To cryptocurrency fans, adult content platform OnlyFans looks like a Web2 company in disarray. The platform charges a 20% fee on all creator revenue, generating billions of dollars in revenue for the company. But a creator’s content, followers, and income are locked into the platform, making it difficult to leave once you’ve built a following. Additionally, according to the CEO, the bank almost forced OnlyFans to ban all adult content on its platform.
Enter Only1 today. presentation A strategic fundraising of $1.3 million led by Newman Group to create an OnlyFans-type adult content platform in Solana brings total funding to $4.8 million. Only1 also teased a list of creators who will soon join the platform, which shares 10 million followers.
But are professional OnlyFans creators ready to jump on board and move on-chain? Professional OnlyFans creator Lucas Moreno says Only1’s platform offers some attractive features, most notably resistance to censorship decisions like those made by OnlyFans in the past. “(It would be a huge attraction) because this keeps happening to me and everyone else…every month they will come out with a new article explaining what they are banning.”
But as a gay creator looking into Only1, which so far appears to be a platform dominated by female creators, Moreno has some concerns about Only1’s decentralized content moderation strategy, where token stakers vote on flagged content. “On the one hand, it sounds fair, it seems more democratic to let the community decide,” Moreno said. But joining a site with predominantly heterosexual creators can open the door to discrimination, Moreno says. She said, “It won’t necessarily happen (discrimination), but there will be room for it to happen.”
Moreno, who considers himself a cryptocurrency skeptic, was particularly attracted by Only1’s promised 0% commission on tips and subscriptions, but predicted he would have a hard time getting his followers to adopt the new platform. “Even if it’s a good idea, it requires a lot of education and a lot of understanding and understanding of what can go wrong in other areas of cryptocurrency and give it a bad reputation,” Moreno said.
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