Last year, content creators faced various struggles based on payment issues and censorship fears, prompting a pivot towards decentralized platforms such as Web3. One vivid instance occurred in August, when Patreon creators reported difficulties in withdrawing their earnings as payments were flagged as fraudulent by banks. Also remembered is OnlyFans’ attempt to ban sexually explicit content, only to reverse the decision shortly after in response to backlash.
The move is primarily influenced by the desire for full earning potential and low risk of deplatforming. Leon Lee, the brain behind Only1, a decentralized version of OnlyFans, highlights the ongoing power shift from intermediaries to creators, a concept amplified by Web3. Lee’s comments paint an image of an industry eager for more control and frustrated by traditional gatekeepers.
The launch of Only1 on the Solana blockchain is part of a broader trend. For instance, last year, OnlyFans model Allie Rae devised WetSpace, a crypto-oriented adult content platform. The motivation came from payment pressures from banks on creators within platforms like OnlyFans. Rae describes crypto as a liberating knight in shining armor.
Meanwhile, others flock to Friend.tech, a fresh decentralized social media platform built on Coinbase’s layer-2 network Base. According to Lee, a mass migration will likely occur as more creators grasp the shackles of the censorship rules imposed by centralized intermediaries. This trend shows the growing popularity of blockchain, as it offers a peer-to-peer payment infrastructure, causing traditional intermediaries to lose grip.
However, this shift is not without its questions. While advocates see blockchain technology as the key to creator freedom, skeptics ponder over potential pitfalls. Might content creators face new challenges in this uncharted terrain? Is it possible for decentralization to introduce unpredictable dynamics that erode the stability of the creator economy, while striving to augment it?
In conclusion, it is clear blockchain technology is carving its niche in the content creator industry, with its promise of removing intermediaries, reducing the risk of deplatforming and maximizing earning potential. As with any shift, this transition carries its own uncertainties. Only time will reveal the effectiveness of this new approach.
Source: Cointelegraph
