For weeks now, there has been drama brewing – pure anticipation building up gradually as April 17th slowly approached day-by-day. Today is the day that Verge (XVG) would finally reveal who its big mystery partner is, something that we were seriously skeptical about.
Well, now we know that the new partner is a company called MindGeek – which owns a number of adult entertainment portals online (most notably PornHub). Now, users can pay for memberships – and other additional things on the network of adult ecommerce sites – using Verge (XVG).
Now I’m going to tell you why I think the benefits of this big announcement will probably be short-lived.
First – it’s not really a partnership
It’s just a cryptocurrency integration. So, you can pay with XVG now – it’s really not that big of a deal when you think about the fact that they aren’t developing any new technology. They aren’t testing some new form of payment processing, they aren’t collaborating together on any sort of upcoming solution – they are simply letting people pay with their Verge coins.
That’s not called a partnership, that’s just adding a payment option to an adult entertainment streaming site.
Second – Verge fans paid for this “partnership”
As you probably already know, Verge (XVG) desperately pleaded with its hodlers and fans to donate – without any form of reimbursement – to a crowdfund so that this partnership could be revealed. Seriously. So a bunch of people donated at least $6.5 million to this fund, just so MindGeek and Verge could announce that porn sites can accept XVG coins.
To summarize what happened, a bunch of gullible Verge followers gave up their own hard-earned money to basically give free publicity to both PornHub and Verge. Obviously Verge (XVG) paid for this “partnership” and PornHub didn’t choose the coin because it’s the best cryptocurrency choice out there.
Yes, it’s a big deal that one of the most viewed websites in the world is now accepting this privacy coin
Moreover, there are much better payment coins out there – including some that are working on PayPal-like payment gateways so that more than just one coin can be used. As soon as those are in full force, we will have most likely forgotten about Verge (XVG).
Anybody who donated to this “partnership” announcement is a fool. There’s no other way to paint it.
Also – who pays for adult entertainment in 2018? If the partnership had been with GrubHub or something that people actually put money into, maybe I’d be less disappointed.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.