Adult content creators are increasingly turning to decentralized alternatives like Only1 and Friend.tech as they grapple with payment challenges and the constant fear of deplatforming.
Leon Lee, the founder and CEO of Only1, a decentralized counterpart to OnlyFans, sees a significant shift of power from intermediaries to content creators, thanks to Web3 technology.
He notes that intermediaries are diminishing in significance while creators’ roles and earnings are on the rise.
Patreon faced issues in August when creators encountered difficulties withdrawing their earnings due to payment flagging by banks. Moreover, the memory of OnlyFans’ attempt to ban sexually explicit content in 2021 still lingers.
Lee argues that as long as creators remain on centralized platforms with traditional payment systems, they remain susceptible to deplatforming and are unable to realize their full earning potential.
Only1, launched on the Solana blockchain in March 2023 with backing from Animoca Brands, is just one example of startups seeking to reinvent adult subscription platforms with a crypto twist.
In 2022, Allie Rae introduced WetSpace, a crypto-powered adult content platform, to provide an alternative to OnlyFans.
Rae identified banks as a driving force behind platform decisions and saw crypto as a solution to circumvent their influence.
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More recently, creators began migrating to Friend.tech, a new decentralized social media platform on Coinbase’s layer-2 network Base.
Lee predicts a mass migration as creators reject censorship rules imposed by centralized intermediaries. While TV producers, advertisers, and brands will maintain a presence in the creator economy, blockchain-based peer-to-peer payment systems offer a logical progression for creators.
By eliminating the reliance on traditional payment processors, Web3 platforms empower communities to exercise full autonomy over the types of content allowed.
Lee emphasizes that since the OnlyFans adult content censorship debacle, creators have been establishing “backup accounts” on various platforms due to deplatforming risks.
In the Web3 space, Proof of Peach, SEXN, and Keyhole are among the adult entertainment platforms joining the decentralized movement.
Lee envisions a future where creators gravitate toward platforms that provide complete autonomy over their content and ownership rights to their earnings.
He believes this shift away from intermediaries is the natural progression facilitated by blockchain technology, enabling an inevitable future where there are no intermediaries between creators and their fans.
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