Tim Stokely knows this is a fraught moment to talk up his new web3 startup, a celebrity digital collectables platform called Zoop. And he doesn't

Former OnlyFans CEO unveils his next act

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2022-06-21 18:00:09

Tim Stokely knows this is a fraught moment to talk up his new web3 startup, a celebrity digital collectables platform called Zoop. And he doesn't particularly want to discuss OnlyFans, the pornographic social media juggernaut he built and led before abruptly leaving last December.

Why it matters: OnlyFans grew a multi-billion dollar business that not only leveraged sex, but also a keen understanding of how influencers and fans interact. Stokely and partner RJ Phillips, a onetime Morgan Stanley trader who later became an OnlyFans finance exec, believe they can apply those lessons to Zoop.

What it does: Zoop will create digital avatar NFTs, beginning with series of popular influencers and A-list celebrities, which users can buy, trade and use in third-party games. It will include a play-to-earn model, and plans to keep prices low so as to encourage large collections and for users to join relevant fan communities.