OnlyFans Introduces NFT Pictures to Its Platform | Spurzine

OnlyFans Introduces NFT Pictures to Its Platform

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Online subscription platform OnlyFans, which is very well known for its adult content launched a feature for users to display verified NFTs as profile pictures.

The UK-based company, which said it introduced the feature in December, joins social media companies such as Twitter and Reddit that have also ventured into NFTs as a way to incorporate digital tokens on their platforms.

NFTs, or non-fungible tokens, are a type of digital asset that exists on the record-keeping technology blockchain. They have surged in popularity over the last year, with people buying artwork and videos of sports highlights as NFTs.

“Our mission is to empower creators to own their full potential,” OnlyFans Chief Executive Officer Ami Gan said in a statement to Reuters. “This feature is the first step in exploring the role that NFTs can play on our platform.”

The cryptocurrency market and blockchain are among the emerging technologies that have swept the world over with many companies jumping at the opportunity to find ways of incorporating the technology into their platforms. NFTs have now become another sensation that has grown pretty fast.

OnlyFans, which was launched in 2016, boomed during the pandemic as it became a way for creators to earn money selling content directly to subscribers.

OnlyFans jumps into NFT profile pictures

OnlyFans said it only supports NFTs minted on the Ethereum blockchain. It said creators’ NFT profile pictures would show an Ethereum icon to mark them as authentic.

In December, OnlyFans founder Tim Stokely said he was stepping down as CEO and would be replaced by Gan, who was previously its chief marketing officer.

The platform also came under serious scrutiny from various financial organisations over the distribution of adult content and it had made a promise to get rid of pornographic content from last year but later changed its direction.

 

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Allan Bangirana

Allan Bangirana is a freelance writer for Newslibre & Spur Magazine. He is passionate about tech, games and occasionally writes about entertainment, lifestyle and so much more.

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