I think we can all agree that the past 18 months has been one hell of a ride for creators and fan sites alike. The climate created by nearly the entire world population being forced to stay at home is one that has never been seen, and unlike pandemics that have come before, this time we had the internet and porn to fill those idle hours at home.
Of course, now that things are getting back to normal, traffic has slowed down for the fan sites, and that in turn affects the income of thousands of performers and creators. Add to that the uncertainty around certain platforms keeping explicit content on their sites, and it’s a challenge, given the power that credit card companies can exert in sometimes vague ways. Here is where cryptocurrencies and non-fungible tokens (NFTs) can step out of the shadows and take center stage, with their blockchain-based revenue potential.
Let us start first with cryptocurrency. There are a few “adult” coins on the market at the moment, as well as platforms that cultivate a creator ecosystem with a diverse array of payment options that include crypto. By cutting out the middleman, cryptocurrencies may not only reduce the fees that creators pay, but also limit the risk from major credit cards potentially one day not being accepted.
As for NFTs, in their simplest form, they’re a digital piece of art, traceable back to the original creator. If you buy an NFT, you own it in digital form and can sell it later, while the authenticity of the piece is traceable back to the creator — assuming the creator has approved the sale of the piece. There are sometimes instances of people selling images they do not actually own, so always take care. Cynics may say this will never take off, but there have been high-profile sales worth millions on mainstream auction sites and from mainstream artists such as Beeple.
So, where do these NFTs fit into the adult industry? Well, the benefits to creators are potentially endless, for while they aren’t intended to be an income replacement for fan sites, they do offer potential advantages:
- They present an entirely new revenue stream.
- Fans can exclusively own a piece of content with authenticity traceable via smart-chain contracts.
- With an auction option available on NFT platforms, the prices can go up and up and up, creating a bidding frenzy among multiple fans.
- Being on the blockchain means that if the fan decides to sell their purchased piece of content, the creator still takes a royalty of the sale price — depending on the platform they use — and this continues for every sale of that piece forever.
- The exclusivity of the sale means the fan feels a greater bond with the creator, rather than traditional content which may be purchased by others.
For creators concerned about mainstream censorship in the form of shadowbanning and the like, or losing the ability to earn on a particular platform, NFTs and crypto offer a unique opportunity. After all, the adult industry has always been a pioneer when it comes to adopting new technology, and blockchain-based platforms are presenting the next wave of innovation. It is only a matter of time until the industry takes back financial control.
Will Palmer is a PR consultant based out of London, U.K. and the head of content and press for House of Influence, a social media and influencer-powered magazine. To learn more about adult industry NFT brand Nafty, which empowers creators with multiple revenue streams, visit NaftyToken.com and follow them at @naftyofficial on Twitter and @nafty_token on Instagram.
