OnlyFans’ parent company bought $20M of Ethereum as revenue surged

The genitor institution of subscription level OnlyFans has go the latest steadfast to uncover its cryptocurrency holdings, showing it invested astir $20 cardinal into Ether (ETH) successful 2022.

According to an Aug. 24 fiscal filing to the UK firm registry, Fenix International reported that it had purchased immoderate $19.9 cardinal worthy of ETH betwixt 2021 and 2022. However, owed to an overall diminution successful crypto plus prices implicit the people of past year, the full worth of its Ether decreased by $8.5 cardinal by the extremity of November 2022. 

As of Nov. 30, 2022 — erstwhile ETH was worthy $1,295 apiece — which placed the carrying magnitude of the company’s ETH holdings astatine $11.4 million.

OnlyFans genitor institution purchased $19.889 cardinal worthy of Ethereum. Source: Fenix International

Despite its deficiency of archetypal occurrence successful crypto investing — overall, the level experienced coagulated maturation successful the reporting play ending November 30, 2022.

According to the filing, the company's gross accrued 16.6% from $4.8 cardinal successful 2021 to $5.6 cardinal successful 2022. Additionally, the chiefly big amusement level besides witnessed a 47% summation successful the fig of creators and a 27% summation successful full subscribers.

Related: While Friend.tech booms, decentralized societal has a retention problem

Its crypto concern isn’t the archetypal clip the institution and its executives person ventured into the integer plus space. In Feb. 2022, the platform allowed verified creators to alteration their illustration pictures to Ethereum-based NFTs.

In June 2022, 2 erstwhile OnlyFans executives launched a personage trading paper platform called Zoop. Built connected the Ethereum scaling solution Polygon, Zoop allowed users to commercialized 3D integer playing cards of their favourite celebrities.

The disclosure of the company’s ETH holdings came arsenic adult contented creators flocked to friend.tech — crypto’s newest decentralized societal media platform — successful a bid to currency successful connected the hype.

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