SpankChain Has Paid Camgirls $70,000 Worth of Crypto in 6 Months

Since raising $6 million in a 2017 initial coin offering, porn startup SpankChain has differentiated itself from the token-sale pack by actually delivering a platform with thousands of users.

Revealed exclusively to CoinDesk, SpankChain boasted 6,136 active users as of October, and has paid roughly $72,422 in cryptocurrency to 31 webcam models since the site launched in April.

Several freelance SpankChain performers say they are now earning more on SpankChain than any mainstream porn site.

Speaking to how "Staking" SpankChain tokens on the platform, or locking them up and earning rewards for letting those tokens fuel the network, offers models a way to essentially control something comparable to equity.

SpankChain CEO Ameen Soleimani told token holders, via the company's public discord channel, that he's not concerned about regulators hindering the ecosystem's growth because the team "Never discussed price appreciation of the token" and "Deliberately tried to keep SPANK off the major exchanges."

Instead, the webcam site is essentially a proof-of-concept for SpankChain's crypto payment processing, using SPANK's stake system, which Soleimani hopes porn companies across the industry will switch to as an alternative to traditional payment processors.

In addition to gaining more control over their income, SpankChain models noted that the crypto-powered platform offers more creative freedom than other camming sites.

For Mae Meow, joining SpankChain opened up a whole new world of possibilities.

Another distinction both Mae Meow and Sunshine noticed is that SpankChain users, predominantly veteran crypto fans, are less demanding and open to more diverse content, such as cooking shows, than general audiences.

Instead of trolls demanding performers immediately get raunchy, as they often do on other sites, SpankChain viewers have generally been happy to let performers set the tone.