The cryptocurrency market is no stranger to speculation. Consider that despite this industry’s growth, many continue to view these assets and associated technologies as a bubble that is about to burst.
As history has proven, overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app.” Although there is no clear frontrunner, the adult entertainment industry has proven to significantly advance new technology iterations in the past and presents an interesting proposition for the future of cryptocurrencies.
The adult entertainment industry is believed to be worth billions of dollars, giving it significant influence over the world’s leading technologies. Although it doesn’t create these new technologies, it is often the first to adopt and do so successfully.
For example, the industry was among the first to make money on the internet, where it continues to rake in over $1 billion a year. In part, this is because, unlike other industries that must go head to head with “big box” retailers, the adult entertainment industry doesn’t need to engage in traditional distribution issues.
Although just one example, this industry has continued to demonstrate a history of adopting the newest forms of media to get their content across to viewers. To illustrate, let us consider the transition from VHS to Blu-ray to internet streaming.
From Betamax to Blu-ray
Taking a trip back to the 1970s, users will become familiar with the debate between the Betamax and the VHS, two devices that could run a film, thereby presenting a standard in viewing technology.
In one corner, the Betamax has a wide format that enabled the device to have a better quality recording, although only one hour of video footage could be held. In contrast, the VHS offered poorer quality but with triple the storage capacity (up to three hours.) The result was that the VHS prevailed, with adult entertainment viewers now gaining access to 180 minutes of content.
In an industry as large as this one, this small transition extended the longevity of the VHS and effectively put an end to Betamax.
Looking forward to a more recent example, consider the technology transition between the HD DVD and Blu-ray. The HD DVD was already largely successful when Blu-ray was introduced, presenting a tough market to compete in. However, Blu-ray had more capacity to hold things like deleted scenes, behind-the-scenes footage and other actor commentaries, a reality that was realized in…
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