{"id":63899,"date":"2023-09-21T06:30:57","date_gmt":"2023-09-21T10:30:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/web3-gains-popularity-among-onlyfans-and-patreon-creators-over-payment-worries\/"},"modified":"2023-09-21T06:31:00","modified_gmt":"2023-09-21T10:31:00","slug":"web3-gains-popularity-among-onlyfans-and-patreon-creators-over-payment-worries","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=63899","title":{"rendered":"Web3 Gains Popularity Among OnlyFans and Patreon Creators Over Payment Worries"},"content":{"rendered":"
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Adult content creators are increasingly turning to decentralized alternatives to platforms like\u00a0OnlyFans\u00a0<\/strong>and\u00a0Patreon\u00a0<\/strong>amid payment challenges and the constant fear of being de-platformed.<\/p>\n

These creators are finding solace in the promising potential of\u00a0Web3\u00a0<\/strong>technology, which promises greater control and financial security.<\/p>\n

According to\u00a0Leon Lee<\/strong>, the founder and CEO of Only1, a decentralized version of OnlyFans, a power shift is occurring from intermediaries to content creators, thanks to Web3.\u00a0<\/p>\n

“The role of intermediaries is diminishing while the role and earnings of creators are increasing,” Lee\u00a0said in a recent interview.\u00a0<\/p>\n

He claimed that the shift is driven by the desire to overcome the obstacles faced on traditional platforms.<\/p>\n

Back in August, Patreon faced difficulties when creators encountered issues withdrawing their earnings due to payments being flagged as fraudulent by banks.\u00a0<\/p>\n

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Additionally, OnlyFans made headlines in 2021 when it attempted to ban sexually explicit content, only to reverse the decision shortly after.\u00a0<\/p>\n

Such incidents highlight the risks creators face on centralized platforms that rely on traditional payment systems.<\/p>\n

Lee said that content creators will always be vulnerable to de-platforming as long as they remain on centralized platforms.\u00a0<\/p>\n

To truly maximize their earning potential and safeguard against censorship, he advocated for the adoption of decentralized platforms that leverage blockchain technology.\u00a0<\/p>\n

Content Creators Flock to Decentralized Alternatives<\/h2>\n

Only1, launched on the Solana blockchain in March 2023 with the support of Animoca Brands, is just one example of startups offering a decentralized crypto-centric approach to adult subscription platforms.<\/p>\n

Other platforms have also emerged in this space.\u00a0<\/p>\n

WetSpace, a crypto-powered adult content platform, was created by OnlyFans model Allie Rae in 2022 as an alternative to centralized platforms.\u00a0<\/p>\n

Platforms such as Proof of Peach, SEXN, and Keyhole are also operating in the Web3 space, catering to adult entertainment creators.<\/p>\n

More recently, creators on OnlyFans have been exploring Friend.tech, a decentralized social media platform built on Coinbase’s layer-2 network Base.<\/p>\n

Lee predicted that a mass migration of creators would occur as more individuals become disillusioned with the censorship rules imposed by centralized intermediaries.\u00a0<\/p>\n

“Creators are already waking up to the fact and are becoming less dependent on intermediaries to monetize,” he said.\u00a0<\/p>\n

While TV producers, advertisers, and brands will still play a role in the creator economy, Lee noted that a peer-to-peer payment infrastructure based on blockchain is the logical next step.<\/p>\n

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“This is the inevitable future and the unrealized potential of blockchain technology.”\u00a0<\/p>\n<\/blockquote>\n

As\u00a0reported, despite the setbacks caused by the 2022 crypto crash, Web3 continues to intrigue marketers, particularly in the activewear and luxury brand sectors.\u00a0<\/p>\n

Companies like\u00a0Nike\u00a0and\u00a0Adidas were early adopters, integrating blockchain technology into loyalty programs and building communities around it.\u00a0<\/p>\n

Nike’s .Swoosh community, launched in November 2022, allows members to engage in online and real-world activations, interact with Nike athletes and creatives, and use virtual Nike gear in games.\u00a0<\/p>\n<\/p><\/div>\n