X-rated subscription based content platform OnlyFans has stepped into the realm of NFTs (Non Fungible Tokens) as it launched a new feature that allows users to display verified NFTs as profile pictures. The porn-friendly website that was launched in 2016 boomed during the COVID-19 pandemic as it gave users the platform to earn money by selling content directly to their subscribers. The UK-based company had reportedly introduced the new feature in December joining social media biggies like Twitter and Reddit in exploring ways to incorporate digital tokens on their respective platforms.
"Our mission is to empower creators to own their full potential," said OnlyFans Chief Executive Officer Ami Gan in a statement to Reuters. "This feature is the first step in exploring the role that NFTs can play on our platform."
Moreover, OnlyFans will support NFTs minted on the ethereum blockchain only, according to reports. An ethereum icon on creators' NFT profile pictures would mark them as authentic, according to the company.
What are NFTs or Non Fungible Tokens?
Non-fungible tokens or NFTs are a type of digital asset that is stored on the digital ledger blockchain and can be traded or sold. NFTs have become quite popular over the last year, with people trading in digital files such as artwork, videos of sports highlights as NFTs. Each NFTs may have different values and represent different underlying asset.
X-rated Content Platform OnlyFans
Founded by British tech entrepreneur Timothy Stokely, OnlyFans is a platform where content creators share exclusive content with their subscribers. OnlyFans creators can secure their content behind a paywall, giving fans access with a monthly fee. As of February 2022, OnlyFans has over 50 million registered users and over 1 million creators using the platform to earn money online.
Popular OnlyFans Creators
OnlyFans allows artists, chefs, inspirational speakers, musicians, influencers and authors to create exclusive photos and videos to share with their audience. However, the website has become well known for its racy content shared by models, sex workers and porn stars.