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OnlyFans joins the NFT fray

According to Reuters, the popular site, which has gained billions of dollars from users publishing sexual content, is also embracing NFTs—specifically, NFT profile images for its content creators.

OnlyFans launched the function in December and currently allows users to show NFTs validated on the Ethereum blockchain as profile images, but the company tells Reuters that “this feature is the first step towards investigating the role that NFTs can play on our platform.”

OnlyFans is well-known for its large network of adult content providers and fans. Some top models, such as Corinna Kopf, earn up to $1 million per month. Even after the Corinna Kopf OnlyFans leaks, she continues to earn huge sums of money.

An NFT profile image is unlikely to encourage customers to pay sex workers and others a monthly subscription cost (which typically runs between $10 and $20 per month). However, if the site starts collaborating with its producers to create NFTs that customers can buy, it might add another layer of revenue for both parties.

Only six months ago, OnlyFans sparked uproar among users and writers by threatening to prohibit sexually explicit content. (OnlyFans rose to its current size due to sex workers—and the majority of its fan base came from those performances.) A week later, it changed its judgment.

According to a pitch deck seen by Axios, OnlyFans had net revenue of $375 million in 2020 and predicted $1.2 billion in 2021. It had over 7 million paying “fans” per month as of last October and had paid out $3.2 billion to its developers to date.