Only1, a firm that aims to build an adult content platform on the Solana blockchain, has announced a $1.3 million strategic funding round, led by the Newman Group.
Only one company has successfully raised a total of $4.8 million through several investment rounds. The company promises to provide an alternative to typical adult content platforms such as OnlyFans, charges artists a 20% fee, and has been involved in content regulation discussions.
Lucas Moreno, a professional OnlyFans creator, expressed interest in Only1’s position against censorship and guarantee of no fees on tips and subscriptions. Moreno did, however, identify potential problems, such as the necessity for user education on cryptocurrencycurrency and the risk of discrimination against minority producers on a platform dominated by heterosexual female creators.
Only1 seeks to build a decentralized platform that is resistant to censorship and charges lower costs to artists. The company has revealed that creators with over 10 million followers will soon join the platform. Concerns have been raised concerning the company’s content moderation system, which involves token holders voting on whether to remove reported content.
Only1 gives adult content creators more control and reduced fees, but its success is dependent on growing a diverse community and educating users about cryptocurrency and blockchain technology.
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