Last 9th July, Flynt gave the green-light for Hustler to embrace yet another sometimes controversial idea – digital currency – when it partnered with digital payments processor GoCoin to accept bitcoin, litecoin and dogecoin for its lifetime memberships.
Known for its controversial adult magazines and publications, Hustler lauded the significant impact the digital currencies have on its subscription sales a month after it had accepted Bitcoin, Litecoin, and Dogecoin from customers who wish to avail of the special lifetime membership.
VP Derek Meklir of the Larry Flynt Publications Internet Group shared that although he was confident that Bitcoin would generate more interest of all the three decentralized coins, he was surprised that the Litecoin and Dogecoin payment options proved to be also popular, stating:
“I wasn’t expecting more than bitcoin, I thought the others were nice to have, but it turns out we’re seeing transactions across all currency types.”
With Hustler’s success in this area, Meklir hinted the company’s plans to expand its current offering to cater for its customers in foreign markets without revealing specific details on how the digital currency transactions will be set up.
Nevertheless, despite the growing enthusiasm of the general public with regards to Bitcoin, Litecoin, and Dogecoin, the whole concept of cryptocurrencies is still market-oriented, and the adult industry may still take a while before it fully adopts the technology, he said.
He even revealed that Hustler saw digital currency payments as a solution to broaden its audience, and therefore, for it to increase its sales.
With the peer-to-peer currencies working in favor of the adult magazine, it is interesting how Hustler will take full advantage of it.
Founded in 1974 by Larry Flynt, Hustler is a brand that is not limited to magazines. It also serves as the name of a chain of bars and clubs, branded retail stores, and most of all a brick-and-mortar casino located in California.
Although the Hustler Casino is far from being a Bitcoin casino any time now, Hustler’s initial success with its digital currency subscription payments may push the brand to extend its Bitcoin and Altcoin adoption to its casino.
California has recently made it legal to pay using Bitcoin and other virtual currencies, so there is a strong and legitimate possibility for Hustler Casino to incorporate such payment methods, and maybe even Bitcoin games, in the future.
However, it all boils down to how strongly determined Hustler is to tap Bitcoin, Litecoin, Dogecoin, and perhaps other digital currencies to push its brand to greater lengths.