Onlyfans donates £1m in crypto to support Ukraine amid Russia invasion
Adult video subscription platform Onlyfans has donated over $5m (£3.8m) to support humanitarian efforts in Ukraine including 500 ETH (£993,790).
The platform donated the ETH to UkraineDAO, a decentralized autonomous organisation set up by Pussy Riot’s Nadya Tolokonnikova which is raising funds to support Ukraine amidst the Russian invasion.
The company told City PM it plans to make an additional $1m worth of charitable donations to humanitarian efforts in Ukraine, with the fundraising spearheaded by Onlyfans’ Ukranian-American owner Leonid Radvinsky.
.“These tragic events have had a terrible impact on individuals including members of our creator community,” Ami Gan, the chief executive of OnlyFans, said in a statement.
“Given our strong personal ties to Ukraine, we wanted to support in a way which felt true to who we are at OnlyFans and which focused on getting aid and support to the Ukrainian people,” Gan added.
Radvinsky bought a 75 per cent stake in Onlyfans’ parent company Fenix back in 2018, before the platform witnessed explosive growth during the pandemic. The businessman and pornographer owns the site Myfreecams, a site which specialises in explicit webcam performances, through the holding company MFXCY.
In a sign that Onlyfans is embracing Web3 the platform has added an NFT feature, which allows users to use digital collectibles verified on the Ethereum Blockchain as their display photos.
Ukraine’s government issued a call out for donations in crypto on Twitter shortly after the start of the Russian invasion last month. Accounts owned by the Ukrainian government – and NGOs providing support to the military – have raised $63m, through more than 120,000 cryptoasset donations since the start of the Russian invasion, according to Elliptic.
Read more: Bitcoin and crypto markets feeling the effects of war in Ukraine