Backed.by – A Bankless, Decentralized, Privacy-First Subscription Protocol

I'm curious what people think about this model. I know a lot of people dismiss projects as soon as they see "web3" but this actually seems like an interesting utility of it. Essentially an uncensorable version of Patreon that involves no banks or payment processors.

They also only take a 1% subscription (or you can choose their cut up to 10%) as opposed to Patreon's 15% cut. They do have the hurdle of getting people to use a system that's certainly more complicated than punching in a credit card or a Paypal login, but I like the idea of being able to fund creators without the ever-looming threat that the platform can cut them off at any moment.