WHY AEN IS GOING TO SHAKE UP THE WEBCAM INDUSTRYaentoken
The rise of the webcam sex industry
We live in a rapidly changing world in which we spend more and more of our time and money online. This digital world is becoming increasingly important for businesses all around the globe and due to the relative anonymity that the internet has to offer, this certainly applies for the porn industry.
In this industry Adult webcam platforms are extremely popular. They offer a unique customer experience that is both live and interactive. A real goldmine! Well, if you are at the right side that is.
The webcamsex industry has an estimated yearly turnover of 10 trillion euros, so the good and the bad are all fighting on a piece of this giant pie. When talking about the girls, previously mainly professionals focused on this market. But, because of the low threshold and things like flexible working hours and a safe working environments the current generation of women – read: amateurs, housewives and students – jump on the money train as well. They see it more and more as a quick and easy way to earn some extra money.
How Visa and Mastercard steal billions from sexworkers
So there is a murderous competition that is reinforced by things like online piracy and free internet porn. And although competition is good for consumers – read: falling prices – online sex workers are forced to push their limits and take risks in order to survive financially. They are becoming increasingly dependent on the payment companies, platform owners and other entities that rule the market, with massive exploitation as a result.
The companies in question all point to each other. Preferably to their strongest competitors, or the government, that seems to be a favorite excuse for many of them. Or: they refer you to an army of lawyers who bankrupt you before you even have a chance to start. But ok, that’s how the world works. Money means power, and power means money! But who exactly is to blame? Is it one company or do they all bend the (moral) rules in order to maximize their revenues?
Credit card companies Visa and Mastercard are a perfect example of how things should not be done, of malpractice, of white-collar crime. They have marked the entire porn industry as “high risk”. This means that instead of the standard 2% – 3% rates, they allow themselves to charge their customers 7% – 15% per “porn” transaction. But we are not there yet. To exploit this a bit extra, many additional costs have been made up, such as: connection costs, monthly subscription costs, annual contributions, fines for chargebacks and disputes, transaction costs, administrative costs and so on.
They try to justify this by pointing out the big risks of fraud and chargebacks. However, they refuse to hand over examinations, reports or figures that should confirm this. Fact: various independent studies have shown that there is little to no difference in risks compared to regular markets. In addition, in the case fraudulent transactions or chargebacks do happen, costs and fines are forwarded to their customers… so what are the risks for Visa and Mastercard? Right, there are no risks! It’s simply a justified way of committing fraud. A way to earn billions of euros over the backs of others.
Is this legal? Who knows, there lawyers probably found some loopholes. But morally it is everything but legal. The big problem here is that Visa and MasterCard have become hugely important to the financial system, that no one – not even the governments – wants to burn their fingers.
How payment service providers wrongfully fill their pockets with porn money as well
So-called psp’s (payment service providers) such as CCbill.com, Verotel.com and Epoch.com are the link between payment providers (Visa, Mastercard, Paypal) and website owners, and ensure that the online payment stream for both the consumer and the website owner runs flawlessly. Since the costs of Visa and MasterCard are passed on to them, and the PSPs in their turn want to fill their pockets as well, they charge exorbitant high fees for their services that vary between 10% and 25% per transaction.
In addition, most of the PSPs use the same tricks as Visa and Mastercard: connection costs, monthly subscription costs, annual contributions, fines for chargebacks and disputes, transaction costs, administrative costs and so on.
How webcam platforms claim another piece of the pie
All costs mentioned above are (in turn) passed on to the owners of webcam platforms such as Myfreecams.com, chaturbate.com and Livejasmin.com. But obviously they too want to fill their bags. They do this in a very smart way: charging both their users and their models!
The majority of the webcam platforms use a so-called tipping model. This means that users can purchase digital tokens and spend them on the moddels. To be able to purchase these tokens, transaction costs are charged. For example: one buys 10 euros in coins and pays 11 euros for this. In this case, the user pays a 10% transaction fee.
Models can redeem the received tokens (their earnings) for real money. However, the webcam platform charges them 40% – 65% for delivering their webcam and payment services.
If we assume an average cost of 15% for the owner in terms of payment services, this means that if we sum up the profit they take from both the customer and the model side, the website owner allocates himself no less than 35% to 60%. Per transaction!
