Adult content creators have continued to shift towards decentralized versions of OnlyFans and Patreon, after recent payment difficulties and the ever-present threat of being de-platformed.
Leon Lee, founder and CEO of Only1 — a decentralized version of OnlyFans — tells Cointelegraph there has been a recent power shift from intermediaries to content creators, thanks to Web3.
“The role of intermediaries are diminishing while the role and earnings of creators are increasing,” said Lee.
In August, creators on Patreon reported having difficulties withdrawing their earnings from the platform as payments were being flagged as fraudulent by banks.
I told the credit card company the charge was valid, fine. Patreon sent an email saying “click here to update your payment” and that link goes to a 404 error. My list of supported creators is gone, I have to try to remember who I was supporting – there is nothing on the site 2/
— Jason Pargin, author of John Dies at the End, etc (@JasonKPargin) August 2, 2023
Many content creators also haven’t likely forgotten when OnlyFans tried to ban sexually explicit content in 2021, only to reverse the decision days later.
Speaking to this, Lee argues that creators will always be at risk of being deplatformed as long as they stay on centralized platforms using traditional payment rails.
“Creators are still at risk of being deplatformed and are not realizing their full earning potential.”
Only1 was launched on the Solana blockchain in March 2023 — backed by Animoca Brands. However, the platform is just one out of many startups looking to capture the magic of adult subscription platforms with a decentralized crypto twist.
1/ Introducing the Creator Economy 4.0
Traditional creator subscription platforms fell short when it comes to payments, incentives and censorship. This is all about to change, starting here on @solana.
Read on pic.twitter.com/TABSvzO1HX
— Only1 (@JoinOnly1) August 22, 2023
In 2022, OnlyFans model Allie Rae created a crypto-powered adult content platform WetSpace, as an alternative to OnlyFans.
Rae told Cointelegraph in December 2022 that she created the platform to circumvent the payment pressures that creators on platforms like OnlyFans were receiving from banks:
“I started to figure out that the banks really were largely in part the driving force behind some of those decisions that platforms were having to make. And so that naturally led to me: How do you get rid of the banks? And crypto came…
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