Blockchain technology is making its way into all facets of society. As celebrities join, we hear more and more about the OnlyFans platform, where explicit content is shared for a fee. But despite being affiliated with the platform, you have no ultimate right to what happens on the platform because it is a central organization that has the power. What does CumRocket, the OnlyFans for crypto do and why is it suitable as an alternative?
What is CumRocket ($CUMMIES)
With more than $13 billion in revenue, the adult industry is one of the largest industries worldwide. Where decades ago films were traditionally shot and sold in specialist shops, in 2021 the internet is the largest distributor of pornographic images. The advantage of this is that adult access has never been easier with the advent of the internet. The whole technological innovation also has drawbacks for creators, in any domain.
A pernicious disadvantage of this is that the copyrights of the original creator are also lost during this distribution process. Copyright content is simply taken over and distributed across numerous competing websites without any royalties. It is these royalties that are a source of income for the actors. By using NFT on the blockchain technology, the original creator of this NFT is known at all times and this person will also be able to lawfully use the proceeds associated with trading the NFTs.
With the regular platform of OnlyFans, a central organization still decides what happens to your account and thus has a direct influence on your financial future or your income stream. The team of the OnlyFans platform can decide centrally to block and/or remove a certain account so that the content creator no longer has any income at once. In practice, we have seen more often that creators earn a generous salary with their content, with the platform blocking their account without any form of communication, leaving them without any source of income. Also, the question is what happens to the unique content that the platform has in its possession. CumRocket is therefore implementing blockchain technology in the world of pornography.
CumRocket is a deflationary token, launched in April 2021, which is built on the BinanceSmart Chain. As a result, it minimizes gas fees and the team wants to make the token accessible to the general public. The project is community-driven, which means that the protocol does not exist without interference from its community and the associated governance function. Each token holder can enter into a conversation with his or her tokens to determine the course of CumRocket in the future. The protocol aims to use this technology to make its way into the adult industry by offering explicit content traded on the platform. Creators can also privately chat with other members to share private content, receiving a fee in $CUMMIES. As a result, they create explicit content for one specific user, so that they also enjoy extra fees.
Many new projects are recognized by investors because in practice we often see a pump-and-dump scenario. Immediately after launch, the price goes up significantly, after which it plummets again. It is therefore during this period when investors take risks in order to achieve substantial profits in the short term. CumRocket wants to avoid this scenario and therefore decided to hold a presale up to a maximum value of 50 BNB with a limit of 1 BNB per person.
With a supply of 10 billion USD CUMMIES tokens, questions can be raised as to why this total supply is so high. Despite this, the team is on the lookout for whales and limiting the size of certain purchases to eliminate potential market manipulations. During the presale, 1 BNB was equivalent to a purchase of 20 million cummies. No less than 10% of the total supply has already been sold during the presale, which is a hopeful signal for the future of the project.
The team itself currently owns 10% of this total stock. They use this to control the protocol and invest in, among other things, improved technology, and marketing. Just before the official launch, 80% of the stock was burned with the end result being the remaining 10 billion $CUMMIES. No limits are set on burning tokens, this is associated with the number of tokens in circulation.
To ensure sufficient liquidity, liquidity is locked in the pool on PancakeSwap V1 for a period of one year. This again to regulate the price and minimize the chance of an impermanent loss. After the end of this year, the team will re-evaluate to see if it is necessary to re-lock tokens in a liquidity pool.
Since the protocol is a community-driven project, native token holders will also be rewarded for maintaining their positions. Each trade is associated with a 5% fee, of which 2.5% will be redistributed among current token holders to increase their position. This means that the longer you hold your position in the project, this position will increase without having to do anything. The remaining 2.5% is burned to reduce the total supply of the tokens to create more scarcity. Burning tokens regulates the price in this way.
At the time of writing, the protocol is in the top 500 with a total market cap of USD 53 million with a current trading volume of USD 1 million.
NFT Marketplace (NSFW)
The support behind the protocol is of course their NFT Marketplace. Here creators can sign up to share explicit content of their own on the platform. The principle is very similar to the known platform of OnlyFans. People can subscribe to certain channels and/or people in exchange for a fixed amount per month or year. In this way, it also directly competes with the OnlyFans platform, but in a decentralized environment, which offers numerous advantages.
