Only1 Bags $1.3M Investment for Solana-Based Adult Content Platform

Only1, a Solana-based startup developing an adult content platform, has secured $1.3 million in strategic funding, led by the Newman Group. This investment brings Only1's total funding to $4.8 million as they strive to challenge traditional platforms like OnlyFans with a decentralized solution offering lower fees and censorship resistance.

Only1 Secures $1.3 Million Investment for Solana-Based Adult Content Platform

London, April 22, 2024 - Only1, a startup developing an adult content platform on the Solana blockchain, has secured a strategic investment of $1.3 million, led by the Newman Group. This latest funding round brings the total capital raised by Only1 to $4.8 million.

Only1 aims to revolutionize the adult content industry by offering a decentralized platform that resists censorship and charges creators significantly lower fees compared to traditional platforms like OnlyFans. The platform employs AI-powered tools and referral links to provide a seamless user experience.

"We are thrilled to announce this strategic investment round, which is a testament to the growing interest in our mission to empower adult content creators," said Only1 CEO, Andrea Torrano. "We believe that our platform will provide a much-needed alternative to existing offerings, giving creators more control over their content and earnings."

Already, Only1 has garnered the support of renowned creators with a collective following of over 10 million. These creators are eager to join the platform, slated to launch in May 2024.

However, Only1's content moderation strategy has raised some concerns. The platform employs a system where token holders vote on whether to remove flagged content. Critics argue that this approach may lead to censorship decisions subject to the biases of the majority.

Professional OnlyFans creator, Lucas Moreno, expressed both enthusiasm and caution about Only1's proposition. "I appreciate the platform's resistance to censorship and its promise of no fees on tips and subscriptions," said Moreno. "However, the lack of a centralized authority for content moderation could pose challenges, and there is a risk of discrimination against underrepresented creators."

Only1's success hinges on its ability to cultivate a diverse and inclusive community, while also educating users about cryptocurrencies and blockchain technology. By addressing these concerns, Only1 has the potential to disrupt the adult content industry and empower a new generation of creators.