in the global economy playing out?
That's a big question. I don't think that anyone knows exactly how things will play out, but there's no doubt that cryptocurrency is going to have a huge influence on the global economy in the coming years.
- Do you believe the rest of the porn industry will follow suit by accepting new methods of payments via cryptocurrencies. It seems as though the introduction of Verge by MindGeek conglomerate has set into motion an unstoppable trend as seen back in the old days when video cam was first adopted by porn sites. What’s your take?
Yes, it's likely that others in the industry will follow suit. Cryptocurrency is clearly the perfect payment solution for adult. The main problem is that it’s still not very widespread amongst users, and the trends show that problem is gradually being solved as well.
- Pornhub accepted Verge as a payment option for all Pornhub purchases excluding recurring subscriptions due to the inherent risk of the volatility of the price of cryptocurrencies. Will VRPorn take a similar approach? Do you find the major price fluctuations as an impediment for adoption?
Yes, recurring subscriptions are not available with our crypto option. I’m not sure how we’d be able to set that up technically, regardless of the issue of price volatility. Yes, price fluctuations are generally an issue with the adoption of cryptocurrency as currency as opposed to investment.
- How do you mitigate the volatility in cryptos since I assume VRPorn.com expenses are in USD and they need to convert to fiat, do you convert directly as the payment is made or do you have a different strategy in place?
We’d love to go 100% crypto eventually, but currently, it just gets converted to fiat. It’d be so nice to be able to handle everything with cryptocurrency, including payments to partners and vendors. But we’re a US company, and there are a lot of accounting & legal headaches to figure out first.
- Are you preparing any special marketing campaigns to spread the word on this new partnership? What type of actions are you taking to raise the awareness of this milestone for LTC?
Yes, it's a big deal that crypto and VR are finally coming together tangibly, and we've been working hard to spread the word. We're in discussions with a number of different news outlets who are interested in covering the story. Charlie Lee himself even tweeted about the event. The news has started spreading and we think it is a development that many are watching.
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