Cam Girls Earned Over $70K Through Spankchain Since April Launch

 

In a statement released to CoinDesk  this week, SpankChain (SPANK), the Ethereum token built for the adult  entertainment industry, announced that they have paid their models  $72,422 since their launch in April. 

In a few short months, the platform  has attracted over six thousand active users and thirty-one regular  performers. Since the platform works on a  blockchain, SpankChain (SPANK) is able to cut out the middleman that  typically stands between the performers and their fans, allowing the  performers to make more money than ever because they no longer need to  split their profits with the platform. 

Traditional cam sites typically  charge models 50% or more to use their platform, while SpankChain  (SPANK) just charges a 5% service fee. Cam model River Sunshine told Coindesk:   

“I crunched the numbers. I was making on three sites combined, 6  percent of what I made in the same 30-day period on SpankChain. I feel  more in control of my money than I did using the banks and payment  processors on other sites.”   

Spankchain also allows performers  and their fans to have a stake in the platform by giving them the  option to hold their tokens to earn rewards. Another performer, Molly Mae Meow, said that SpankChain has changed her mind about cryptocurrency. Mae Meow said:   

“I think a lot of members appreciate that I’m getting almost the  whole amount of it. I was a little skeptical about all of it at first.  But now I really, really love crypto. Giving models that much power in  your site can be very beneficial. You’re not just working on the site,  everyone on the site is also working for you.”   

Proof of Concept

Earlier this month, CryptoGlobe  reported that activists and journalists who were facing censorship  through traditional channels are finding a new home in decentralized  blockchain-based platforms. Adult entertainers and sex  workers are facing similar challenges as they regularly lose access to  payment channels like PayPal or Patreon, so now they too are finding a  new home on the blockchain. SpankChain (SPANK) offers a  censorship-resistant platform in an industry that desperately needs it,  making it one of the most interesting use-cases in the cryptocurrency  market. 

Just this week, adult entertainers across the US found their  PayPal accounts locked and funds frozen after extremists known as  "Incels" started a campaign to report sex workers and models to  regulators and payment processors. 

SpankChain offers a solution to  problems like this because on a decentralized platform there is no  middle-man to freeze your funds. Since SpankChain (SPANK) is a  disruptive technology in a taboo industry, some investors have voiced  concerns about problems from regulators, especially because SPANK had an  ICO. 

SpankChain (SPANK) CEO Ameen  Soleimani believes that since the company never promoted the project as a  money making opportunity, which should keep them safe from scrutiny. Soleimani made a statement in the  Discord channel for the project saying that the team “never discussed  price appreciation of the token” and “deliberately tried to keep SPANK  off the major exchange,” to avoid issues with regulators.