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August 20, 2021Blog Posts

OnlyFans’ porn ban is crypto’s opportunity of a lifetime

TechCrunch

OnlyFans dropped the massive bombshell that it will be banning “sexually explicit content” from the app later this year. This is obviously a wildly seismic shift for OnlyFans, which completely disrupted the adult content industry and gave performers a path toward greater independence by allowing them to connect directly with their fans via subscriptions. This shutdown is also the opportunity of a lifetime for the crypto industry, which could capitalize on the shutdown and a recent wave of increasingly consumer-friendly crypto payments infrastructure products to create a platform that won’t crumble under the influence of payment providers.

OnlyFans, which has been trying to raise at a unicorn valuation and running into plenty of trouble doing so despite huge revenues, didn’t mince words on the reasoning for today’s fundamental change. “These changes are to comply with the requests of our banking partners and payout providers,” a statement on the news from OnlyFans partially read.

File:OnlyFans logo.svg - Wikipedia

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Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?

Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.

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Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?

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