Only1 Secures $5 Million for Solana-Based OnlyFans Clone

Only1 Secures $5 Million for Solana-Basically essentially based OnlyFans Clone

Only1 has raised $5 million in funding funds to acquire a Web3 “OnlyFans clone” grownup stammer platform on Solana, led by Newman Neighborhood.

This tear comes to grab on OnlyFans, the leading grownup stammer platform, with a $1 billion part of the $1.6 billion industry.

To capitalize on the platform’s dominance, creators must pay a 20% payment on their earnings, feeding billions in revenue to the industry. A creator’s stammer, followers, and earnings are all tied to the platform, making it not easy to leave when you’ve built a following.

The platform has been threatened plenty of times within the past. In 2021, banks impartial about forced OnlyFans to ban all grownup stammer on the platform, essentially based entirely on its CEO.

Right here is a illustration of the social media dwelling because it stands right this moment. Creators are caught between a rock and a stressful predicament: they require social media to promote their work, however the platforms produce not moderately compensate them for his or her efforts.

Creators are on the mercy of centralized companies, that can even entirely erase the neighborhood they’ve built with bans, enforced by principles that are constantly shifting.

These components contemporary an different for crypto lovers, who cite OnlyFans as a Web2 platform ripe for disruption.

Crypto’s Answer to OnlyFans

Enter Only1, an distinctive stammer provider that makes spend of Solana as the settlement layer to resolve the largest complications within the grownup stammer platform market — low believe and payment censorship. Per Only1’s blog:

“Mixing social media, an NFT market, a scalable blockchain, and the native token — $LIKE, Only1 offers fans a irregular procedure of connecting with the creators they love. By the utilization of the Only1 platform, fans might well hang the ability to make investments, acquire admission to, and sort from the exiguous version stammer created by the area’s largest influencers/celebrities, all powered by NFTs.”

Right here is all a phase of Only1’s vision to reward participation, declaring:

“We peep to reward creators and fans wholly, and proportionally embrace the creator’s economic system by NFTs and DeFi.”

Only1 introduces plenty of revenue streams for creators. Importantly, creators can sell passes – eternal memberships that grant acquire admission to to distinctive stammer. Fans can determine to trade these on the platform on the next tag if there is a high place a question to, with creators incomes a 5% royalty on each trade.

Additionally, creators can sort 100% of the subscription charges from fans, enabled by the respect-to-respect transaction model, tremendously increasing the creators’ part of earnings by bypassing used payment processors and banking companions.

By the utilization of the Only1 platform, fans might well hang the ability to make investments, stake, and sort from the stammer created by the area’s largest influencers, all powered by NFTs.

This would well be facilitated by Only1’s native token LIKE, which fans and creators are rewarded with for the associated payment they add to the platform. Fans can also furthermore stake LIKE tokens and sort curiosity on their cash in influencer-stammer staking pools. Both the fan and the creator prick up staking rewards.

This all supports Only1’s vision of rising a symbiotic relationship between the corporate, stammer creators, and fans as an different of a parasitic one.

Will Only1’s Vision Like the Backing it Wishes?

Only1 has raised $3.5 million from project capital companies, including Animoca Producers (investor in Sandbox) and Newman Capital (lead investor in Memeland), to acquire the trend forward for a decentralized creator economic system. The most up-to-date $1.3 million funding brings the total to $4.8 million.

Only1 is worked as a lot as stammer a $1.3M strategic round, bringing our total capital raised to $4.8M to acquire the OnlyFans on Solana.

AI-powered tools, ref-links, and confirmed creators with 10M+ followers collectively, right here is why we’re super inflamed for Would possibly maybe well 2024 and past: pic.twitter.com/D7CFCUaKHz

— Only1 (@JoinOnly1) April 21, 2024

These investments hang already confirmed critical, with the platform receiving good adoption and having over 40,000 month-to-month active users. One thing that handiest looks to be to enlarge, with several creators to onboard in Would possibly maybe well with collectively over 10 million followers, as teased by Only1.

Despite spending $0 on creator acquisitions, Only1 has facilitated over $100K price of merchandise sold by customer-to-customer trades. The head creator, Angelina, earned a acquire of $21,000 on the placement up to now, highlighting the excellent monetary opportunities for each creators and fans.

Even supposing this adoption is promising, there’s soundless hesitation amongst the crypto-skeptical users of established platforms. Akin to legitimate OnlyFans stammer creator Lucas Moreno, who changed into once in particular drawn in by Only1’s promised 0% payment on pointers and subscriptions. Nonetheless, foresaw challenges in getting his following to undertake a brand original platform. Moreno added:

“Even supposing it’s a gargantuan belief, there’s heaps of education wanted and heaps of demystifying and unlearning about things that can even want gone foul in heaps of areas in crypto that can even give a damaging repute to crypto.”

Source : cryptonews.com