Pornhub Verge
Cryptocurrency

Verge, Pornhub and MindGeek – Biggest Crypto Partnership Ever?

Verge is a ‘privacy’ token that has a controversial past. On March 20th 2018, Verge currency announced that they were crowd funding 75,000,000 XVG (Verge). If the goal was reached it was said that Verge would announce a new partnership, which was said to be massive. Verge Currency stated that this partnership, and the global marketing campaign that will start alongside the announcement, would change crypto. The funds were not raised fast enough, so the announcement of the major partnership was severely delayed, but it was set to be announced on the 17th April, 2018. 

Verge Currency kept their word, and announced their new partnership today. This surprised a lot of crypto enthusiasts, who were expecting an exit scam. 

Pornhub Verge

Verge Currency’s massive partnership is with MindGeek. MindGeek is an internet pornography company that owns loads of sites such as Pornhub, Brazzers etc. So far, the extent of this partnership is that Pornhub, and other MindGeek sites, will be accepting Verge as a payment method. The main announcement was that Pornhub will be accepting Verge Currency. You can watch their announcement video on Youtube. 

If you look at this announcement with no context, it is great for cryptocurrency development. MindGeek is a massive company that has a huge amount of website traffic – and them accepting cryptocurrency as a payment method is a great way to increase exposure to a new audience.

However, the price after the initial announcement shows the communities sentiment towards this announcement. Keep in mind that up until the announcement the price was rising, despite numerous problems with this coin including a 51% Hash rate attack, and the fact that it’s not really a privacy coin. This is due to the ridiculous amount of hype that was building around this announcement in the community. This hype was lead by the developers bigging up this partnership. 

Pornhub Verge

 

Other websites have been accepting cryptocurrency payments for a long time now, and none of these coins had to raise massive amounts of money in order to make this happen. Which raises the question, why did Verge need to raise millions of dollars in order to make this ‘partnership’ happen?

As of now, all that is clear is that this is a new payment method for Pornhub. Realistically this really does not increase the demand for Verge currency. Perhaps this partnership has been over-hyped. 

Our general take on this news is that this is a big move in the cryptocurrency space, but the Verge team were very disingenuous about the partnership – as this definitely does not change cryptocurrency. It is of course possible that more is going to be announced in the future regarding the partnership here, but keep in mind the history of this coin. It is good news for the cryptocurrency space that Verge did not exit scam. It was often speculated that this would occur, as the team raised a significant amount of money and the community does not have faith in the developers based on their history.

 

Check out our post about QASH!

 

 

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