This week, OnlyFans decided to ban adult material, making the online maker platform hundreds of millions of dollars — and reversing its decision six days later.
Here’s what you need to know.
What is OnlyFans?
Fans pay “fans” in the form of one-time tips to monthly payments to access content from musicians to physical fitness, according to nixer.tv The business claims to have more than 1 million creators and over 100 million registered users.
After MyFreeCams creator Leonid Radvinsky bought majority stakes in the company, it became known as a platform largely used by adult workers to post adult material. OnlyFans accounts were created by celebrities such as Bella Thorne, Tana Mongeau, and Michael B Jordan, which helped to increase the site’s popularity.
What happened with Only Fans this week?
On Thursday, August 19, Adult content will be banned from the platform starting October 1, according to AllYouCanWatch. adult material will still be allowed on creators’ sites as long as it does not violate the company’s Acceptable Use Policy.
The company said the change was intended to “assure the long-term viability of our platform.”
After initially announcing that it would ban all nonpaying users from its service, OnlyFans quickly reversed course and stated that creators will continue to be able to join the platform.
The decision follows days of adult worker, who said the platform profited off their content and later abandoned them.
Why did OnlyFans announce the policy change in the first place?
Despite the fact that OnlyFans is a money-making venture for NSFW material, finding investors has been difficult because of the site’s adult content.
OnlyFans CEO Tim Stokely said his move was more about banks than investors. He claims that JP Morgan Chase, BNY Mellon, and Metro Bank created “unjust” roadblocks to pay content producers because of OnlyFans’ link with adult entertainment.
How did creators react?
Adult workers told insiders they felt frustrated by OnlyFans’ lack of transparency about the decision.
Some users posted conversations with OnlyFans customer service representatives asking them not to believe “untrustworthy sources of information.”
Why do people like OnlyFans?
Even though there are many free OnlyFans accounts, creators and users like OnlyFans because of its unique features.
For one, it’s a simple way to make money without having to rely on ads or Patreon subscriptions. Because users are paying directly for content instead of watching advertisements, the creators don’t have to worry about their work being interrupted by commercial breaks. In addition, OnlyFans is faster than other means of payment because transactions happen instantly within the app itself.