Connect with us

Ethereum

Content Subscription Service Onlyfans Added Ethereum-Based NFT Profile Feature

Content Subscription Service Onlyfans Adds Ethereum-Based NFT Profile Feature

Onlyfans, an internet content subscription service, has launched a feature that uses non-fungible token technology (NFT). Onlyfans has added a new feature that allows members to use authenticated NFTs in their profile photos.

Onlyfans Takes Steps into the Realm Of NFTs

The London-based content subscription service Onlyfans is well known for its direct funding for content creators, its one-time tips, the firm’s pay-per-view (PPV) features, and of course, NSFW content.

Onlyfans revealed this week that it is using blockchain technology. Users can now show off their NFTs by the company. According to a report from Reuters, Onlyfans CEO Ami Gan explained that the move is meant to empower the platform’s userbase.

” Our mission is to empower creators so that they can realize their full potential,” Gan told Elizabeth Culliford, Reuters author. “This is the first step to explore the role of NFTs on our platform .”

Onlyfans has been a major player in the NFT industry’s expansion. A large number of well-known brands and businesses have already joined the ranks. Twitter’s verified NFT profile feature, which is very similar to the Onlyfans NFT profile concept, can be found on Twitter. Twitter introduced the feature last month.

On Febraury 6, Bitcoin.com News reported on Alphabet’s (Google) plans to explore blockchain and Web3 technology. Furthermore, Alphabet’s subsidiary Youtube published a blog post explaining that it has plans to leverage non-fungible tokens (NFTs). The CEO of Instagram, Adam Mosseri, said Instagram is exploring NFTs and reports note that Meta is also experimenting with the technology.

According to Ami Gan, CEO of Onlyfans, NFT support will only be available for Ethereum-based NFTs. To verify that they are authentic, an Ethereum logo will be used. It was not clear if the company would support any other blockchains that support NFT technology in the future.

What do you think about Onlyfans adding NFT support? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More

Continue Reading
Advertisement I show You how To Make Huge Profits In A Short Time With Cryptos!
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Ethereum

Gensler Criticizes Crypto Exchanges for Questionable Practices, Says Spot ETH ETFs Will ‘Take Some Time’

SEC Chair Gensler has voiced concern over unethical conduct within crypto exchanges, noting that the introduction of spot Ethereum ETFs will require additional time.

Gensler’s comments were made during a June 5 interview on CNBC, where he also responded to Jim Cramer’s inquiries about potential exchange-traded products for cryptocurrencies beyond Bitcoin and Ethereum.

Gensler Criticizes Crypto Exchanges

Gensler stated that while the SEC had approved the associated 19-4b filings for spot Ethereum ETFs last month, the launch of these products would “take some time.”

He explained that the ETF applications are undergoing the normal procedural reviews, which inherently take time, but refrained from providing a specific timeline for their market debut.

However, Gensler soon turned his attention to the broader cryptocurrency market with a more critical perspective. He slammed the widespread unethical practices within crypto exchanges, stressing that the market is still plagued by fraud and manipulation.

“Crypto exchanges are engaging in practices that would never be allowed on the NYSE. Our laws don’t permit exchanges to trade against their customers, yet this is happening in the crypto space,” Gensler stated, drawing a line between crypto exchanges and traditional ones like the New York Stock Exchange.

Referencing recent high-profile failures like FTX and Celsius Network, Gensler stated that such illegal activities remain a big problem in the crypto market. He reaffirmed the SEC’s dedication to upholding market integrity through ongoing enforcement measures and highlighted the agency’s role as a civil law enforcement agency.

Gensler Highlights Regulatory Gaps in Crypto Market

While acknowledging some positive steps in regulation, Gensler voiced serious concerns about the inadequate disclosure and regulation in the cryptocurrency industry.

“These tokens, whether they’re well-known or obscure, have not provided the necessary disclosures required by law,” he noted, emphasizing that most cryptocurrencies do not meet the essential disclosure standards expected of regulated assets. This lack of transparency, Gensler argued, deprives investors of the crucial information needed to make informed decisions.

