• Creators can still post imagery containing nudity that complies with the new guidelines
  • The ban comes at the request of the company's banking partners
  • It is unclear how the company plans to determine which materials are sexually explicit

OnlyFans, a platform that allows users to sell subscriptions for adult content, has announced it would ban sexually explicit content amid struggles to find outside investors.

The ban follows reports that OnlyFans is struggling to secure more funding from investors who allegedly refused to engage with the company on worries that its reputation would prevent it from attracting brand partners. Several investors have also allegedly voiced concerns over minors creating subscription accounts, Axios reported.

Some venture capital funds are also prohibited from investing in adult content, making it harder for such platforms to gather investors.

OnlyFans' move to ban "sexually explicit" content, which will begin on Oct. 1, was part of requests from the company’s banking partners and payout providers. Users can still post imagery containing nudity, however, the content should comply with the company’s policy.

“OnlyFans will prohibit the posting of any content containing sexually explicit conduct,” the company said in a statement, according to Variety. “In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines.”

It is still unclear what the new policy is and how the company’s moderators would determine which content featuring nudity isn't meeting the guidelines. OnlyFans said it would share more information with its users in the “coming days.”

“OnlyFans remains committed to the highest levels of safety and content moderation of any social platform. All creators are verified prior to being able to upload any content to OnlyFans, and all uploaded content is checked by automated systems and human moderators,” the company added.

The U.K.-based platform has more than 130 million users paying monthly fees to view feeds and content from creators. Others can also send direct messages and give “tips” to creators to get access to exclusive photos and videos.

Top personalities, including Bella Thorne, Bhad Bhabie, Tyga, Tana Mongeau and Trey Songz have OnlyFans pages.

The platform has also become a source of income for at least two million creators, including sex workers, during the COVID-19 pandemic. Collectively, creators on OnlyFans have earned more than $4.5 billion since the app launched five years ago, according to data from The New York Times.

Brandon Mena's OnlyFans account has yet to take off and he's considering leaving crisis-wracked Venezuela
Brandon Mena's OnlyFans account has yet to take off and he's considering leaving crisis-wracked Venezuela AFP / Cristian Hernandez