Spank Coin ICO launches

Spank Coin is a ERC-20 token on the Ethereum blockchain that will give holders producer credits from videos on SpankStream.com. The site is a youtube of the adult world in that any consenting and of legal age person can upload sexy videos that they star in. Couples, models, studios, adult performers, webcammers can upload their amateur and professional videos and earn the highest rates in the industry based on the sales. They also get paid from streams for each view from our members. With the newly issued Spank Coin, you too will be able to join in the profits as a ‘producer.’

What are producer credits? We set aside 10% from all sales for the ‘producers’ or Spank Coin token holders. This money will be paid monthly starting in January 2018, but the first producer credit is a cumulative payment to be made December of this year for the three months following the coin sale.

About: The adult entertainment industry is still a $97 billion a year juggernaut. The internet has changed a lot of the landscape but there is still a ton of money to be made. How do we know? We have been in the industry for nearly 15 years and seen it all, believe us, we have really seen it all. One of the most disturbing things we have witnessed is the decline in pay for the performers. These young men and women put their bodies on the line for your enjoyment and end up getting paid so little these days. Unless you are one of the top girls in the industry, you will get paid up front for your work and that is it. You have to keep making videos every few days to make ends meet.

What we have done with SpankStream.com is allow the performers to join in with that revenue sharing. With the use of Ethereum smart contracts, the studio uploading the video simply adds the email address and percentage of royalties the performer is to receive. The performer gets an email if this is her first time being added and they they now join in on the revenue streams. Each month they can cash out via Ethereum, Bitcoin or fiat (USD).

Strategy: With the upcoming ICO, we hope to jumpstart our marketing efforts. The site is built, we have several performers already selling videos. We have a couple studios onboard too. But we want more. We want to get the word out. This is not only beneficial to us, but also the performers as well. We also want to get the live webcamming section of the site launched. We looked at conventional loans and banks aren’t too keen to the adult world and what we do. The banks that will work with adult sites want to charge us over 18%.

Most adult video sites take huge percentages from video sales:
Chaturbate: 50%
Manyvids: 40%
Pornhub: 50%
Cams4free: 50%
Spankstream: 25%

That is right, 15% is all we take. 75% goes right back to the performers which is HUGE! All you mathematicians out there are probably wondering where the remaining 10% goes. It goes right back to you, the Spank Coin token holders. Every quarter (monthly early next year) our token holders will get paid from this 10% pool a ‘producer's credit.’ Sorry, just because you are listed as a producer doesn’t mean you get to be on set.

Unlike 99% of the ICO’s out there, we already have a working product. We have staff in place, and talented adult performers. We are also turning a small profit. But we aren’t pornhub.com yet and this bothers us. We are still considered a small niche site trying something new. We want that to change and the ICO will help us get there. Why should paying a fair wage to adult performers be a niche? This is something we are setting out to do.

Why: We believe what we are doing is the best way for the adult industry to adapt to changes. Not only that, it is a fair business model for all involved. When you watch a movie or television show in re-runs, all the performers are getting paid royalties on top of what they earned for their original performance. Even television commercial actors and actresses now get royalties for their works, this includes internet ads too. The adult industry is still operating under the same business model from the 1970’s and we intend to bring it into the 2000’s starting with SpankStream.com.

The adult industry has always been at the forefront of technology. They were among the first to start formatting video and websites for iphones. The adult industry was early to start shooting in HD and 4K formats as well. VR would have far fewer markets if it weren’t for the adult industry. On the payment front, the first group to embrace PayPal in its early stages was the adult industry. The online sites have long been looking for a way for people to pay for online adult content while keeping some anonymity. Once PayPal went mainstream, it dropped all the adult sites and stores who had no choice but return to the high fees from the banking megaplex. Another major issue with credit cards are the chargebacks. Most adult oriented websites go through credit card merchant accounts like lube on a porn set. The industry is already high risk and there are many upfront, yearly, per purchase, and other fees the banks add on. This is how SpankStream will be able to not only pay the performers and studios more for content but also our token holders a producer’s credit.

Why do we need our own token? Fall 2018, we plan on launching our own webcam site, complete with tokens (SPNK). This will be the first cam site fully run off the blockchain.

Token Release: August 15th, 2017 will see the release of our new token Spank Coin (SPNK). 200,000,000 tokens will be minted, 100,000,000 will be released. The token sale will cap at 30,000 Ethereum and minimum funding is 5,000 ETH. For the ICO, 1 ETH = 3,000 SPNK. The tokens held back will be locked away until the webcamming portion of the site is up and running, then they will sell at a huge markup to be used as tips on the site. Producer’s Credits will be made via Ethereum.

We recommend using an Ethereum based wallet like MyEtherWallet, Parity, or Mist or a hardware wallet like Trezos, Ledger, or Nano S for the purchase and storage of your SPNK’s. Do not send from a exchange, Jaxx, or coinbase. Tokens will be issued one week after the crowdsale is completed following an audit to make sure everyone gets all the SPNK tokens they purchased. Signup on our mailinglist to be kept up-to-date.

To get in on the crowdsale, all you need to do is send Ethereum from your Ethereum Wallet to the address we post on our Twitter account and website. There will also be a 25% bonus for the 1st 24 hours, 20% bonus for day 2, and 10% bonus for day 3 and 5% bonus for days 4 - 7. After that, the bonus coins are gone. Bonus tokens will be sent following the ICO period. The token sale ends when the hardcap is met or October 15, 2017. Whichever is reached first.

To participate, send Ethereum to:
0x1EAb19e6623E8cBcAfc252E275F5b51C27656fAF

We recommend gas of 75000. You will receive your SPNK immediately.

Roadmap:
Aug 15 2017 - ICO token sale
Aug 2017 - SPNK’s issued to ICO participants
Sept 2017 - revamp video website
Oct 2017 - Finalize additional contracts with exclusive girls
Sept 2017 - Push coin to exchanges
December 2017 - first producer’s credit issued based on sales
January 2018 - start issuing monthly producer’s credits
February 2018 - issue 3rd producer’s credit to Spank Coin holders
March 2018 - alpha launch of web camming site
Summer 2018 - beta launch of webcamming site for token holders (test phase)
Summer 2018 - beta launch of camming site (public beta)
Fall 2018 - launch webcamming site

For more info:
Website: http://ico.spankstream.com
Twitter: @spankstream
Email: [email protected]