OnlyFans, Patreon models turn to Web3 amid payment and censorship fears

Grownup content material creators have continued to shift in direction of decentralized variations of OnlyFans and Patreon, after current cost difficulties and the ever-present menace of being de-platformed.

Leon Lee, founder and CEO of Only1 — a decentralized model of OnlyFans — tells Cointelegraph there was a current energy shift from intermediaries to content material creators, because of Web3.

“The position of intermediaries are diminishing whereas the position and earnings of creators are rising,” stated Lee.

In August, creators on Patreon reported having difficulties withdrawing their earnings from the platform as funds had been being flagged as fraudulent by banks.

I informed the bank card firm the cost was legitimate, high-quality. Patreon despatched an e mail saying “click on right here to replace your cost” and that hyperlink goes to a 404 error. My checklist of supported creators is gone, I’ve to attempt to bear in mind who I used to be supporting – there’s nothing on the positioning 2/

— Jason Pargin, writer of John Dies on the Finish, and so forth (@JasonKPargin) August 2, 2023

Many content material creators additionally haven’t possible forgotten when OnlyFans tried to ban sexually specific content material in 2021, solely to reverse the choice days later.

Talking to this, Lee argues that creators will at all times be liable to being deplatformed so long as they keep on centralized platforms utilizing conventional cost rails.

“Creators are nonetheless liable to being deplatformed and are usually not realizing their full incomes potential.”

Only1 was launched on the Solana blockchain in March 2023 — backed by Animoca Manufacturers. Nonetheless, the platform is only one out of many startups seeking to seize the magic of grownup subscription platforms with a decentralized crypto twist.

1/ Introducing the Creator Economic system 4.0

Conventional creator subscription platforms fell quick on the subject of funds, incentives and censorship. That is all about to vary, beginning right here on @solana.

Learn on pic.twitter.com/TABSvzO1HX

— Only1 (@JoinOnly1) August 22, 2023

In 2022, OnlyFans mannequin Allie Rae created a crypto-powered grownup content material platform WetSpace, as an alternative choice to OnlyFans.

Rae informed Cointelegraph in December 2022 that she created the platform to avoid the cost pressures that creators on platforms like OnlyFans had been receiving from banks:

“I began to determine that the banks actually had been largely partially the driving drive behind a few of these choices that platforms had been having to make. And in order that naturally led to me: How do you eliminate the banks? And crypto got here out like a knight in shining armor.”

Extra just lately, creators on OnlyFans began flocking to Pal.tech, a brand new decentralized social media platform constructed on Coinbase’s layer-2 community Base.

gm web3. im shaking rn formally 1 / 292 FT woman@friendtech when merch? i am going to rock it. pic.twitter.com/Qm84AajCWt

— gracie♡ (@ilovegraciexo) September 4, 2023

Lee believes a mass migration occasion will occur when extra creators notice they don’t need to be shackled by censorship guidelines imposed by a centralized middleman.

“Creators are already waking as much as the actual fact and have gotten much less depending on intermediaries to monetize,” Lee stated.

He acknowledged that TV producers, advertisers and types will preserve a market share within the creator financial system, however stated a real peer-to-peer cost infrastructure like blockchain is the “subsequent logical step” for creators:

“By eradicating the dependency on conventional cost processors, a web3 platform and its group can have full autonomy over the kinds of content material allowed,” he stated, including:

Because the OnlyFans grownup content material censorship, creators have been creating ‘backup accounts’ on totally different platforms resulting from such deplatform threat.”

Proof of Peach, SEXN and Keyhole are three different grownup leisure platforms working within the Web3 house.

Associated: DuckSquad — First decentralized enterprise capital NFT launches on Only1

Lee believes extra creators will ultimately flock to decentralized platforms that present them with “full autonomy” over their content material and full possession rights to the cash they make:

“It’s an inevitable future the place there’ll now not be any intermediaries between followers and creators — that is an apparent however unrealized potential of blockchain know-how.”

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