OnlyFans to Ban Sexually Explicit Content: A Huge Crypto Opportunity?

OnlyFans to Ban Sexually Explicit Content from October

OnlyFans to Ban Sexually Explicit Content – OnlyFans, an online membership service that grew to be one of the top 400 websites in the world by connecting users to content creators (mostly adult models) has fired its top earners and banned “sexually explicit material.” Pornography will not be allowed, despite the fact that it says nudity would be allowed as long as it passes its acceptability guidelines.

“In order to ensure the long-term sustainability of our platform, and continue to host an inclusive community of creators and fans, we must evolve our content guidelines,” OnlyFans said. OnlyFans released a new app earlier this year that incorporates many of its top creators, but without any nudity.

The company has been praised for making it safer for sex workers to work. Sex work, on the other hand, still has a negative connotation. Last year, the company made more than $2 billion in revenue, and it expects to more than quadruple that this year. It keeps a quarter of the total.

The company stated, “banking partners and payout providers” weren’t keen on processing payments to a pornographic portal. OnlyFans, faced with this dilemma, decided to say goodbye to the adults in the room. It may have opened the door for cryptocurrency-inclined competitors in the process. Here’s Why

When Visa and Mastercard stopped processing payments to adult website Pornhub last year, claiming allegedly insufficient standards to prevent minors from publishing content, the site turned to Bitcoin. Pornhub found a way to keep the revenue rolling by limiting premium subscription payments to crypto only.

Also Read: Apple Inc.: A Tech Giant or an Insurance Company?

This questions only one thing: Pornhub embraced Bitcoin, why didn’t OnlyFans?

OnlyFans, which plans to make $1.2 billion in revenue this year, gave in to payment processors. This leaves a void in this space as there is an Ethereum-based token developed to make it easier for sex workers to get paid “SpankChain”, said SpankChain advisor Allie Eve Knox to Decrypt

The void could essentially give rise to a new type of platform that will be supported by cryptocurrencies and powered by blockchain. What’s your take on this? Let us know in the comments below.

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