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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Media

OnlyFans dive into NFT market

The launch into NFTs marks the latest innovation under new boss Amrapali Gan.

OnlyFans is to become the latest digital platform to launch Non-fungible tokens (NFTs) into its business.

The British unicorn told Reuters it began to allow users to display NFTs in their profile pictures in December.

OnlyFans saw its user number skyrocket during the pandemic, increasing from eight million in July 2019 to 81 million by January 2021, with former chief executive Tim Stokely saying registrations were close to 500,000 per day.

The company announced Amrapali Gan, the company’s marketing chief, would take over from Stokely as CEO last December, and this appears to be the latest innovation for the growing company.

Gan told Reuters: “Our mission is to empower creators to own their full potential.

"This feature is the first step in exploring the role that NFTs can play on our platform."

OnlyFans is best known for hosting explicit content, with users charging customers a monthly subscription.

It courted controversy in August when it announced a ban on this content, before a backlash led them to reverse the decision a week later.

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