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OnlyFans jumps into NFT profile pictures -Breaking

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© Reuters. FILE PHOTO – The OnlyFans logo is shown on this illustration of Manhattan, New York City. It was taken August 19, 2021. REUTERS/Andrew Kelly

By Elizabeth Culliford

(Reuters). OnlyFans, an internet subscription platform that is well-known for publishing adult content online, announced on Thursday that users can now display NFTs verified as their profile photos.

According to the UK-based company that introduced it in December, the new feature joins other social media platforms like Reddit (NYSE:) or Twitter (NYSE.:), which have also explored how they could incorporate digital tokens into their platforms.

OnlyFans launched in 2016. It was a platform that allowed creators to sell content directly to customers.

NFTs are non-fungible tokens. They’re a digital asset type that exists on the blockchain. These tokens have seen a surge in popularity, as people are now buying videos and artwork of sporting highlights using NFTs.

Ami Gan, Chief Executive Officer of OnlyFans, stated in a statement that “our mission is to empower creators and to realize their full potential.” “This is the first step to explore the potential role of NFTs on our platform.

OnlyFans stated that it supports only NFTs that are minted using the Ethereum blockchain. To mark NFT creators as authentic, OnlyFans would display ethereum icons in their NFT profiles.

YouTube (NASDAQ: Alphabet) this week has elaborated on its plans regarding NFTs. It stated that it might offer methods to check the legitimacy of digital assets through its video library. While NFTs sales have soared over the past year, critics claim that scams, copyright theft, and other predatory behaviors are still too common.

Adam Mosseri from Instagram has confirmed that they are working with NFTs.

OnlyFans founder Tim Stokely announced in December that he would step down as its CEO. Gan was the previous chief marketing officer.

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