Cryptheory: Crypto and Internet

cryptocurrency and internet meaning, guides, learning

OnlyFans Founder Announces NFT Startup

2 min read

 

The founder of subscription service OnlyFans, Tim Stokley, has announced his entry into the Web3 universe with the launch of a startup focused on non-fungible tokens (NFTs).

The company zoop will allow users to buy, sell and trade 3D “playing cards” in the form of NFT from their favorite celebrities and influencers. According to Zoop, the platform will promote “a closer connection between fan and influencer”.

Stokley will serve as the company’s co-CEO alongside RJ Phillips, another former OnlyFans executive.

NFTs from celebrities and influencers

According to a company statement, digital collectibles will be limited.

In addition, the company said that all NFTs will be officially licensed. Users will be able to trade them on a secondary market.

As co-CEO RJ Phillips highlighted, the platform will offer access to communities based on the cards that users have.

At the same time, it will reward users with points for their interactions with each other and within these communities. Participants will also have access to exclusive airdrops.

“We hold users’ hands as they compete to acquire digital collectibles in the auction process, show off their belongings to friends and ‘collect to connect’ with their favorite celebrities of today and tomorrow,” he said.

“Family” ecosystem

Initially, Zoop plans to release 500 NFT cards per influencer. And in the long term, the startup plans to launch its own token, as Phillips pointed out to The Block.

The executive also said that the platform will be “family friendly”, as opposed to OnlyFans, which hosts “inappropriate” content such as pornography.

Also according to the statement, the startup Zoop will work on the Polygon sidechain network. That’s because the team wants to offer low transaction costs and high security standards for users.

The company said it chose the Polygon network because of its commitment to being more sustainable. The network said it will make all of its NFTs “carbon negative by the end of 2022”.

NFTs also available on OnlyFans

OnlyFans platform is also experimenting with NFTs. In February of this year, the company announced that users will be able to use verified NFTs as profile pictures.

NFTs need to be issued on the Ethereum blockchain. Thus, whoever puts them as a profile picture will receive an ETH token that confirms that the NFT is authentic.

“Our mission is to empower creators to realize their full potential. This feature is the first step in exploring the role NFTs can play on our platform,” said Amrapali Gan, CEO of OnlyFans.

Twitter, Reddit, Instagram and other networks are also testing the feature of NFTs as a profile picture.

This is how you explain crypto to your grandmother

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

3 thoughts on “OnlyFans Founder Announces NFT Startup

Leave a Reply

Your email address will not be published. Required fields are marked *