This Week in NFTs is brought to you by our partner ThisWeekInNFTs.com. Subscribe to the newsletter and you won’t miss any NFTs news.

This Week in NFTs - Friday 11th

onlyfans

OnlyFans, an online subscription platform known for adult content, has launched a feature for users to display verified NFTs as profile pictures, it said on Thursday.

The UK-based company joins social media companies such as Twitter and Reddit that have explored ways to incorporate the digital tokens on their platforms

OnlyFans said it only supports NFTs minted on the ethereum blockchain. It said creators' NFT profile pictures would show an ethereum icon to mark them as authentic.

“Our mission is to empower creators to own their full potential,” OnlyFans Chief Executive Officer Ami Gan said in a statement to Reuters. “This feature is the first step in exploring the role that NFTs can play on our platform.”

It is interesting that of all social media platforms, Onlyfans is jumping into NFTs. I had my sights set on other social networks to implement them first. I have one idea, about what they are trying to push: they will allow users in the future to launch their own NFTs via Onlyfans (and take a commission). Otherwise, they would be supporting multiple blockchains.

What do you think? Where is Onlyfans going with this?

YouTube is launching NFTs so fans can ‘own’ videos

youtube

Youtube is doubling down on NFTs and is looking forward to The Metaverse and Gaming. Chief Product Officer Neal Mohan said NFTs allow creators to “make money in ways not previously possible” in a blog post on Thursday.

“We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans,” Mohan said. “For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audiences.”

YouTube CEO Susan Wojcicki also said NFTs could be another form of revenue for creators in a letter last month. The platform has not yet specified a timeline on its blockchain integration efforts.

Talks of YouTube blockchain integration follow reports from competitor Meta integrating NFTs onto its social media properties as well. The potential new features would allow Instagram and Facebook users to showcase their crypto assets on their profiles

What Else You Should Know This Week

Crypto Startup That Trades Virtual Versions of Real World Assets Aims to Subvert Banks

A blockchain-based platform for trading synthetic exposures to real-world assets has earned the backing of venture capitalist Tim Draper as the firm builds out its business. Morpher now has more than 50,000 monthly users and has settled more than 1 million trades.

Words With Friends Creator Zynga to Launch NFT-based Games

San Francisco-based game developer Zynga, best known for the FarmVille and CSR Racing series, has announced plans to release its first blockchain and NFT-based games this year. 

The billion-dollar game studio first made waves in the crypto world last year after appointing 30-year gaming industry veteran Matt Wolf as Vice President of Blockchain Gaming to lead the company’s charge into the burgeoning industry.

Wealthy NFT Owners Are Taking Out Loans Backed by Bored Apes, CryptoPunks

The NFT (non-fungible token) platform specializes in matching blockchain art owners with would-be lenders. Arcade has more than $20 million of NFTs in escrow, according to CEO Gabe Frank.

Arcade’s financing terms, Frank said, are comparable to fine art lending — a market where hedge funds and other asset managers underwrite loans on the behalf of art-collecting high-net worth individuals. Bank of America, for instance, has more than $10 billion of such loans.

This Week in NFTs is brought to you by our partner ThisWeekInNFTs.com. Subscribe to the newsletter and you won’t miss any NFTs news.