Only1 is setting a new standard in adult entertainment with its innovative blockchain platform, designed to address the limitations of traditional services like OnlyFans.
With $4.8 million in funding and strategic partnerships across the globe, Only1 is gearing up for significant expansion in May 2024, promising lower fees and enhanced features for creators and users alike.
Join us in witnessing the transformation of digital content creation and distribution.
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Only1 Announces a Total of $4.8 Million in Funding
Only1, currently developing an adult platform similar to OnlyFans on the Solana (SOL) blockchain, announced on April 21, 2024, that they have completed a funding round of $1.3 million, bringing their total raised to $4.8 million.
This funding round was led by the Newman Group with the strategic goal of acquiring 10 million users, achieving profitability in their 2024 cash flow, and fostering further growth.
Building the Solana Version of OnlyFans with Only1
OnlyFans, known globally as an adult subscription service similar to social networking sites, allows creators to distribute content to their subscribers and fans.
Only1 is undertaking this type of service on the Solana blockchain, introducing a unique token named $LIKE, and providing login capabilities via email, various social media accounts, and cryptocurrency wallets.
Unlike OnlyFans, which has been criticized for high fees charged to creators and restrictions on explicit adult content, Only1 aims to address these issues with a new platform. Features of this new platform include peer-to-peer (P2P) transactions using self-managed wallets and revenue distribution using smart contracts.
Multiple Prominent Creators Set to Join Only1 in May 2024
According to Only1, several creators, each with over 10 million followers, are scheduled to join the platform in May 2024. The company is fostering creator participation through partnerships with many agencies in Japan, Southeast Asia, and Los Angeles.
Furthermore, planned features for May 2024 include a CRM tool to facilitate collaborations between creators and agencies, gasless transactions allowing payments exclusively via USDC, and an OpenAI-powered content discovery and moderation system, along with referral links.
>> Read the latest Solana-related article here.
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