Subscription content platform OnlyFans is jumping on the non-fungible token (NFT) bandwagon.
The company has announced that its users will be able to use an NFT as a profile image within its platform, known for hosting a large amount of adult content.
Only NFTs minted on the Ethereum blockchain will be supported on OnlyFans. The platform will display the Ethereum icon on profiles that have a verified NFT image and when other users click on it, they will be able to learn more about OpenSea’s digital asset.
Ami Gan, the current CEO of OnlyFans, said in a statement to Reuters that this feature is the first step in “exploring the role that NFTs can play on our platform.”
OnlyFans is not going through its best moment and perhaps entering the NFT market could be a boost for the platform, which last year banned the publication of explicit sexual content. This decision was made after three large banks refused to be a means of payment in the service due to the reputational risk associated with sexual material, material that helped it grow like foam during the pandemic.
The platform reportedly grew from 85 million registered people at the end of 2020, to more than 130 million users in mid-2021.
The decision to implement NFT in profiles is similar to the one implemented by Twitter a few weeks ago and the one recently announced by YouTube. The video site confirmed that it will implement NFTs on the platform, in addition to betting on the blockchain and the metaverse.