Lovr Project Review: Coupling Blockchain & the Adult Industry

Lovr has struck me as a particularly novel and innovative blockchain-based project from the moment I began to read about their vision; looking to disrupt the gargantuan online and offline adult entertainment industry, Lovr is aiming to provide incredibly useful benefits to actors within the industry for both the service provider and client, utilising blockchain technology to make the adult entertainment experience more secure, efficient and overall more beneficial than before possible.

Overview & Vision

The Lovr project is as complex as it is interesting, comprising of a multi-layered solution to solve the address the various issues and inefficiencies present in the ever-growing adult entertainment industry (both online and offline). Lovr is essentially looking to provide a next generation blockchain-based ecosystem tailored for the particular requirements of the adult industry, encompassing a wide range of innovative solutions such as crypto-based anonymous and low fee payment processing system, and cutting-edge apps such as a blockchain-based adult entertainment booking platform.

The team have clearly conducted a deep analysis of the current state of the adult industry in order to establish the most pressing issues and areas ripe for innovation and disruption, and have tailored their solution to do so. Lovr aim to position themselves at the forefront of the adult entertainment payments space by utilising their blockchain-based platform to provide a superior user experience in terms of efficiency, security and usability.

The adult industry is gargantuan in size, valued at many billions of dollars, but is far from perfect when it comes to payment processing solutions. But what are the current problems in this booming industry? How can blockchain become the disruptively innovative force as envisioned by Lovr to help solve the current issues?

Current Situation

The adult industry in some form is as old as history- all civilisations have recorded some sort of an ‘adult’ aspect of life, and as they say of course, sex work is the oldest profession. Although the adult entertainment industry has blossomed into the booming and varied space we see today, there are multiple issues and inefficiencies which are resulting in a less than ideal ecosystem, both online and offline, for those involved.

Online Adult Industry

Lovr’s main aim in regards to the online adult entertainment industry is to address and tackle the discrimination which users receive from adult-based payment processing services, which they see as unjust and unnecessary.

Traditionally, it has been an unfortunate fact that centralised payment processing solutions such as PayPal or Epoch either will outright not allow the use of their solution for your service, or charge extortionate rates of transaction fees (ranging from 10-15% of their profits).

Anonymity has also been an important concern of users (for understandable reasons) which is the main reason for cash being the traditionally preferred payment method within the industry. However, users are often only left with the choice of paying via processing services such as PayPal, Visa or Mastercard which provide a high risk of detection.

The LVR cryptocurrency, reviewed in detail in the next section, is Lovr’s answer; their own blockchain-based ERC20 payment token will allow minimal fees for suppliers whilst enabling users to remain incognito, as customers in this space often wish to do.

Offline Adult Industry

The offline adult entertainment industry presents a different type of payment conundrum; this time not in terms of high fees, but when it comes to balancing payment-based anonymity with convenience, actors the traditional physical adult space are left with few options.

Cash has long been relied upon by adult service providers due to its lack of traceability, but in an increasingly digital world this is becoming gradually harder to maintain. Credit card payments are convenient, but lose the anonymous aspect of cash, and puts service providers in the position of exposing their bank accounts to high risk if their bank finds such activity undesirable.

Another prominent problem in the offline adult entertainment industry is that of unreliability. In the traditional real-world adult space, there is no contractual or otherwise obligation on either party to stick to a specific agreement, thus often resulting in disappointment for both parties.

For example, adult service providers such as an escort or stripper currently have a notoriously difficult time getting clients to stick to appointment times or previously agreed upon prices, and are often forced to endure suddenly cancelled bookings. This current system is highly unreliable and results in an uncertain financial and working situation for service providers.

Lovr’s Solution

Lovr’s solution to this less than ideal current situation within the online and offline adult industry is their innovative blockchain-based ecosystem designed specifically to overcome the problems traditionally inherently present in the industry.

Lovr platform utilisation process, taken from the Lovr website: https://lovr.network/

Incognito Payment Solution

Blockchain-based technologies have enabled a brand new cutting-edge method of transaction that are by their very nature ultra-secure, efficient, and relatively dirt-cheap in terms of transaction fees.

Blockchain transactions from one person to another are pseudonymous, which means that the transaction will only ever be directly linked to the wallet address you used for that specific transaction, and never your name and personal identification as with traditional payment solutions such as PayPal or Visa.

LVR token

Using LVR tokens, these incognito transactions are assured to be secure, quick and simple to transfer through the utilisation of the blockchain. The use of Lovr's own blockchain-based ERC20 payment token will also allow minimal fees for merchants whilst enabling users to remain incognito.

Furthermore, chargebacks- often initiated for ‘accidental’ purchases- which are a notorious headache for those working in the online entertainment adult industry can be effectively quelled; chargebacks will now be a thing of the past with the utilisation of Lovr’s blockchain-based irreversible transaction system.

Ecosystem Applications

The Lovr X-Change and eWallet, quite simply, make acquiring and storing LVR tokens a seamless process, and can both be accessed with ease from your mobile device.

By far the most notable application in the Lovr ecosystem is the Lovr Network Booking platform, which will enable effective and efficient online booking capabilities for offline escorts, escort agencies and sex workers.

Lovr pride themselves on their unique innovation in their approach to their product design and development, and have not held back in that regard when it comes to their booking platform, which will facilitate amongst other things: appointment manager; cost-effective transactions; chargeback-prevention; statistics manager, and more.

Something interesting to note: Lovr already have their booking platform in its alpha stage, which they are currently testing with certain pre-stage partners.

Lovr booking platform snapshot, taken from the Lovr whitepaper (p.14): https://lovr.network/docs/whitepaper.pdf

Verdict & Summary

For me personally, Lovr is one of those rare projects which hit a trio of ideal project-based factors square on the head: innovative use of blockchain to tackle existing inefficiencies and issues; provide inherent project value by mitigating middlemen along with their high fees; and provides a next-gen decentralised ecosystem built to modernise an industry, whilst inherently creating a more beneficial overall environment for those involved.

Lovr certainly haven’t slacked on their homework and show a clear understanding of the current state of the adult entertainment industry, and especially how cutting-edge technology can provide innovative solutions for the booming multi-billion dollar market; their vision to build a multi-layered blockchain-based decentralised ecosystem has the capacity to provide not only a plethora of cost and anonymity-based transaction benefits to users, but also a more healthy, useful and beneficial user environment overall.

Lovr have a grand vision of decentralising the adult entertainment industry for the overall benefit of those involved, and if the team can deliver on this vision their marriage of blockchain and adult entertainment could be poised to forever change the way all actors involved interact with the adult industry, both in the online and offline worlds.

Lovr will certainly be one project which I will be keeping a close eye on and will be keen to watch develop along their journey towards a decentralised adult industry.

If you have any questions about Lovr I’d recommend joining their Telegram community where you can discuss anything Lovr-related: https://t.me/lovrnetwork

or learn more at their website where you can also find their whitepaper for some deeper research: https://lovr.network/

What do you guys think about Lovr? Do you like the concept? Do you have any queries? Leave a comment and join the discussion.