Rethinking Content: OnlyFans on Blockchain
Date: 2024-04-23 Author: Henry Casey Categories: BLOCKCHAIN
A group of cryptocurrency enthusiasts created the Only1 project, an alternative to the OnlyFans platform, collecting almost $5 million in investments. Their goal is to transform the adult content model by bringing it to the blockchain.
Problems with the existing model
OnlyFans, although it generated billions in revenue, faced the problem of centralization when banks demanded a ban on adult content. Additionally, the platform charges a 20% commission on the income of content creators, and their audience is tied to the platform.
Transition to blockchain
Only1 plans to build a Solana-based platform that promises censorship resistance and decentralized content moderation. The raised investment of $4.8 million and a list of future content creators are the first steps towards realizing this idea.
Divided Community Opinion
Some content creators see attractive features in Only1, such as no fees for tips and subscriptions, but they also have concerns about decentralized moderation and audience migration to a new platform.
Although the Only1 project is an interesting idea, it has many obstacles, including educating users and resolving existing associations with cryptocurrencies.
