- In August, OnlyFans announced plans to ban adult content due to pressure from banks and payout partners.
- This inspired blockchain-based alternative platforms, free-form payment providers, to replace OnlyFans.
- Decentralized content creation platforms offer many benefits to both the creators and fans.
Imagine starting your workday by making content for your fans on OnlyFans: you put your makeup on, do your hair, and get camera-ready. Then you casually open your Twitter (NYSE:TWTR) account and begin scrolling down for some trending news. Out of nowhere, you find out that the platform on which you’ve been financially dependent will make you unemployed within a month. As you begin to look for alternatives, disappointed and worried, the company changes its mind and suspends its previous decision until further notice.
October was supposed to mean the end of the NSFW content creator’s era, but OnlyFans reversed its decision and suspended its planned policy to ban adult content on the platform. Due to the uncertainty of the company’s future, more content creators are seeking out blockchain alternatives for safer, quicker, and more anonymous transactions.
This provided an opportunity for decentralized OnlyFans alternatives to flourish, where creators wouldn’t have to pay a large part of their salary to the platform and could communicate and arrange crypto payments directly with clients, with no third party involved.
OnlyFans Models Look for Alternatives
OnlyFans adult-content creator HayaX, who recently made a transition to a similar platform called Fansly, told us that OnlyFans comes with many flaws, including poor website management. She sees a future with blockchain and content creation, and has already begun creating an alternative herself:
“I am very experienced in cryptocurrency. My opinion is that it's fantastic. I would much prefer to be paid and tipped in crypto, although not Bitcoin because it's got some of the highest fees. Still, they pale in comparison to the 12% that most card processors take.
I would agree to only being paid in crypto so long as it didn't mean I would lose fans because of it. Converting crypto to cash is no problem for me. I have both Coinbase (NASDAQ:COIN) and Kraken and I'm comfortable converting between Bitcoin, Monero, and other currencies. I actually am planning to launch my own personal paysite and crypto will be the requested and encouraged pay type and will be heavily discounted.” Rae, a 20-year-old OnlyFans model from Michigan, said that the worst thing about OnlyFans is its 20% fee out of every payment (including tips). She switched to Fansly, which has more user-friendly features, but sadly the app also takes 20% of all earnings.
“I would say I’m fairly familiar with cryptocurrency and I’m actually very fond of it. I believe crypto has brought a lot of opportunities to people, and honestly, I would think it would be very cool to get paid via crypto, especially Bitcoin,” Rae told DailyCoin.
NFT Platforms Poised to Dominate NSFW Content
Blockchain-powered platforms can offer many advantages to content creators, as the fees are minimal and users are free to set their own rules.
One of the alternatives could be the social platform Only1. It’s built on the Solana blockchain, and presents itself as a place where “fans will have the ability to invest, access, and earn from the limited edition contents created by the world’s largest influencers/celebrities, all powered by NFTs.”
MyyStar is a brand new content creation platform created by rapper Tyga that’s going to start up in October and is a direct competitor to OnlyFans. The platform encourages cryptocurrency payments and payouts (with the possibility to sell NFTs on the Ethereum blockchain) and is going to be more client-friendly with only a 10% fee deducted from the creators’ earnings.
For Nicole DeCicco, CEO of Blockchain Consulting Services CryptoConsultz, decentralized platforms are the answer to more freedom for content creators. Some of the benefits of an uncensored open platform include lower platform fees, increased privacy, and a shift from a time-limited payment structure to a lifetime or multigenerational incentive model.
DeCicco commented on this topic during an exclusive interview with DailyCoin:
“Decentralization, by design, disrupts traditional centralized models by transferring control from a centralized entity to a distributed network. This transfer of power allows individuals to participate in the decision-making process in a democratized fashion ensuring the best interest of the community is always at the forefront.” Decentralized platforms could soon replace OnlyFans by simply being more user-friendly, in comparison to centralized websites that can interfere with the work of a creator.
“The adult content direct-to-fan monetization model is not the first industry to be threatened by such disruption and it certainly will not be the last. Blockchain provides users with applications that give people the ability to manage their own digital identities and data, provides a self-governing model, prevents unwarranted censorship, and can do so while maintaining the privacy of its participants,” says DeCicco.
Even though decentralized platforms haven’t made it through yet, they do show a lot of potential in the future. As blockchain expert DeCicco sums up:
“So, while unwanted censorship may be the straw that breaks the camel's back, it's clear a blockchain solution for platforms like OnlyFans is poised to provide a variety of additional benefits to both the consumer and the artist.”
On The Flipside
- Decentralized platforms are still very new, and they might take years to become popular and widely accepted.
- Creators have to be crypto-literate to accept and know how to use decentralized payment systems.
Why You Should Care?
Centralized networks have a lot of control over content creators and are pressured by third parties. On the other hand, decentralized platforms provide a lot of freedom to creators and operate on servers that run independently.
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