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Playboy TV welcomes payments through Bitcoin [BTC] and other cryptocurrencies

Sthuthie Murthy

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Playboy TV welcomes payments through Bitcoin [BTC] and other cryptocurrencies
Source: Flickr

Playboy TV is next on the list amongst the most popular platforms to start accepting payments in cryptocurrencies. To begin with, they will start accepting a token called Vice Industry Token [VIT] which is at the ICO stage with a week’s time left for its commencement.

According to their statement:

“By the end of the year, a dedicated cryptocurrency wallet will be created.”

Play Boy TV

Play Boy TC is an American A rated premium cable and satellite television network owned and managed by Mindgeek. Their primary focus is on adult programming which includes motion pictures, first-run television series, and other specials. In a recent release about this topic, they declared that customers can view, vote or comment on their channel using Vice Industry Tokens [VIT].

Vice Industry Token [VIT]

It represents a profound change in the broadcast and on-demand video entertainment industry and has two functions: Video entertainment platform and a cryptocurrency. It has gained more than $16 million through their ICO till date and its usage allows real user engagement tracking on different adult content websites. This token was created originally to permit users to buy adult content using cryptocurrencies with major benefits.

A lot of companies are headed towards digital wallets and tokens one after the other including the software giant itself, the Microsoft.

The Chief Operations officer, licensing and media for Playboy enterprises, Reena Patel stated:



“As the popularity of alternative payment methods continues to grow around the world, along with the reach Playboy’s digital platforms, we felt it was important to give our 100 million monthly consumers increased payment flexibility.”

The dedicated crypto wallet will be launched sometime later this year. This wallet will support multiple currencies across the organizations, casual and digital gaming business and online media. This will be a breakthrough because Playboy TV will be the 1st ever media platform that will feature a digital wallet to accept payments.

As a long-term vision, the company also looks forward to integrating cryptocurrency in its other initiatives in the future. If the results are good, Playboy hinted that they may use the cryptocurrency wallet within its other services such as gaming, augmented reality and VR.





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

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Bitcoin

Bitcoin [BTC] surges above $5,500 and breaks major resistance level; collective market rises

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Bitcoin [BTC] surges above $5,500 breaking major resistance level; collective market surges
Source: Pixabay

Bitcoin [BTC] broke out of its sideways trend that saw coins fall after a brilliant start to April. This “break-out” is especially significant since it came days after the coin was trading sluggishly, pulling the market cap below $175 billion.

After breaking the $5,200 level on April 16, the coin held steady, showing no noticeable dips. However, it also began losing the momentum it had gained when it rose by 15 percent on April 2. Many saw the past week as Bitcoin losing steam, opining that a drop to as low as $4,000 would manifest. This pessimism coupled with the delisting dilemma saw the global market decline by 3.31 percent over the past weekend.

Given this backdrop, the present Bitcoin price incline was even more bullish for the collective market. Further, this was not just an effort to shrug off “sideways bears,” but instead, two key levels were broken in order to usher a collective market rise and sustain BTC bullishness.

Source: Trading View

RESISTANCE

The first, as indicated by eToro’s senior market analyst Mati Greenspan, was the resistance level of $5,350. When Bitcoin began to consolidate following the early April high, Greenspan stated that if the BTC price were to punch above the aforementioned level, it “would likely serve as confirmation that we’re pushing higher and will lead to further buying pressure.”

Greenspan stated that the $5,350 level acted as a major support level throughout 2018. Hence, it is incredibly important that Bitcoin surge above it in the next rise to consolidate buying pressure. Another important point to signal the coming of a bullish market was the 200-day moving average which Bitcoin has stayed above since the April 2 rally.

PSYCHOLOGY

The other significant level for the collective market is Bitcoin’s ascendance over $5,500, which it managed courtesy of this rally. Many, including Greenspan, pegged $5,000 as a key psychological level for the coin and hence, the rise above $5,500 less than three weeks after $5,000 was broken will bring back optimism to the BTC market.



Further, as was seen in the April 2 rise, the Bitcoin pump resulted in the king coin increasing its market dominance. At the close of March, Bitcoin was edging closer to losing the majority. However, the rally saw its share increase to 52.4 percent within a day. Following this recent 4.61 percent increase against the US Dollar, the king coin’s dominance increased to 53.2 percent.

Given the elasticity of the collective market to changes in Bitcoin’s price, the market was awash in green as Bitcoin broke the resistance and psychological levels. Amid this bullish charge, some coins stood out for their above-average gains, which included Bitcoin Cash [BCH], Cardano [ADA], EOS [EOS], Litecoin [LTC], and the exchange-ousted Bitcoin SV [BSV].





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