Adult content creators are turning to crypto-based platforms after mainstream financial and tech firms have moved to chop them off from money payments.
Adult performers told The Post that corporate America’s shunning of the sex industry — which generates between $10 billion and $12 billion a yr within the US annually — has them nervous about their livelihood.
“The adult industry is incredibly lucrative, but its relentless stigma limits its opportunity for growth,” one creator who goes by the Instagram handle @jaigaux09 told The Post.
“We’re simply not taken seriously.”
Her solution was to affix WetSpace, an OnlyFans-esque platform that processes payments in cryptocurrency and thus doesn’t rely upon the whims of mainstream lenders.
“My business is fortified and expanding exponentially,” she told The Post.
“Peace of mind never felt so good.”
Allie Rae, 38, says mainstream financial institutions are keeping the sex industry at arm’s length attributable to fears of sex trafficking and child pornography.
The shift to crypto payments comes as Wells Fargo recently sent out notices to several distinguished sex employees informing them their accounts could be terminated.
Allie Rae, 38, a former Boston-area nurse who left her $84,000-a-year job to perform on OnlyFans, founded WetSpace in March. Her OnlyFans page was lucrative — netting her as much as $250,000 per 30 days.
But the positioning’s threat last yr to shut down sexually explicit content modified her considering. OnlyFans reversed its decision within the face of widespread subscription cuts and a backlash from content creators.
“We will not be on the mercy of the banks, because we’re crypto and don’t answer to them, due to this fact we should not have that threat hovering over us,” Rae said, though she added that WetSpace has instituted safeguards and vetting procedures to be sure that that the content on the positioning is provided by those of legal age.
The positioning accepts eight stable coins, including ethereum, tether, USD coin, and dai.
She told The Post that she left her job as a Boston-area nurse to begin an OnlyFans account, which proved lucrative.
Rae added that the positioning’s added advantage is “providing anonymity for the fans by them not having to make use of a bank card to eat this sort of content, and this has proven to be of great value to this audience.”
Instagram, Meta Platforms Inc.’s photo-sharing social media platform, last week removed Pornhub’s account, which by and huge adhered to the positioning’s rules and didn’t feature any nudity or explicit sexual content. No explanation was given by Instagram.
Before it was shut down, Pornhub’s Instagram account amassed some 13.1 million followers.
Earlier this summer, Visa suspended payments for ads on Pornhub and its parent company MindGeek after the bank card giant was named in a lawsuit filed by a girl who says a sex tape that was filmed without her consent when she was 13 years old was posted on the positioning.
Mastercard has also cut ties with Pornhub.
An adult performer who made the jump to WetSpace after OnlyFans announced its ban said the move gives her peace of mind that she can be paid.
“I’ve joined a handful of platforms and I all the time get hit with the fear that perhaps sooner or later I won’t get my payout because I’m selling adult content,” an adult performer who goes by the name “Ellie” told The Post.
“I’m glad I joined WetSpace since they use crypto, I don’t should worry about not receiving my payments attributable to banking issues, plus the payments get to you within the snap of a finger.”