Only1, a startup aiming to create an adult content platform on the Solana blockchain, has announced a strategic investment round of $1.3 million, with the Newman Group taking the lead.
Only1 has now successfully raised a total of $4.8 million through various funding rounds. The platform aims to provide an alternative to traditional adult content platforms like OnlyFans, which takes a 20% fee from creators’ earnings and has been involved in debates over content restrictions.
Only1 aims to provide a decentralized platform that resists censorship and charges creators lower fees. The company has announced that creators, with a total of 10 million followers, will soon join the platform. However, there are concerns about its content moderation strategy, which involves token holders voting on whether to remove flagged content.
Lucas Moreno, a professional OnlyFans creator, expressed interest in Only1’s resistance to censorship decisions and its promise of 0% fees on tips and subscriptions. However, Moreno also highlighted potential challenges, including the need for user education on crypto and the risk of discrimination against minority creators on a platform dominated by straight, feminine creators.
Only1 offers adult content creators more control and lower fees, but its success depends on fostering a diverse community and educating users about crypto and blockchain technology.
Also Read: Saga DAO, Solana’s Fan Club, Loses 750 SOL to Hack
