Only1, a new adult content platform built on Solana, has secured $5 million in funding to challenge industry incumbent OnlyFans. The platform aims to offer creators greater autonomy and resistance to censorship while providing users with a seamless experience on the blockchain.
OnlyFans, the current leader in the adult content subscription space, has faced criticism for its high fees and centralized control over creators’ content and earnings. Only1 seeks to address these concerns by leveraging blockchain technology and decentralized governance mechanisms.
The recent $1.3 million strategic raise led by Newman Group brings Only1’s total fundraising to $4.8 million. With this capital injection, Only1 plans to roll out its platform and attract creators with its promise of lower fees and increased censorship resistance.
One of the key features of Only1 is its decentralized content moderation strategy, where token stakers participate in voting on flagged content. While this approach offers a more democratic method of content moderation, concerns have been raised about potential discrimination, especially regarding the platform’s current user demographics.
Lucas Moreno, a professional OnlyFans creator, expressed interest in Only1’s platform but raised concerns about its predominantly feminine creator base and the potential for discrimination. Despite his skepticism about crypto, Moreno was drawn to Only1’s promise of 0% fees on tips and subscriptions.
However, Moreno highlighted the challenges in convincing his following to adopt a new platform, citing the need for education and dispelling misconceptions about crypto.
Only1’s success hinges on its ability to attract creators and users while addressing concerns about content moderation and inclusivity. With the backing of significant investment and a clear value proposition, Only1 aims to carve out a niche in the competitive adult content market.