This type of extortion is on the rise. In fact, there may be as many as 200 million who have already been scammed using this technique. (Citation 1)
This type of blackmail scams uses simple extortion tactics to shame people out of money. If you receive one of these emails, simply ignore the ransom demands, change your password and check whether your email address has been involved in a data leak.
The scam preys upon your shame, fear, or ignorance. Put simply do not be afraid. Consider the silly proposition that seeing a nude picture or video of you on the Internet could actually impact your life in a significant way. If it were true such video or picture content existed, it is unlikely anyone would even see it or use it against you. Even if someone could impact you, they could only do so in a minor way. the only real impact is your own susceptibility to shame. You can simply reject that shame and rest easy.
If you are still reading this, then you may still be concerned. Here are some articles on the topic to further your knowledge and understanding:
You do not need to buy anything. Just put in place better cybersecurity defenses, stop using the same passwords for every site you access, and remain calm while you are online.
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Citation 1: https://www.darkreading.com/threat-intelligence/database-of-200m-plus-potential-sextortion-victims-published/d/d-id/1335442