Adult platform SpankChain launches payment service

Ethereum-based adult entertainment platform, SpankChain, has launched a crypto payment processor along with two new partners.

The announcement, published on July 31, shows that the new service, called SpankPay, is launched along with its first two integration partners: JustFor.Fans and SkyPrivate, an anonymity-oriented platform for adult entertainment fans that connects models and their customers through Skype.

At the same time, the SpankPay commission for merchants will be 0.5%, which is significantly lower than traditional alternatives.

Related: Burger King Venezuela now accepts crypto payments

Recall that the 1st product of the platform was the service SPANK.live, which pays out webcam models for remuneration in its tokens. Note that SpankChain paid 30 webcam models $72,000 in SPANK tokens for the seven months of the project’s existence. According to several web models, they earn more on SpankChain than on popular platforms with adult content.

Recall that in October last year, hackers took advantage of the vulnerability and stole 165.38 ETH (about $38 thousand) from the platform, and also blocked BOOTY tokens for $4 thousand. But then the platform managed to return the funds.