News, NFT

OnlyFans Go The NFT Route

Popular subscription site for adult content, OnlyFans, is the newest platform to go the NFT route. While it shouldn’t be a surprise that the adult platform is going the NFT route, some people aren’t convinced that there is any sense in the integration.

Details About The Integration

However, the platform’s CEO, Ami Gan, told newsmen that “this integration will enable us to determine the effect of NFTs on our platform.” While there may not be any link between profile pictures and OnlyFans, there is a link between NFTs and OnlyFans. This integration is the first step in establishing that link.

However, there is a slight warning. OnlyFans will only use OpenSea’s API for now. Thus, “only NFTs minted on the Ethereum blockchain can be linked with an OnlyFan’s account.” part of the announcement from the adult site states that creators who have linked their NFTs with their OnlyFans account will contain an Ethereum symbol to confirm their genuineness.

Empowering Creators To Their Full Potential

While OnlyFans is yet to reveal how NFT-linked OnlyFans account can empower creators, it is irrefutable that there is a massive potential when the core business of OnlyFans is linked with NFTs. According to the top news agency, Reuters, OnlyFans’ popularity soared at the pandemic’s peak because creators earned more money during that period as they sold more content to their subscribers in that period than any other period in the 4-year history of the company.

It would be in the best interest of the OnlyFans team to help creators maximize the opportunities in NFT before the competition takes over from them. A new tech crunch report revealed that a crypto-built OnlyFans alternative (called Wetspace) is in the process of development. WetSpace is owned by Allie Rae, (a former OnlyFans creator). If OnlyFans is successful with this integration feature, it will become the third social platform after Twitter and Reddit to explore tokenizing their platforms. 

Twitter and Reddit are the other two platforms to have done so previously. While twitter launched its tokenized profile picture last September, Reddit announced it launched a similar feature two weeks ago.

YouTube Intensifies Efforts In The Fields Of Blockchain And Metaverse 

The Google subsidiary stated that it would utilize modern technologies such as NFTs to eliminate fraud cases in the rising NFT sector. Following strong competition from TikTok, Instagram, and other video streaming sites, the second biggest search engine has developed newer and better features to retain its user strength.

The news of integrating NFTs with YouTube was first shared by the site’s chief executive, Susan Wojcicki, a couple of weeks ago when she revealed the platform’s plans for the year. At that time, Wojcicki said, “we will continue to utilize new technologies such as Web3.0 and NFTs to help our creators provide useful content for our community and get optimally rewarded for doing so.”

Despite the soaring popularity of NFTs, there have been several cases of copyright issues and scams. Hence, the best way OnlyFans and YouTube can attract and retain digital creators is to prove that they can curb these issues.

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