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PornHub Now Accepting Verge Cryptocurrency
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PornHub Now Accepting Verge Cryptocurrency

Adult entertainment website Pornhub has announced that it will begin accepting the cryptocurrency verge as payment. The company detailed its move in a blog post and accompanying video, saying that it will take the token for its premium services as well as other available purchases.

Beginning today, Pornhub will accept Verge as a payment option for all Pornhub purchases such as Pornhub premium, HD and on-demand services and merchandising, but not recurring subscriptions.

According to Pornhub, the kick-off will be marked by events in New York City and Silicon Valley.

Pornhub VP Corey Price added in a statement:

“Not only is this an exciting announcement for us and the adult entertainment industry, it’s exciting for the crypto space. History has proven that the adult entertainment industry plays a critical role in adoption for innovative technology. We saw that with VHS, Beta Max, credit card payment icons and, most recently, VR goggles. We expect to see widespread adoption of crypto and blockchain in short order.”

Verge’s backers previously stoked speculation about its “mystery deal” earlier this month, and in March moved to collect donations in an effort to push ahead with the partnership.

According to Price, the partnership came about after Pornhub “approached [the Verge team] in a very deliberate selection process.” He also cited the cryptocurrency’s user base and a recent online push on its forums to accept the coin as payment.

Price said:

“We’re extremely excited to offer our fans the ability to use crypto and think Verge, with its focus on anonymity, is the best option – whether for privacy, convenience or both,”

This partnership caused the price of Verge to skyrocket this week, and it will surely go up as this news breaks around the internet. Once the porn industry embraces a technology, that technology tends to begin to thrive. It’s too early to tell if this will set Verge up for success previously experienced by Bitcoin and Ethereum, but it will certainly shake up the cryptocurrency world as investors see Verge succeed as the chosen payment option of an industry that tends to set the curve.

During the period of the announcement, Verge demonstrated the largest pump in the market throughout the week, as it surged by more than 40 percent within a 12-hour period. Once it was revealed that Verge partnered with Pornhub, the price of Verge (XVG) plummeted by more than 37 percent. Initially, the price of XVG surged from 1,000 satoshis to 1,400 satoshis, as the community anticipated the finalization of the large partnership. Immediately thereafter, the price of XVG plunged from 1,400 satoshis to 888 satoshis.

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