OnlyFans Finally Delves into the NFT World

The term “NFT” or non-fungible tokens have all the web to itself for the past two years. The London-based adult content subscription service portal OnlyFans who had a rise during the pandemic, have announced that they will finally welcome NFTs into their platform by making its users able to post verified NFTs as profile pictures. The feature was introduced on the platform last Thursday (February 10, 2022).

The platform will allow its users to post NFT profile pictures that are hosted on the Ethereum blockchain and an emblem of Ethereum will be displayed to indicate that the picture is an original NFT. This means that the user community can sell and purchase NFT profile pictures of other users, although there is little information on how it would be possible. As per OnlyFans, they have been working on this for the last two months.

“This feature is the first step in exploring the role that NFTs can play on our platform,” said Ami Gan, OnlyFans’ new CEO. He also was quoted as saying “Our mission is to empower creators to own their full potential” and also, “This feature is the first step in exploring the role that NFTs can play on our platform.”

OnlyFans’ embracing of NFTs has come just after six months of their threat to ban adult content, which was welcomed by an extreme backlash among its users, and eventually, the plan was shelved. OnlyFans could gain a lot more if they keep adopting taking 20% of the money as they do for each financial transaction, for transactions related to NFTs.

The move from OnlyFans is similar to that of Twitter, where Twitter allows users to post NFTs as their profile pictures, which was enabled last month.

Meanwhile, Alphabet’s YouTube has released a blog on its plans to utilize Web3 technology, which includes blockchains. Instagram’s CEO Adam Mosseri said that they are exploring incorporating NFTs onto their platform and reports say that the tech giant Meta (previously Facebook) are working on NFTs too.

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