She started with the basics, teaching herself the fundamentals of crypto, then decided to put real skin in the game by assembling a team of developers to build WetSpace, a cryptocurrency-powered adult entertainment platform, into which she has vowed to invest $1 million of her own money.
Rae, a star of the OnlyFans ecosystem, was spooked, telling CNBC that she felt "kicked to the curb," and never wanted to be put in that position again. The whole episode gave whiplash to OnlyFans performers, some of whom realized that they were just one company policy change away from financial ruin. The decision was met with such blowback that OnlyFans reversed course within days. After banks started flagging and rejecting transactions on the site, OnlyFans announced plans to ban sexually explicit content, its core product. Last August, Rae didn't know a lot about cryptocurrency, nor did she accept it for her work, but she was convinced that bitcoin and other altcoins were "100% the future," because they seemed like a far more secure method of payment.Īt the time, OnlyFans was navigating a publicity nightmare. The sex work industry also includes performers on the popular subscription video site OnlyFans, many of whom work exclusively online and have never seen their subscribers or fans in person.Īllie Rae is a 37-year-old mother of three boys who says she went from making about $84,000 a year as an ICU nurse in Boston to $1.3 million, thanks to her work on OnlyFans, which has more than 130 million users. Some escorts – who charge anywhere from $1,700 an hour to $11,000 for a full 24 hours – now explicitly say in their ads that they prefer to be paid in bitcoin or ethereum. is the honest exchange of sexual activity for remuneration, for money." The only thing that's really illegal in the U.S. "Stripping is legal…massage is legal…escorting is legal. It's not dealt with fairly, but it's still legal," explained Kristen DiAngelo, an activist and Sacramento-based sex worker who has spent over four decades in the industry.
Sex work is an umbrella term that includes anyone who engages in some form of erotic labor, whether virtual or in person.
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