According to Reuters, OnlyFans plans to follow Twitter’s footsteps when it comes to NFT profile pictures. This is part of OnlyFans’s strategy to develop a long-term plan that does not depend on the whims of credit card companies.
OnlyFans will only support NFTs minted on the Ethereum blockchain. When users click on the NFT profile picture, they will be able to get more information about the NFT from OpenSea.
The platform is exploring how it can leverage crypto and the metaverse to support its users; especially after its failed attempt to ban adult content last year. This was partly because OnlyFans depended on changing Mastercard and Visa regulations that penalise adult content. However, the company backtracked from its decision. Representatives stated that the changes were “no longer required due to banking partners’ assurances that OnlyFans can support all genres of creators.”
The crypto space has much to offer adult content creators. First and foremost, public blockchains cannot be changed to ban adult content purchases. Therefore, crypto can actually serve as a way for adult content creators to bypass traditional banking systems and earn income.
OnlyFans seems to want to use the benefits of crypto and NFTs. According to Chief Executive Officer 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.”
OnlyFans stars have recently made headlines for releasing NFT collections. Sunny Ray dropped her first collection last year and a lot of other stars followed suit. Therefore, it makes strategic sense for the company to integrate NFTs into the platform.