What should I do

So last year I made out with a guy except *** and now he said he has photos meanwhile it's not true cos all gadgets were outside and the only picture we took I was wearing a dress and he was bare chested. Now the guy is saying that I either pay him or he will use the "photo" of me for profit. And I told him he should give me up to August. I know he has no picture and I'm thinking of a way to get him back. He has done this before to someone and I don't want to fall victim. I'm scared especially if my parents find out. They are very strict. All my friends said I shouldn't and I don't want to either but I'm scared of what he might do