Legacy Payment Processors Charge Adult Sites a Fortune; MyPeach.AI Found a Crypto Solution

SALT
LAKE
CITY
–
Internet
users
love
them.
But
mainstream
payment
processors
hate
working
with
them.
Adult
websites
exist
in
an
economic
purgatory
that,
at
best,
makes
them
harder
and
costlier
to
connect
to
the
conventional
banking
system
than
most
other
online
businesses.

Which
is
why
Crass
Kitty,
the
pseudonymous
founder
of
artificial
intelligence-powered
sexting
website
MyPeach.AI,
is
turning
to
crypto.

MyPeach.AI
users
might
not
realize
that
when
they’re,
say,
flirting
with
an
AI-generated
clone
of
an
OnlyFans
girl
or
paying
for
an
alluring
(also
AI-generated)
personalized
image.
Many
of
them
will
likely
be
paying
by
credit
card,
after
all.

Invisible
to
them,
however,
is
that
they’re
actually
buying
stablecoins.
Those
go
to
MyPeach.ai
to
cover
the
startup’s
payroll,
the
high
cost
of
generating
AI
content
and
the
real-life
OnlyFans
models
who
agreed
to
let
the
website
train
its
AI
models
on
their
images,
voice
and
personality.

Kitty
says
payment
processors
charge
a
3-5%
fee
when
customers
use
a
card
to
buy
crypto.
For
adult
entertainment
purchases,
it’s
10-15%
–
an
exorbitant
amount,
Kitty
says.

“There’s
a
real
incentive
to
build
on
crypto,”
she
said.

So,
to
be
clear,
MyPeach.AI’s
customers
are
getting
adult
content.
And
some
of
them
may
be
using
a
credit
card
to
pay
for
it.
If
they
do,
behind
the
scenes,
what’s
really
happening
is
they’re
purchasing
a
stablecoin
and
sending
it
to
MyPeach.AI
–
all
because
payment
processors
charge
through
the
nose
for
adult
entertainment.

Porn
sites
notoriously
suffer
high
rates
of
chargebacks
that
have
prompted
card
processors
to
impose
higher-than-normal
transaction
fees.
This
puts
a
squeeze
on
the
business
owners:
They’re
not
making
as
much
money
from
their
customers.

Crypto
isn’t
a
catch-all
solution.
As
Kitty
found
in
her
previous
adult-themed
crypto
business
–
a
marketplace
for
buying
and
selling
NFTs
of
porn
stars
–
newbies
seldom
tolerate
setting
up
wallets,
acquiring
tokens
and
then
sending
them
to
addresses.
It’s
just
too
much
friction.

Kitty
is
developing
her
site
at
the
mtnDAO
hacker
house
in
Salt
Lake
City.
At
a
previous
mtnDAO,
Kitty
decided
to
pivot
to
AI.
Her
bet
was
that
people
would
flock
to
the
tailored
experiences
that
large
language
models
can
be
trained
to
create.
As
OnlyFans
has
shown,
they’re
also
willing
to
pay
a
premium
for
personalized
sexual
content.

MyPeach.AI
combines
both
with
a
bit
of
crypto.
It
incentivizes
users
to
exchange
flirty
texts
with
AI
personas
–
either
trained
to
their
sexual
preferences
or
to
mimic
real-life
models
–
by
paying
them
PEACH
tokens.
The
users
can
pay
PEACH
tokens
in
exchange
for
AI-generated
images.
If
they
don’t
have
enough
tokens,
they
can
top
up
with
a
credit
card
(that’s
where
the
stablecoin
workaround
comes
in).

According
to
Kitty,
a
handful
of
banks
are
willing
to
work
with
crypto
companies.
A
few
are
also
willing
to
work
with
adult
entertainment
businesses.
But
none
seem
willing
to
work
with
crypto-powered
adult
entertainment
businesses.

“Being
able
to
have
most
of
our
treasury
on-chain
means
we
don’t
have
to
worry
about,
if
our
banks
shut
us
down,
losing
all
of
our
funds,”
she
said.

Kitty’s
been
coming
to
mtnDAO
since
the
August
2022
edition.
The
bustling
and
loud
hacker
house
is
a
change
of
pace
from
her
normal
cadence
of
working
from
home
in
a
Seattle
apartment.
In
Salt
Lake
City,
she
said,
it’s
“been
very
helpful
to
have
live
feedback
from
the
audience
at
mtnDAO
–
from
a
bunch
of
dudes.”