OnlyFans, an online membership platform known for pornographic material, said on Thursday that users may now use verified NFTs as profile images.
The UK-based business, which claims to have launched the functionality in December, follows the likes of Twitter and Reddit in looking at methods to incorporate digital tokens into their platforms.
During the epidemic, OnlyFans, which began in 2016, became in popularity as a means for producers to make money by selling material directly to members.
Non-fungible tokens, or NFTs, are a sort of digital asset that reside on the blockchain record-keeping system. People have been buying artwork and videos of sports highlights as NFTs in droves over the last year.
“Our mission is to empower creators to own their full potential,” OnlyFans Chief Executive Officer Ami Gan said in a statement to Reuters. “This feature is the first step in exploring the role that NFTs can play on our platform.”
OnlyFans has said that it would only accept NFTs created on the Ethereum network. It said that an ethereum emblem will appear in inventors’ NFT profile photographs to identify them as genuine.
YouTube, owned by Alphabet, commented on its own intentions for NFTs this week, suggesting that it might use its video archive to check the integrity of digital assets. Last year, NFT sales increased, but opponents claim that frauds, copyright theft, and other exploitative practices are all too widespread.
Adam Mosseri, the CEO of Instagram, has also stated that the firm is working on NFTs.
Tim Stokely, the creator of OnlyFans, said in December that he would be stepping down as CEO and would be succeeded by Gan, the company’s former chief marketing officer.
