Adult Content Creators Move to Decentralized Platforms Amid Payment Controversies
Summary:
Adult content creators are transitioning to decentralized platforms like Only1, amid ongoing payment issues and the threat of bans on centralized platforms. Backed by Animoca Brands, Only1 was launched on the Solana blockchain in March 2023. The move echoes a wider shift in the creator economy away from intermediaries towards more autonomy for creators, thanks to Web3 technology. Other crypto-enabled adult content platforms such as WetSpace, and decentralized social media platforms like Friend.tech, are also gaining popularity amongst creators seeking full control over content and earnings.
Creators of adult content are progressively moving towards decentralized alternatives of platforms such as OnlyFans and Patreon, provoked by recent payment issues and constant fear of platform expulsion. The founder and CEO of Only1, a decentralized counterpart of OnlyFans, Leon Lee, shared with Cointelegraph that a significant shift has occurred from intermediaries towards content creators, courtesy of Web3. Lee claims that intermediaries' roles are dwindling as creators' roles and incomes rise.
In August, Patreon creators reported problems in retrieving their earnings due to banks flagging payments as fraudulent. OnlyFans also allegedly attempted to ban explicit content in 2021, which was later reversed. Lee suggests that creators will remain vulnerable to platform expulsion if they continue to use centralized platforms with traditional payment processes. The risk of expulsion isn't realized fully, he says.
Only1 was introduced on the Solana blockchain in March 2023, backed by Animoca Brands, but it is only one of several startups attempting to recreate the success of adult subscription platforms with a decentralized cryptocurrency twist.
In 2022, OnlyFans model Allie Rae set up a crypto-enabled adult content platform, WetSpace, as an OnlyFans alternative. Rae told Cointelegraph in December 2022 that she established the platform to dodge the payment pressures from banks encountered by creators on platforms such as OnlyFans.
Recently, OnlyFans creators migrated en masse to Friend.tech, a new decentralized social media platform operating on Coinbase’s layer-2 network Base.
Lee thinks a migration surge will occur when more creators understand that they don't have to be leashed by censorship rules imposed by a centralized intermediary. Lee suggests that while TV producers, advertisers, and brands will retain a market share in the creator economy, a genuine peer-to-peer payment system such as blockchain is a logical progression for creators.
Lee is convinced that creators will ultimately flock to decentralized platforms that grant them complete control over their content and total ownership rights to their earnings, removing intermediaries entirely. This represents an "unrealized potential of blockchain technology," Lee states.
Published At
9/20/2023 11:17:00 PM
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