- February 11, 2022
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The legendary OnlyFans is the latest service to go the NFT route. A content subscription service that’s world-famous for adult content, their crash with Non-Fungible Tokens shouldn’t surprise anyone. It does, though. Are people claiming to show their 100K .jpeg investment in OnlyFans of all sites? Does the integration make sense?
It does, if you consider what CEO Ami Gan said to Reuters. “This feature is the first step in exploring the role that NFTs can play on our platform.” Do profile pictures and OnlyFans make sense? Maybe not, but NFTs and OnlyFans surely do. And this is the first step in that direction.
There’s a caveat, though. OnlyFans will plug into the OpenSea API, which means:
“OnlyFans said it only supports NFTs minted on the ethereum blockchain. It said creators’ NFT profile pictures would show an ethereum icon to mark them as authentic.”
Is this a victory for the leading smart-contracts platform?
OnlyFans Empowers Creators
How will the NFT Profile Pictures empower creators? That remains to be seen. However, the potential in mixing OnlyFans core business with NFTs is undeniable. “OnlyFans, which was launched in 2016, boomed during the pandemic as it became a way for creators to earn money selling content directly to subscribers,” said Reuters. Once again, Ami Gan:
“Our mission is to empower creators to own their full potential. This feature is the first step in exploring the role that NFTs can play on our platform.”
And they better think fast, because they’re not the only ones considering the mix between cryptocurrencies and adult content. As Tech Crunch informs:
“But the thing is, helping sex workers maintain a stable income is actually not a bad use case for crypto. One former OnlyFans creator, Allie Rae, is now working on WetSpace, a crypto-centric OnlyFans alternative.”
ETH price chart on Kraken | Source: ETH/USD on TradingView.com
Twitter And Reddit Are Exploring NFT PFP
Once again, Reuters:
“The UK-based company, which said it introduced the feature in December, joins social media companies such as Twitter and Reddit that have explored ways to incorporate the digital tokens on their platforms.”
When Twitter introduced the feature, Bitcoinist said:
“Twitter announced in September that it would introduce a means for users to authenticate non-fungible tokens (NFT). This is now available if you pay $2.99 for Twitter Blue and use an iOS device.
With a splashy introduction video and step-by-step instructional page, Twitter Blue, the social media platform’s membership service, launched the feature on Thursday. Twitter’s profile image functionality is enabled by the API of NFT marketplace OpenSea, according to today’s announcements.”
When Reddit announced their experiments, Bitcoinist quoted spokesperson Tim Rathschmidt:
“We’re always exploring ways to provide value for users and communities on Reddit. At the moment, we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership. It’s a small, internal test, and no decisions have been made about expanding or rolling out the capability.”
Is YouTube Thinking About Joining OnlyFans?
In a recent post titled “A Look At 2022”, Neal Mohan, YouTube’s Chief Product Officer said, “We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans.” What does he mean specifically, though?
“For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audiences.”
Their program doesn’t seem to be about profile pictures at all. And it sounds innovative enough. Will YouTube go through with it? Are they committed to NFT culture or are they just testing the waters? In any case, it looks like NFTs’ corporate adoption is well underway.
Featured Image: OnlyFans logo form their Press Kit | Charts by TradingView