Of course, a website owner also has the necessary extra costs such as hosting costs, server costs, staff costs and marketing. But taking 35% to 60% profit per transaction while the models actually do all the work is absolutely criminal. This has to change!
Webcam models are the weakest link in the chain
The sexworkers are basically the weakest link in the whole chain, at least when it comes to profit sharing. Only a small percentage ends up in their pockets… well, in their wallet as most of the time they don’t wear any clothes 🙂
For every dollar a webcam model receives she eventually ends up with 40 cents or less. And that is not the end yet… we all know the government wants a piece of the pie as well. In some countries you have to pay 30% – 50% income tax as. So in reality a webcam model ends up with 20 cents for every dollar she receives.
But isn’t that wrong? Or strange to say the least? Keep in mind they also have to buy all the necessary equipment themselves, they have to buy/rent a room, they have to do the performing part and they have to deal with all the risks like stalking customers, mental abuse and things like copyright theft privacy violations.
Unfortunately we live in a strange world were things most of the time simply aren’t fair. It are the sharks that end up as winners, but AEN believes it’s time to defend and fight for Nemo!
How AEN is building towards a more fair ecosystem for the webcam sex industry
So, how exactly do we do this? One of AEN’s primary objectives is to create a fair, incentive-based ecosystem in which participants are assessed and rewarded based on their contribution to the network. In simpel words: if a model does most of the job, she should be entitled to most of the profits.
With our first projects AEN is working towards a fully decentralized adult entertainment network where all its platforms will have the following features:
- Anonymous Access: complete user anonymity by using blockchain based authentication in combination with smart contract technologies.
- Anonymous Payments: blockchain based user authentication in combination with smart contracts.
- Decentralized storage of user/profile data: decentralized storage through IPFS and smart contract technology.
- Decentralized storage of video/picture content: decentralized storage through IPFS combined with a get-paid-to-store incentive module.
- Tokenized ecosystem: Where the AEN token will function as both a payment/tipping model as a reward and incentive mechanism.
Due to the above mentioned solutions AEN can downsize our (and our partners) overall costs with around 80%. And we have chosen to connect our business model to a tokenized ecosystem for a reason: this way we are not dependent on income from model and user fees! In simple words: AEN Team’s income is based on the success of its internal token. So, if the AEN project will be a success, both investors and the AEN Team will be rewarded proportionally.
So, where traditional payment processors and webcam platforms charge their users absorbitant high fees, the AEN team like to keep things simple: there are no fees! The AEN team strongly believes models shouldn’t have to give up any of their income. That is why AEN offers models a 100% revenue share!
Meet Pornscope, the very first live streaming app for porn!
Our main project Pornscope will be the center of the AEN network. This unique application let’s you share and experience live adult video streams direct from your smartphone, tablet or pc.
Experience the world through someone else’s naughty eyes, or broadcast private moments of your own. You can use it anywhere, anytime. It’s easy, fun, exiting and open for the whole world to watch and enjoy.
By using the latest streaming and blockchain technologies coupled with interactivity, Pornscope will change the way how live sex events are covered.
So say goodbye to existing webcam platforms: The AEN team brings you the next generation of porn entertainment!
CURRENT INDUSTRY PROBLEMS
|1. Huge bandwidth and server costs||6. Piracy|
|2. Unfair revenue share||7. Advertising spam|
|3. Exorbitant processing fees||8. Lack of transparency|
|4. Chargebacks and fraudulent transactions||9. Lack of privacy|
|5. Content restrictions||10. Centralization|
PORNSCOPE’S BLOCKCHAIN SOLUTIONS
|1. Decentralized application (dApp)||6. Incentive based IPFS Storage|
|3. Blockchain based payments||8. Copyright protection|
|4. Complete transparency||9. Ethereum based user verifications|
|5. Improved privacy||10. Smart contract integrations|
PORNSCOPE’S KEY FEATURES
Pornscope will be packed with great new features that provide solutions and improvements for problems that existing webcam platforms are facing. Here are some of the key features:
- Increased Performers Reach
- No difficult setup, no skills and no expensive equipment needed
- Work everywhere, anywhere
- Internal affiliate system
- Unique transparency system
- Privacy enhancements for performers
- User driven ban system
- User activity check
- User rewards
- Prizes and competitions
- Map View: improving the traditional ranking system
- Unique voting system
- Unique ranking system