Crypto has recently been proposed as a solution to the problems that popular adult content platform OnlyFans has been experiencing. Last week, the company announced that it would remove all of its adult content by October 1st. According to speculation, this was due to payment processors Visa and MasterCard making payment more difficult for the company due to the nature of its primary content. However, it was clarified that it was due to the company’s desire for investors, as they had been turned down due to the type of content they host on their site.
This had sent a shiver up the spine of the community and the news world. Crypto enthusiasts began to suggest that decentralized platforms and payment services, such as cryptocurrencies, could help to avoid situations like this. Bitcoin is the most popular suggestion for the type of cryptocurrency to be used for this.
The company has not responded to any of this, appearing unwavering in its determination to rid the site of all pornographic content. To that end, American rapper Tyga has announced plans to launch his own platform, which will compete directly with OnlyFans. The rapper intends to launch a platform based on the Ethereum network.
OnlyFans Tyga Exits
Tyga, a rapper, created an OnlyFans account almost a year ago. Tyga had been a vocal supporter of the platform and had founded Too Raww, a modeling agency dedicated to assisting content creators in getting started on OnlyFans. Following the ban on pornographic content, the rap star announced his departure from Instagram.
Tyga announced that he had deleted his account on the platform and that he was launching Myystar, a competitor to OnlyFans that would give content creators more freedom and a larger cut of earnings. While also providing the audience with higher quality viewing. According to the press release, Myystar will only deduct 10% of creator earnings, compared to 20% on OnlyFans.
Creating a Crypto Backbone
The fact that Myystar is built on the Ethereum network is still its most notable feature. The rapper appears to have listened to recent market suggestions and taken them on board.
Myystar will allow content creators to sell NFTs on the platform, as well as features relevant to the music industry, in addition to providing better quality and a higher percentage of earnings. Content creators will be able to mint pornographic content and sell it as NFTs as a result of this.
The OnlyFans ban on pornographic content has impacted a large number of sex workers and adult content creators. Tyga told Forbes that he wanted to use his platform to give these people hope. “I know a lot of people make a lot of money on OnlyFans, and that’s where the majority of their revenue comes from. Tyga stated, “I want to give those people hope.”
The Myystar platform is set to launch in October, following the October 1st ban on pornographic content on OnlyFans. The website is currently operational, and creators can sign up ahead of the launch.