When Only Fans announced that they would be blocking adult content on the platform, creators like Pyra Faye were shocked and disheartened.
"A lot of us found out about the changes that they were planning to make in the news before they notified us directly," Only Fans content creator Pyra Fae told Cheddar News' Michelle Castillo. "And for those adult content creators who are invested and have spent time building a following on OnlyFans, the initial news was scary, as many of us wondered if we would be able to maintain the financial commitments we made based off of our OnlyFans income."
The company has since changed stances, saying it would suspend its initial ban on sexually explicit content. But Pyra Fae said the damage has been done as she's noticed website traffic decline, which has impacted her business. In addition, creators are growing wary of building status on a platform that can ban them at a moment's notice.
"As people heard the news, they became less trustworthy of OnlyFans," she said.
Platforms like OnlyFans are important for those in the adult industry because they provide a safe digital space without having to face the dangers of in-person interactions. In addition, these sites allow men and women to control more of the revenue if their content does well rather than be forced to accept one-time payments. But as credit card companies crack down on providing services to companies that may have illegal content, many of them are finding their content doesn't have an online home.
Updated September 3, 2021 at 2:00 pm ET to correct byline.
Matt Hougan, CIO of Bitwise Asset Management, gives Cheddar the latest on the Securities and Exchange Commission approval of bitcoin ETFs. Hougan calls this time a 'potential major milestone for bitcoin.'
LeBron James has agreed to an exclusive deal with Fanatics Collectibles. James and his son, Bronny, will appear together on a unique sports trading card to herald the Los Angeles Lakers superstar’s new multiyear partnership with Fanatics.
Joe Zhao, Managing Partner at Millennia Capital, joined Cheddar to discuss the latest stock moves and how the market is being impacted by artificial intelligence.
Wall Street was quiet early following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week.
The World Economic Forum says false and misleading information supercharged with cutting-edge artificial intelligence is the top immediate risk to the global economy.
CES 2024 starts this week in Las Vegas. It's set to feature swaths of the latest advances and gadgets across personal tech, transportation, health care, sustainability and more. Here's a list of the coolest announcements so far.
Astronauts will have to wait until next year before flying to the moon and another few years before landing on it. NASA on Tuesday announced the latest round of delays in its Artemis moon-landing program.
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
