The infamous OnlyFans is just one of many companies jumping into the most popular trend that has swept the internet by a storm. Тhe intention of the company is to use NFTs in their profile pictures system.
The announcement comes with an announcement from the CEO, Ami Gan, which states that “This feature is the first step in exploring the role that NFTs can play on our platform.”
This unlikely collaboration has a twist, which comes with the surprise that OnlyFans will only use the OpenSea API, and all the NFTs that are minted must come from the ethereum blockchain. To ensure this is the case, there will be an ethereum icon on every profile picture so they are authentic.
The mission of NFTs is “to empower creators to own their full potential.” The purpose, crafted and made explicit in many public statements by Ami Gan, has seen itself come true after the massive boom the platform experienced during the pandemic.
Not only did many people find it convenient and enjoyable to participate in OnlyFans, but to many creators who were financially struggling, it provided a crucial financial backing that they needed to provide their basic needs.
Why Is OnlyFans Taking This Route?
Many people have commented that OnlyFans not only sees the benefits of such a move but is also pressured by competition. For example, WetSpace, a crypto-centered alternative to Onlyfans, has already embraced a system centered around the new digital assets.
WetSpace and OnlyFans are far from the only social networks that have taken active steps into the world of NFTs and crypto.
“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.” says Reuters.
A spokesperson for Reddit made a public announcement that shows their commitment to crypto. According to the speech, “We’re always exploring ways to provide value for users and communities on Reddit. We’re currently 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.”
Even social platforms, such as Youtube, which have nothing to do with pictures, have made speculative statements that give people hopes that they may join the crypto and NFTs hype.
“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.” Says Nael Mohan, Youtube’s Chief Product Officer.
All of this creates very clear pressure for OnlyFans. Jump on the trend or fear being left behind.
