“Web3 Gains Traction Among Patreon and OnlyFans Creators Amid Payment Issues and Content Censorship Concerns”
Content creators on Patreon encountered payment obstacles in August, while OnlyFans faced backlash when attempting to restrict explicit content, prompting creators to explore alternative platforms in the Web3 sphere.
Leon Lee, the founder and CEO of Only1, a decentralized alternative to OnlyFans, noted a recent shift of power from intermediaries to content creators within the realm of Web3. Lee emphasized that intermediaries are diminishing in influence, while creators are enjoying increased earnings.
In August, Patreon creators experienced difficulties withdrawing their earnings as banks flagged payments as fraudulent. Memories of OnlyFans’ ill-fated 2021 attempt to ban explicit content also linger, highlighting the persistent risk of deplatforming for creators on centralized platforms reliant on traditional payment channels.
Lee argued that as long as creators remain on such platforms, they are susceptible to deplatforming and are unable to maximize their income potential. Only1, which launched on the Solana blockchain in March 2023 with backing from Animoca Brands, represents just one example of numerous startups aiming to provide a decentralized cryptocurrency-infused alternative to adult subscription platforms.
In 2022, OnlyFans model Allie Rae introduced WetSpace, a cryptocurrency-powered adult content platform designed as an alternative to OnlyFans. Rae explained that she established the platform to bypass the payment pressures imposed on creators by banks, recognizing banks as a significant influence behind platform decisions.
More recently, creators on OnlyFans have gravitated toward Friend.tech, a new decentralized social media platform operating on Coinbase’s layer-2 network Base. Lee anticipates a significant migration when more creators realize their desire to break free from censorship rules enforced by centralized intermediaries.
Lee highlighted the shifting landscape in which creators are becoming less reliant on intermediaries for monetization. While acknowledging the enduring presence of TV producers, advertisers, and brands in the creator economy, he viewed blockchain-based peer-to-peer payment infrastructure as the natural evolution for creators. This infrastructure would offer greater autonomy over content and reduce dependence on traditional payment processors.
Following OnlyFans’ adult content censorship controversy, creators have resorted to creating “backup accounts” on various platforms to mitigate deplatforming risks. Several other adult entertainment platforms, such as Proof of Peach, SEXN, and Keyhole, are also operating within the Web3 space.
Lee envisages a future where more creators flock to decentralized platforms, granting them full autonomy over content and ownership rights to their earnings. He emphasized the untapped potential of blockchain technology to eliminate intermediaries and facilitate direct interactions between fans and creators.