Solana’s Sensational New Platform, Only1, Raises $5 Million – Will Creators Jump On Board?

• Only1 has completed a strategic investment round, raising $1.3 million led by the Newman Group, which brings their total funding to $4.8 million. The goal is to build an adult content platform on Solana.
• I spoke with a professional OnlyFans creator who is skeptical about cryptocurrencies to get his perspective on what it would take to bring him onchain.

To crypto enthusiasts, OnlyFans, the adult content platform, appears to be a Web2 company ripe for disruption. The platform charges a 20% fee on all creator earnings, generating billions in revenue for the company. However, the platform locks in a creator’s content, followers, and earnings, making it challenging to leave once they have built a following. Additionally, there was a time when banks nearly forced OnlyFans to ban all adult content, as noted by its CEO.

This opens the door for Only1, which recently announced a $1.3 million strategic investment round, led by Newman Group, to build an adult content platform on Solana in the style of OnlyFans. This round brings Only1’s total fundraising to $4.8 million. The platform also hinted at an upcoming roster of creators with a combined following of ten million who will soon join the platform.

But are professional OnlyFans creators ready to switch to a blockchain-based platform? Lucas Moreno, a professional OnlyFans creator, finds Only1’s platform appealing due to its resistance to censorship, a key issue for many creators following OnlyFans’ past decisions. He stated that “[It would be a big draw] not only for me, but for everyone else, because this keeps happening…every bunch of months they will come up with a new article to say what they’re banning.” This resistance to censorship could attract creators who have faced similar challenges with traditional platforms.

As a gay creator exploring Only1, which seems to be primarily composed of feminine creators, Moreno is cautious about the platform’s decentralized content moderation system, where token stakers vote on flagged content. “On one hand, it seems fair to let the community decide—more democratic,” Moreno said. However, he worries about potential discrimination in a platform with predominantly straight creators. “It wouldn’t necessarily happen, but there’s a chance it could,” he noted.

Although Moreno, who is generally skeptical about crypto, found Only1’s promised 0% fee on tips and subscriptions appealing, he recognized the challenge of bringing his followers to a new platform. “Even if it’s a good concept, there’s a lot of education required, along with dispelling myths and misconceptions about crypto due to its questionable reputation,” Moreno explained. He believes the negative associations with crypto could deter his followers from embracing the new platform.

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