Only1 has raised $5 million to build an OnlyFans clone on Solana, but will creators join?
Quick Take Only1 has announced the closure of a strategic investment round of $1.3 million, led by Newman Group, bringing its total funds raised to $4.8 million in order to build an adult content platform on Solana. I asked a crypto-skeptical professional OnlyFans creator for his thoughts on what it would take to bring him onchain.
The adult content platform OnlyFans, to crypto fans, seems like a Web2 company ripe for disruption. The platform charges a 20% fee on all creator earnings, generating billions in revenue for the company. A creator's content, followers, and earnings, though, are locked to the platform, meaning it's tough to leave once you've built a following. Plus, there was that time banks nearly forced OnlyFans to ban all adult content on the platform, according to its CEO.
Enter Only1, which today announced a $1.3 million strategic raise led by Newman Group to create an OnlyFans-type adult content platform on Solana, bringing its total fundraising to $4.8 million. Only1 also teased a slate of creators which will soon be joining the platform with ten million followers shared between them.
But are professional OnlyFans creators ready to jump ship and move on-chain? Professional OnlyFans creator Lucas Moreno says Only1's platform presents some compelling features, especially its resistance to censorship decisions like those made by OnlyFans in the past. "[It would be a big draw] not only for me, but for everyone else, because this keeps happening...every bunch of months they will come up with a new article to say what they're banning."
However, as a gay creator surveying Only1, which appears to be a platform dominated by feminine creators so far, Moreno has some concerns about Only1's decentralized content moderation strategy , where token stakers participate in voting on flagged content. "On the one side, it sounds like something that's fair, having the community decide, it seems more democratic," said Moreno. But joining a site with predominantly straight creators would leave room for discrimination, Moreno says. "Not necessarily [discrimination] would happen, but there would be room for it to happen."
While Moreno, who considers himself crypto-skeptical, was particularly drawn in by Only1's promised 0% fee on tips and subscriptions, he also foresaw challenges in getting his following to adopt a new platform. "Even if it's a great idea, there's a lot of education needed and a lot of demystifying and unlearning about things that might have gone wrong in other areas in crypto that might give a bad reputation to crypto," said Moreno.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ex-Goldman Sachs Exec Shares Positive Outlook on XRP Amid Legal Challenges
Cardano Hits $1 for the First Time in Two Years, Signaling Strong Market Momentum
XRP Soars as Ripple CEO Applauds Trump’s Treasury Secretary Nominee
Trump and Wall Street: How long will the love affair last?
Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.