The Founder of OnlyFans and the HBAR Foundation: An Unexpected Offer for TikTok
In a surprising twist in the race for control of TikTok in the United States, Tim Stokely, the founder of the popular adult content platform OnlyFans, has joined forces with the HBAR Foundation, an entity linked to the Hedera cryptocurrency network, to submit a last-minute offer to acquire the popular short-form video app. This proposal, sent to the White House this week, comes just ahead of the April 5, 2025, deadline by which ByteDance, the Chinese company that owns TikTok, must sell its US operations or face a complete ban on national security grounds.
Who is Tim Stokely and what is Zoop?
Tim Stokely is a British entrepreneur who rose to fame after founding OnlyFans in 2016, a platform that allows content creators to directly monetize their work, particularly known for its association with adult content. However, this time, Stokely isn't acting through OnlyFans, but rather through Zoop, a new startup he co-founded with RJ Phillips, an influencer marketing expert. Unlike OnlyFans, Zoop presents itself as a "family-friendly" and mainstream platform, designed to return the majority of its revenue to creators, rewarding them for encouraging user engagement.
Zoop's vision, according to Phillips, is not limited to a simple change of ownership of TikTok. "Our offer for TikTok is not just about changing ownership, but about creating a new paradigm where both creators and their communities directly benefit from the value they generate," he said in a statement to Reuters. This approach seeks to challenge the traditional Big Tech model, where platforms typically retain a significant portion of the revenue generated by creators.
The HBAR Foundation and the Crypto Factor
The HBAR Foundation, for its part, brings an innovative element to this alliance: its expertise in blockchain technology. This organization manages the treasury of Hedera, a smart contract platform based on a proof-of-stake system, launched in 2018. With a market capitalization of over $7.2 billion, Hedera and its native cryptocurrency, HBAR, are among the most significant players in the crypto ecosystem, ranking 22nd among the world's largest cryptocurrencies.
The HBAR Foundation's involvement suggests that, if the acquisition goes through, TikTok could integrate elements of decentralized technology, such as direct payments to creators via cryptocurrency or a blockchain-based rewards system. This could transform the platform into a more equitable model aligned with Web 3 principles, where users and creators have greater control over their data and earnings.
The Context: US Pressure on TikTok
The offer from Stokely and the HBAR Foundation comes at a critical time for TikTok. In 2024, the U.S. Congress passed a law, with broad bipartisan support, requiring ByteDance to sell the app to a non-Chinese entity by January 19, 2025, due to national security concerns. These concerns center around the potential for the Chinese government to access the data of TikTok's 170 million U.S. users or use the platform for influence operations. After taking office in January 2025, President Donald Trump extended the deadline to April 5, allowing more time to negotiate a sale.
If an agreement is not reached before this date, TikTok faces a complete ban in the US, a scenario that its proponents consider a violation of the freedom of expression guaranteed by the First Amendment.
Meanwhile, ByteDance has shown resistance to selling, especially its valuable recommendation algorithm, the export of which would require Chinese government approval under strict regulations.
Fierce Competition: Amazon and Other Contenders
The proposal from Zoop and the HBAR Foundation isn't the only one on the table. Amazon, the e-commerce giant, also submitted a last-minute offer this week, according to the New York Times. However, sources close to the White House indicate that this proposal is not being taken seriously by the administration. Other contenders include Oracle, Microsoft, and private equity firms such as Andreessen Horowitz and Blackstone, which are seeking to form consortiums to acquire TikTok and separate it from ByteDance.
Despite the competition, the alliance between Stokely and the HBAR Foundation stands out for its disruptive approach. While giants like Amazon could integrate TikTok into their existing ecosystems, Zoop and HBAR promise a radical restructuring that prioritizes creators and leverages blockchain technology to offer greater transparency and fairness.
What's Next for TikTok?
With the clock ticking toward April 5, TikTok's fate in the United States remains uncertain. The final decision will rest with President Trump, who has expressed confidence in reaching an agreement, although he has not ruled out extending the deadline again if negotiations require it. For Stokely and the HBAR Foundation, this offer represents an opportunity not only to acquire one of the world's most influential platforms, but also to redefine the social media landscape.
If its vision materializes, TikTok could become a pioneer of the decentralized digital economy, empowering creators and challenging the dominance of Big Tech. However, the path to that future is fraught with obstacles, from regulatory approval to resistance from ByteDance and competition from other heavyweights. In the coming days, the digital world will be watching one of the most momentous decisions of the modern technology era.
