The porn industry has already begun embracing the blockchain. Pornhub first announced it would be accepting cryptocurrency payments in 2018. Then, after it was axed by Visa and Mastercard in 2020, the platform moved to only accepting cryptocurrency for its premium service.
There has also been a slow rise in crypto-only platforms, but with OnlyFans—which grew in the pandemic to over 130 million users—soon out of the way, there will be a huge void for them to fill.
Using cryptocurrency is not only beneficial for companies but also for the creators themselves. Newsweek recently investigated the rife issue of chargebacks on OnlyFans, which means sex workers were often having to reimburse money to scammers who have viewed their explicit content.
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