One of the coolest features of crypto is that it can allow true decentralization. We have already witnessed the use of crypto in art, music and ICOs with great success. Now, TABOO wants to bring the same features to adult entertainment using the Taboo token. By providing a platform for creators to share exclusive content directly to users, TABOO hopes to revolutionize the entertainment industry just like other distributed ledger technologies (DLTs).
What challenge is Taboo token trying to solve?
While it’s not easy to estimate the size of the adult entertainment market, Transparency Market Research estimates that it will be worth $300 billion by 2030. From the current value of the industry, it would indicate an annual growth of about 5% CAGR. Clearly, this is a huge industry and one that is expected to keep growing. What’s worth noting, though, is the evolution occurring in the space over the past decade.
In the past, content creators relied on media companies like Playboy and AVN Media Network to publish their work. But recently, these creators have been turning to platforms where they can sell directly to clients such as OnlyFans and ManyVids. While such platforms have forever changed how adult entertainers market themselves, there are still challenges they face. These range from credit card chargebacks to high processing fees and predatory merchant contracts. Even OnlyFans had threatened to ban explicit content from its platform by October 2021 before reversing the decision in September 2021.
This is exactly what the Taboo network aims to remedy. By providing a platform that is completely decentralized, adult content creators will no longer have to worry about such issues or threats from centralized platforms. Meanwhile, consumers will have access to exclusive, high-quality content directly from the creators. This will be especially useful for those who can’t find specific content in their desired taboos and fantasies. You need only look at the catalogue of content in the top streaming services to realize just how limited the content is nowadays.
What are the advantages of holding TABOO?
Access to content on the Taboo network will be granted by using the digital currency TABOO native on the platform. With it, holders of the coin will be able to access exclusive content directly from creators. Without having to pay middlemen such as producers and marketers, content should be cheaper to purchase. And you can enjoy other perks determined by the Tier you fall under based on the amount of TABOO you hold.
Advantages to consumers
At the first level, Tier 1, the transaction fee is 10%, but will only include SFW content such as erotic stories, games, cosplay, lingerie, etc. Tier 2 members access NSFW content including free materials on the Taboo network. Transaction fees are also lowered to 7.5%, but you will need at least $1,000 in your wallet or staked on the platform.
With at least $5,000 staked or in your wallet, you become a Tier 3 member with access to XXX content, 5% transaction fees and access to Taboo online events.
At Tier 4, transaction fees are much lower at 2.5% and a lot more perks.
Among some of the perks for Tier 4 members include Taboo parties IRL which will be held around the world. Here, members will have the chance to interact with their favourite creators in person.
Advantages for investors
While Taboo token is of great utility to consumers, investors too can benefit from holding the coin in their wallets. The main one is the growth in value of TABOO since it was launched in March 2021. To date, the coin’s value has increased by over 3,600% and our Taboo token price prediction is that it will keep going higher.
It is already trending on popular listing platforms like CoinMarketCap meaning that there is a lot of interest. Plus, the daily trading volume upwards of $5 million is a testament to the level of activity on the network. This is how TABOO has risen to #405 on CMC among over 15k cryptos.
One of the reasons behind this is the hype generated by the coin since its launch. Both consumers and creators have obviously recognized the need for such a platform for the adult industry and many have invested in the token. We have already discussed the state of the entertainment industry and the need for change.
Another reason is that 1% of every transaction is burned to create scarcity, thus causing the coin’s value to rise. Less supply and increasing demand naturally push up the value of any asset. Going by the interest in TABOO, it’s bound to cause the value of the Taboo token to rise.
For long-term investors, hodling TABOO also has the added benefit of receiving passive income. 2% of each transaction is distributed among Taboo token holders so that they can enjoy the benefits. Holding for extended periods also creates stability in any crypto network hence protecting investors from rug pulls when whales offload their holdings.
Is the Taboo network legit?
So far, the Taboo network has still not been launched, TABOO coin has already been quite successful. Aside from having its value rise sharply within months, it has already been listed on 3 crypto exchanges – WhiteBIT, Hotbit and Lbank. All of these exchanges have a strong base in South America and Asia.
That isn’t surprising when you consider that adult entertainment has enjoyed the most growth from these regions. Plus, the fact that TABOO has been listed on centralized exchanges already is a sign of confidence. CEXes only list new tokens after thoroughly reviewing the project. So, in a way, you could say that these exchanges have done most of the work for you.
Therefore, Taboo token appears legit thus far but it remains to be a risky investment. Not only is the network not yet live, but there is no way to confirm the security of your Taboo token contract address. It’s usually the case with new coins in the market, which is why we would urge caution if you’re interested in buying the coin today.