Get Paid to Watch Porn? Vice Industry Token Raises $22m in 24 hours

Blockchain company, Vice Industry Token Inc. announced on Tuesday that it raised USD 22 million in Ethereum less than 24 hours after launching the crowdsale of its cryptographic Vice Industry Token (VIT).

The blockchain-based platform for adults rewards fans with VIT for simply watching content. Viewers can redeem tokens for discounts on premium content and “other services from leading websites.” Vice Industry partners include major industry brands Penthouse and Exxxtasy.

Paid Whitelist Reservation 

To combat the dominance of “whales” in its ICO and allow its significant community support base to have the best possible chance to participate in the token sale, Vice Industry operated a paid whitelist reservation system for its token sale, says its statement. Participants paid a fractional amount of ETH based on the total value of tokens they intended to purchase. Within 24 hours of announcing the reservation fee, the company had received whitelist fee payments in excess of USD 200,000, says the statement.

Token Refunds

The VIT sales contract includes a refund functionality. After the crowd sale ends, buyers can either claim their proxy tokens or request a refund, says the statement. The refund function was introduced in order to offer early buyers the opportunity to use and experiment with the platform. It will expire on June 28, 2018 when the mainet will be live.

Crowd Sale

The crowd sale continues until March 20, when buyers will receive their VIT ERC-20 proxy tokens. Two billion of the four billion tokens generated will be available for sale to the public during the sale, according to the statement.  Proxy tokens, redeemed for premium content and products provided by approved VIT merchants, will be available immediately after the crowd sale.

“We are excited to see the positive response to our groundbreaking platform through our token sale,” said Vice Industry Token Inc. founder and CEO Stuart Duncan, in a statement. “Major international producers of adult media have decided that a community currency is just as valid as fiat for their business. This is where blockchains are taking the world.”

See more at: https://vicetoken.com/

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