SpankChain is not your typical startup. It’s actually centered around porn and it managed to raise $6 million for its ICO back in 2017. Maybe not being a typical startup or ICO is just what SpankChain needs to make it nowadays.
SpankChain has managed to differentiate itself from its ICO and actually deliver a stable, usable platform for many users. Since the site launched in April to late October, it has paid over $70 000 to over 30 camgirls. Some of the camgirls are actually making more on SpankChain than on any other porn site out there.
A camgirl by the name of River Sunshine said that she is in the business for over 5 years now. The model stated that working on 3 websites simultaneously earned her 6% of her current profits from a single month on SpankChain alone. Molly Mae Meow has been in the business even longer and she also makes way more money on the porn startup than on mainstream porn sites.
The key reason for camgirls getting so much money off SpankChain is that it charges only 5% of the models’ earnings. Traditional sites usually charge between 40 and 50%. Sunshine and Molly are now prime examples of how crypto can help camgirls take more of their earned money.
SpankChain gives users the option to become HODLers
The girls will usually cash out the SPANK tokens for weekly expenses and keep the majority of crypto as a long-term investment. If this same system was used by camgirls exactly one year ago, they would be making more in a day than the highest paid porn actresses. Even now, despite the very harsh market conditions, SpankChain has over 20 new performers signing up each week.
There are of course many questions about how legal everything is, especially in the United States. Ameen Soleimani, the CEO of SpankChain used to company’s public discord to assure users on their safety from regulators. He stated that there are absolutely no concerns about regulators hindering the growth of SpankChain’s ecosystem. That’s because the developers are keeping the token off major exchanges and they never discussed price appreciation for the token.
SpankChain’s CEO also commented that his company was not in any cotact with the United States Securities and Exchange Commission, but he would be more than happy to cooperate with them if the need ever arises.
The tokenized holdings however, are not the sole reason camgirls are joining SpankChain. Models having more control over their assets is great, but SpankChain also gives far more room for creativity. Mainstream porn sites, usually work with credit card processors and they ban many of the fetish performances like fake blood, roleplay etc. Models on SpankChain can do many such shows without any fear of being shut down.
Many performers were also affected by the SESTA-FOSTA bill, which passed through Congress earlier this year. So models on SpankChain are more than happy to have control over their own cash out process. The site’s system allows for instant access to funds due to not having to deal with credit card chargebacks.
One of the biggest benefits for performers is that they have freedom to shape their own shows. This means that even if they decide to do a reading or cooking show, no one can force them to do otherwise. The freedom and growth achieved in this sector alone is just a glimpse of what crypto can do for the entire world.
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