Amidst payment challenges and de-platforming risks, OnlyFans’ content creators are making a migration towards Only1—a decentralized counterpart of the adult streaming platform. The driving force behind this shift is the transformative power of Web3, which has reshaped the dynamics of the content creation industry, transferring control from intermediaries to the creators themselves. Leon Lee, the founder and CEO of Only1, emphatically notes, “The role of intermediaries is diminishing while the role and earnings of creators are increasing.”
This transition isn’t exclusive to OnlyFans, as content creators also encountered payment withdrawal issues with another subscription-based platform, Patreon, back in August. As long as creators continue to rely on centralized platforms utilizing traditional payment systems, they remain vulnerable to the risk of de-platforming.
OnlyFans, in particular, faced significant upheaval when it banned adult content towards the end of 2021, citing pressure from banking partners concerned about reputational risks. Although the ban was subsequently reversed due to vehement opposition from creators, the looming threat still lingers.
Enter Only1, a game-changing solution launched on the Solana blockchain in March 2023, with backing from Animoca Brands. The Web3 iteration initiated an early access campaign named Only100 on March 17, 2023, offering rewards to the first 100 selected early users. Furthermore, Only1 is gearing up to unveil its future roadmap, white paper, LIKE tokenomics, and more.
One notable figure in this transition is Angelina, also known as Chadgelina, a prominent Web3 influencer who formerly served as a content creator on OnlyFans. On June 15, 2023, she took to Twitter to announce her decision to depart from OnlyFans in favor of the Web3 alternative.
“Content Sales on OnlyFans, Community-Building on Only1”
While OnlyFans facilitates the sale of content for creators like Angelina, Only1 offers a broader array of tools. It empowers creators to launch collectibles or subscription-based memberships, granting fans exclusive access to content, direct communication, and more. Angelina, the creative force behind Angelina DAO, elucidated her decision to transition from OnlyFans to Only1, stating,
The idea is to use digital collectibles as membership to my exclusive content and build a fan community that can win together when there’s more demand for joining. OnlyFans allowed me to sell content, and Only1 allowed me to build a community.
In a notable development, Fenix International, the parent company of the renowned streaming giant OnlyFans, recently unveiled a significant investment in the realm of digital assets. The company disclosed an impressive infusion of approximately $20 million in Ether, signaling its bold entry into the world of cryptocurrencies. This disclosure was made through a financial filing submitted to the UK corporate registry on August 24, underscoring the growing integration of digital assets into traditional business operations.