During the interview, Cramer also questioned Gensler about the possibility of ETFs for various lesser-known cryptocurrencies, including meme coins like SushiSwap (SUSHI) and Bonk (BONK), as well as other tokens such as Cardano, Cosmos, and MyNeighborAlice. Cramer pointed out that these tokens had traded millions of dollars in recent activity, asking whether they too should have their own ETFs.

While Gensler did not provide specific answers, he emphasized his stance on the inadequate disclosures of many crypto tokens, implying that these tokens are often unregistered securities.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Read More

Continue Reading

Ethereum

SEC Chair Gensler: Spot Ether ETFs ‘Will Take Some Time’ to Begin Trading

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that spot ethereum exchange-traded funds (ETFs) “will take some time” to commence trading, highlighting the necessity for a thorough disclosure process. Additionally, Gensler emphasized the lack of proper disclosure provided by crypto exchanges to investors…
Read More

Continue Reading

Ethereum

Nibiru EVM to Transform Ethereum Capabilities for Tomorrow’s Web3

[PRESS RELEASE – Tortola, British Virgin Islands, June 5th, 2024]

Nibiru EVM execution boasts blazing-fast transaction speeds, scalability, and seamless integration for Ethereum developers, positioning Nibiru to drive mainstream adoption and innovation in Web3.

Overcoming Ethereum’s Scalability Hurdles

Nibiru Chain, a pioneering smart contract ecosystem, introduces Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, showcased in its latest v2 release.

Nibiru plans to scale beyond Ethereum’s current infrastructure, which is limited to approximately 20 transactions per second (TPS) and results in high fees during periods of congestion. These constraints hinder developers from building performance-intensive applications similar to the ones seen in Web2. Nibiru EVM surpasses these limitations by offering throughput exceeding 10,000 TPS even with just single-threaded execution.

To take the scaling and performance a step further, Nibiru plans to upgrade the network to process transactions with parallel optimistic execution, which is “targeted for release before the end of 2024,” according to Co-Founder of Nibiru, Unique Divine. This approach allows nodes to utilize extra hardware resources, pushing the boundaries on the network’s transaction handling capabilities.

Fueling Ecosystem Expansion and Enhanced Developer Experience

“Compatibility with Ethereum is a key driver for attracting liquidity and promoting ecosystem growth on Nibiru EVM. Launching a blockchain protocol is about building trust and showcasing real-world utility. Innovating and improving the EVM is a key part of our strategy,” explains Unique.

With Ethereum developers accounting for applications that make up over 90% of the total value locked (TVL) across smart contract ecosystems, Nibiru EVM significantly lowers barriers to entry and accelerates development timelines.

Nibiru EVM empowers developers with a robust, user-friendly environment that enables seamless interaction between Ethereum-based tokens and applications across multiple virtual machines. This multi-VM approach ensures fast transaction processing and a streamlined user experience.

Ethereum developers are able to deploy applications in a familiar EVM environment, reducing barriers to entry and accelerating development timelines, whilst also reaping the benefits of parallel optimistic execution and instant finality.

Nibiru in Early Innings

Since its mainnet launch in March 2024, Nibiru has supported Wasm (Web Assembly) smart contracts written in the Rust programming language. The introduction of Nibiru EVM promises developers an EVM-compatible execution environment that is both highly performant and scalable. Positioned to play a crucial role in the future of decentralized applications, Nibiru is driving innovation and setting the stage for mainstream adoption.

About Nibiru

Users can stay up-to-date on the latest news or engage with Nibiru by visiting the Community Hub. Users can find the official web application and information on user guides, block explorers, and upcoming governance and improvement proposals.

Nibiru aims to be the most developer-friendly and user-friendly smart contract ecosystem, leading the charge toward mainstream Web3 adoption by innovating at each layer of the stack: dApp development, infra, consensus, a comprehensive dev toolkit, and value accrual.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.