Web3 Gains Popularity Among OnlyFans and Patreon Creators Over Payment Worries
Adult content creators are increasingly turning to decentralized alternatives to platforms like OnlyFans and Patreon amid payment challenges and the constant fear of being de-platformed.
These creators are finding solace in the promising potential of Web3 technology, which promises greater control and financial security.
According to Leon Lee, the founder and CEO of Only1, a decentralized version of OnlyFans, a power shift is occurring from intermediaries to content creators, thanks to Web3.
"The role of intermediaries is diminishing while the role and earnings of creators are increasing," Lee said in a recent interview.
He claimed that the shift is driven by the desire to overcome the obstacles faced on traditional platforms.
Back in August, Patreon faced difficulties when creators encountered issues withdrawing their earnings due to payments being flagged as fraudulent by banks.
Additionally, OnlyFans made headlines in 2021 when it attempted to ban sexually explicit content, only to reverse the decision shortly after.
Such incidents highlight the risks creators face on centralized platforms that rely on traditional payment systems.
Lee said that content creators will always be vulnerable to de-platforming as long as they remain on centralized platforms.
To truly maximize their earning potential and safeguard against censorship, he advocated for the adoption of decentralized platforms that leverage blockchain technology.
Only1, launched on the Solana blockchain in March 2023 with the support of Animoca Brands, is just one example of startups offering a decentralized crypto-centric approach to adult subscription platforms.
Other platforms have also emerged in this space.
WetSpace, a crypto-powered adult content platform, was
Read more on cryptonews.com
