Jacquie & Michel is an adult entertainment empire generating tens of millions of euros a year with a network of no less than 30 websites, two magazines distributed on newsstands, a high-end production label, a TV channel, an online store and 13 stores around France.
The objective of this new cryptocurrency is to offer a complete token economy with many possibilities for content creators and consumers, out of the question for the J&M group to achieve a failed launch, their will is clear: to succeed in their transition in the cryptocurrency sector.
This article is proposed to you in collaboration with Jimizz.Jimizz, an in-house cryptocurrency to protect yourself from the banking network
The creation of the Jimizz token (JMZ) responds to a growing difficulty of the X industry to collaborate properly with the banking sector which behaves like a real
regulator of this economic activity.
Before I talk about the token and its usefulness, I will explain why I think cryptocurrencies are a great solution to a major problem: protecting yourself from the banking network and especially in this case. Banks don’t like X sites
When we talk about the banking sector, we must think of the whole chain:
- Commercial Banks that provide access to bank accounts
- Neobanks: Revolut, Quonto, N26, Lydia
- The credit card payment network: mainly VISA & Mastercard
- The different Payment Service Providers (PSPs) by credit card:
- Online: PayPal, Skrill, Stripe…
- In stores: Ingenico & Verifone in majority
Almost all the players in the sprawling chain of banks refuse transactions related to pornography. Others accept transactions, but no one is immune to unpleasant surprises that put in difficulty the sustainability of the economic activity of entrepreneurs and companies in the world of X. Excerpt from Jimizz’s whitepaper, page 27Why cryptocurrencies can change the rules of the gameExceptible commissions
In general, when you want to collect payments on a site of X, you do not go through the traditional solutions mentioned above, because it is impossible for you to open a bank account for your business and you may never get paid.
You must therefore collaborate with Payment Service Providers (PSPs) specialized in “high risk” payments such as Epoch, CCBill, Verotel or SecurionPay.
All these players have the habit of offering rates generally varying from 15%~20% commissions on each transaction in addition to account management fees of $ 1000 per year for example and a rolling reserve, that is to say that part of the turnover (5~10%) generated can only be cashed 6 months after payment.
A payment player like PayPal takes a commission of 1.8% + € 0.25 per transaction, its competitor Stripe him 1.4% + € 0.25 per transaction, all without account maintenance fees or rolling reserve.
Some creators estimate that between 13 and 19% of the price of a video goes to the banks. Getting rid of these fees would radically lower the price of videos while allowing authors to be better remunerated. The risk of never getting paid
Imagine yourself in the place of Jacquie & Michel or its competitors. You generate thousands of transactions and hundreds of thousands of euros every month. In addition, you usually do not receive the money directly into your account. You must first wait several weeks for payments to be accepted and validated.
On your side, you deliver a service instantly to your customers. So you have to advance money from your own cash flow because it is unthinkable for a customer to pay for content, subscription or item without it being delivered directly after payment.
This is the game, so you take the risk of advancing hundreds of thousands of euros out of your pocket every month and one day… Your partner in charge of processing payments for your website explains that he will not be able to pay you because the origin of the funds is “doubtful”.
Of course, you will not be able to have proof because the regulations prohibit you from having more information about customers who have paid, so you can not always know if it is true, nor can you improve your security system internally to block customers who may be causing problems, you are in total limbo and you lose a lot of money.
You find it unfair so you think: should I sue my partner or should I let it happen and assume my loss?
Taking him to court will probably be useless, you will spend years and tens of thousands of euros building a case to explain the situation to the judge and you are not sure to win in court. You will fuel a conflict with your partner who will probably no longer want to work with you if a trial is ongoing.
In addition, you are shooting yourself in the foot because other competing Payment Service Providers (PSPs) will probably not want to work with an actor who is suing its partners.
You have understood it: by being at the very end of the payment chain you are totally at the mercy of the banks and in case of unpaid, it is for your apple. If your cash flow is not strong enough to collect unpaid debts and well… it’s over for you. Cryptocurrency and blockchain: solutions to all problems
By changing the paradigm and offering customers Payments in Jimizz Tokens (JMZ) on Binance’s blockchain, Jacquie & Michel can review their business model and offer much better commissions to content creators on its platforms.
A payment on the Binance Smart Chain (BSC) usually costs less than $ 0.5 per transaction and it is irrevocable, that is to say that the payer can not declare a dispute on his transaction in order to be reimbursed, so there can be no unpaid.
In addition, the payment is confirmed in 3 seconds (block generation time) and definitively validated after 33 to 45 seconds.
Cryptocurrency also facilitates payments in complete confidentiality, you probably do not want your banker to know that you pay to have access to naughty content on the internet 🙂What is the usefulness of the Jimizz token (JMZ)A means of payment for the Jacquie and Michel network internationally
The JMZ token will serve as a payment method for the various Jacquie & Michel sites to access different types of content such as the 10,000 exclusive videos.
To date, all J&M sites have 25 million unique visitors per month but the site intends to expand its empire internationally with the launch of 2 Pornudeo and TYJAM sites. A payment method for the many features of the Jimizz ecosystem
Jimizz wants to offer different features soon after the end of the ICO namely:
- A staking platform (Livret X) to earn interest on its tokens
- An NFT marketplace
- A live card game with Swame models
- A crowdfunding platform (crownfunding)
- A decentralized autonomous organization (DAO)
- A Metaverse for adults (virtual world)
The Livret X allows, like many decentralized finance (DeFi) protocols, to stake its JMZ tokens in order to receive annualized interest (APY). The interest rate will change based on the use of JMZ tokens and the token reserve.
From the launch of the ICO platform, an NFT marketplace will be launched with a collection of 69 NFTs that will be put on sale gradually. Owning one of these 69 NFTs will allow you to receive a percentage of purchases of JMZ services in the J&M ecosystem as well as unlimited access to all of their sites.