How does it work?
Buying NFTs is nothing new. NFT trading is becoming more and more common and even big names in Hollywood are claiming that NFTs are the future. In this case, you buy an NFT, which can be a photo or even an explicit video with sound. After purchase, you can store this unique token in your own wallet. All you need to access your own nonfungible token are the private keys of your wallet.
The team cleverly addresses the privacy issue associated with adult retention. If you buy this NFT, it will never be on your computer, as it were, but it will remain part of your decentralized wallet that you can consult on any location or device. This also protects this content for yourself.
When working with pornographic material, a KYC procedure is extremely important. Every person who registers will have to identify themselves to prevent illegal practices. Despite wanting to keep everything decentralized as much as possible, the protocol strictly adheres to legal rules regarding pornography. The team will also assess each NFT for its suitability for the platform. They do this based on the following criteria:
- The content creator is clearly older than 18 years and can demonstrate this with a valid ID
- They have professional material that exudes quality
- The makers have a clear and active fan base
- The communication takes place directly, third parties are not necessary
- They are already established in the adult industry
Using these criteria, the platform also wants to offer quality and avoid becoming a platform where only new amateurs enter the platform. The latter would mean that there is insufficient quality and thus the platform cannot grow sufficiently.
A platform can only exist when it takes a percentage of the total profits. 85% of the fee is for the creator with 15% going directly to the platform. With this, they immediately make the statement that this is 5% less than their competition and also say that this 5% can make the difference. Especially with content creators who earn large amounts of money on the platform, 5% is a significant difference.
You can pay for a subscription with different crypto, but tipping the maker is done with the native token of $CUMMIES. When the market is favorable, creators will only generate more profits and can even earn a potential passive income.
The team has drawn up a clear roadmap in which they transparently show which objectives have already been achieved. Launching their website and social media channels was a big first step, as was listing on CoinMarketCap, Blockfolio, Coinbase and CoinGecko. When looking at the 2021 target, we can immediately see that the project has serious plans and also firmly believes in its token.
In the third quarter of 2021, the team wants to have the NFT marketplace operational, where visitors can also pay with the native token $CUMMIES for special requests or when sending messages. At the time of writing, at the end of May 2021, the development team is busy launching the V2 marketplace, which will be launched in Q2.
The website currently already has an active webshop where you can buy a printed shirt or bag with the CumRocket logo to a small extent, but they want to expand this merchandising on a large scale. Executing a massive marketing campaign giving away free merchandising to early adopters is a key target for the third quarter.
Of course, they want to reach the general public and this is only possible if as many people as possible have access to a platform where you can trade the token. Currently, the token is only available in the Decentralized Finance (DeFi) ecosystem, but the team wants to get listed on an exchange before the end of Q3.
The characteristic of recently launched projects is the affinity with charitable causes. More and more protocols are responding to this that they want to contribute to donate part of their income stream. CumRocket focuses on child abuse and human trafficking worldwide.
The whole idea came from Lydia, a British software engineer, and TikTok influencer. On April 4, 2021, she shared the news with the world through her own TikTok account. With this, she wants to compete with the centrality of such content. She is assisted by Chris, the CFO, who has experience in the crypto landscape.
Antonio is the CTO and developer of the team that will develop the platform into a steadfast NSFW platform. Currently, the team consists of only 3 people, but it is possible that as the project develops, this team will expand.
Through projects such as CumRocket, we see that blockchain technology can be implemented in almost all facets of everyday life. In addition to implementation in the housing market or the traditional monetary system, we see for the first time that crypto can also be used in the adult industry. OnlyFans’ regular platform is experiencing exponential growth with more than 70 million users worldwide and more than 1 million online creators.
CumRocket is therefore seen as the OnlyFans of the crypto. The project is still very young but hopes to gain increasing acceptance from the general public as a community-driven protocol. The adult industry is now a very large business where billions of euros are spent and is using the NFT hype to further launch the project.
By being the first-ever NSFW platform in the crypto ecosystem, Lydia and her team hope to become the frontrunner with her $CUMMIES. The team has a clear roadmap and the future will show whether the protocol has a future.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com