OnlyFans Sets Foot Into Validated NFT Display Pictures

• OnlyFans, a well liked subscription platform, acknowledged for its adult content, will enable users from now on, to post validated NFTs as profile pictures.
• Yesterday, YouTube indicated in a blog post that, techs like Non Fungible Tokens and blockchains can enable creators to develop chasmic relationships with fans.
• Many platforms like Youtube, Twitter, have brought in the concept of NFT display pictures to be utilized by folks.

OnlyFans Users Can Use NFTs as DPs

An adult content-based online subscription platform, OnlyFans, has released a feature for its users to display validated NFTs as profile pictures, it announced on Thursday.

The organization based in United Kingdom, which stated that it will bring forth the concept in December, joins the club where organizations like Reddit and Twitter have discovered ways to enact virtual tokens on platforms.

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OnlyFans was released back in 2016, flourished during Covid-19 pandemic, as it became a means for creators to generate income by direct content sales to their subscribers.

NFTs or Non Fungible Tokens, are kind of virtual assets that persist on blockchain technology. They have escalated in fame during previous year, with folks purchasing artwork and highlights of sports videos as NFTs.

Ami Gan, Chief Executive Officer of OnlyFans, stated in a statement t a news agency that, their mission is to authorize creators to possess their entire potential. The CEO added, this feature is initial step in discovering the role that NFTs can take over on their platform.

OnlyFans stated that, it will support Ethereum based NFTs only. It added NFT DPs of users would represent an Ethereum logo to tag them as genuine.

Alphabet’s YouTube explained this week, that they are also working on strategies regarding NFTs, saying it can provide means to validate legitimacy of virtual assets utilizing its video library.

NFTs has seen a massive surge in its growth in terms of volume previous year, but many had made allegations that they are subject to frauds, theft, copyright, and other kind of predatory conduct.

Adam Mosseri, head at Instagram, also stated that their organization is working on development of NFTs.

Tim Stokely, founder of OnlyFans stated in December that, he will be leaving the chair of Chief Executing Officer, only to be replaced by Gan, who was its former Chief Marketing Officer.

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A Boost To NFT Space

We have already seen many famous celebrities and platforms entering into NFT space. For instance, Twitter brought in the concept of hexagonal NFTs, and many prominent figures like Shaq’ O Neal, Eminem, Justin Bieber purchasing and utilizing these NFTs on platform.

Last year was year for NFTs as it soared to its peak in terms of trading volume, showing how it is flourishing and is summoning interest among individuals.

NFTs are a great way to earn money, especially if you are an artist in digital space.

Disclaimer

All information provided in this article is purely for informational purposes only, please make any investments in the crypto market after conducting a full fledged research.