Australian adult industry startup Intimate.io is reportedly launching in a weeks’ time and its payment gateway is set to enable as many as close to 60 affiliate or partner websites accept Bitcoin, Ethereum and other cryptocurrencies. In addition, the company has a native token called ITM that will also be an option for all its partners’ customers.
According to Australian news media Micky, these partner websites are scheduled to be on-boarded slowly over the course of the first half of 2019.
Starting this week on January 31st, 2019, the payment gateway is enabling cryptocurrency payments for the Smile Makers Collection, a maker of sex toys and merchandise.
Smile Makers Collection will be able to accept bitcoin [BTC], Ethereum [ETH], Binance Coin [BNB] and Intimate.io’s ITM token. So far, Intimate.io has signed up 47 adult sites and organizations to accept cryptocurrencies in the near future including Sexpo, ClubX, Rendevu, the Eros Association, and various pornography, adult-dating, escort, and cam sites.
Over the past several months, Intimate.io has embarked on a rigorous marketing campaign to gain partners and customers for its services. The most notable strategy has been attending several adult industry conferences and events seeking to promote the project. It has been attending on average about 5 events a month. The highlight events for this month ware Xbiz Awards and Cybersocket Awards in Hollywood. Reuben Coppa, the CEO of the start-up is expecting to sign up an additional “15 to 20 partners off these latest events” in the near future.
Cryptocurrencies have had slow adoption in the adult industry so far owing to its complexity. However, Mr. Coppa believes that the industry is ripe for disruption. The method of choice for most visitors and customers of adult websites and customers is using credit cards such as MasterCard and Visa and to an extent, some allow payments in wire transfers. The downside to this is that it does not provide for anonymity. Further transactions with adult industry payment processors are extremely expensive as MasterCard and Visa consider these as high-risk transactions.
Introducing adult industry customers should provide them the anonymity that thy so crave at near negligible fees. Speaking to Micky, Coppa said that “Adult is the use case crypto has been waiting for.” He added that he also thinks that “crypto will save adult.”