The Only1 company has raised a significant amount of US$5 million in investment, led by the Newman Group. The objective is to establish an adult content platform on Web3, based on the Solana blockchain.
This strategic move comes as a direct challenge to the dominance of the leading adult content platform, OnlyFans, which holds a considerable share of US$1 billion in an industry valued at US$1.6 billion.
To enter this market, creators are subject to a 20% tax on their earnings, feeding an ecosystem that moves billions of dollars. However, this fee is just one of the many ties that tie creators to the platform, making it complex to migrate after gaining a following.
The platform’s turbulent history, including the threat of a ban on adult content in 2021, reveals the vulnerabilities of creators in the face of centralized companies capable of abruptly changing the rules of the game.
In this scenario, an opportunity emerges for cryptocurrency enthusiasts, who see OnlyFans as a Web2 platform ready to be surpassed.
Crypto competition for Only Fans
Only1’s entry into the scene presents an innovative approach. Using Solana as a basis to resolve crucial issues, the new app promises a difference from adult content platforms: reduced trust and censorship of payments.
Through a combination of social media, NFT marketplace, and a scalable blockchain, Only1 offers fans a unique experience to interact with their favorite creators. With the native $LIKE token, the platform promotes a participation economy, where creators and fans are rewarded proportionally.
Differentiating itself from the competition, Only1 presents multiple revenue streams for creators. In addition to permanent subscriptions, creators earn 100% of fans’ subscription fees, bypassing traditional intermediaries and increasing their share of earnings.
Potential of Solana-Based Platform
With investments totaling US$4.8 million from venture capital firms such as Animoca Brands and Newman Capital, Only1 has already seen considerable adoption, with more than 40,000 monthly active users.
Despite advances, the migration of established creators is still a challenge, highlighting the need for education and demystification regarding cryptocurrencies.
Although promising, Only1’s adoption faces resistance, especially among users more familiar with traditional platforms. Creators like Lucas Moreno, from OnlyFans, recognize the benefits offered by Only1, but highlight the need for a gradual and educational transition to ensure support from followers.
Source: https://www.criptofacil.com/empresa-capta-us-5-milhoes-para-construir-rival-do-onlyfans-na-solana/
