MindGeek, which is by far the largest online company dealing with adult entertainment, has officially chosen Verge as an exclusive cryptocurrency partner to add to its online payment options. Hours before the big announcement, interest in Verge (XVG) currency began to soar making it the most exchanged altcoin for some time on popular cryptocurrency exchanges. In this time period, the privacy-focused cryptocurrency rose more than 22%.
Just last month, Verge announced a crowdfunding campaign asking investors for a donation of 75 million XVG to secure the partnership which could not be announced due to an NDA agreement amongst the company and MindGeek. While it came with some controversy by detractors, this latest venture proved to naysayers that Verge remains on track to become a highly popular cryptocurrency.
While the name itself may not be familiar to most people, MindGeek is a virtual empire that includes nearly every big name in the online adult entertainment industry.
In a recent interview Justin Vendetta, the founder of Verge, he told the audience that the partnership would represent, “an enormous market with a global reach that will compete with fiat currencies.”
Many sites under MindGeek will begin to accept Verge - the most popular of those being PornHub and Brazzers. They will also be accepting it at Nutaku.com, which is a very popular adult gaming portal.
Corey Price, who serves as Vice President at Pornhub, said in a recent statement,
“While the adult industry is becoming more mainstream, there are still a lot of people who prefer to be secretive or private about it. By accepting crypto, we are making the purchasing of content even more secure, which will appeal to those people. With the added incentive, we expect to see an uptick on the purchasing of content.”
MindGeek isn’t just a powerhouse for online video and gaming, they also own numerous production studios such as Playboy TV and Spice TV. The entertainment giant is an international company headquartered in Luxembourg with offices in Bucharest, Nicosia, London, Montreal and Los Angeles. To put their size into perspective, the company sees over 115 million visitors, over three billion ad impressions and rakes in over 15 terabytes of uploaded data on a daily basis.
This is an exciting moment for not just Verge, but for cryptocurrency as a whole as this is one of the largest partnerships to hit the crypto-market and will expose millions of non-crypto users to the technology daily.