The parent company of OnlyFans, Fenix International has become the latest firm to reveal its cryptocurrency holdings and has invested nearly $20 million into Ether in 2022.
Fenix International, the UK-based parent company of content subscription giant OnlyFans, reported that it had purchased about $19.9 million worth of ETH between 2021 and 2022 according to a financial filing of the UK corporate registry on 24 August 2023.
However, the company’s total ether holdings lost $8.5 million in value last year by the end of November 2022.
According to the filing, the company’s revenue increased 16.6% from $4.8 billion in 2021 to $5.6 billion in 2022.
OnlyFans was launched in 2016 for its adult content and now has become a popular way for creators to make money by selling content to subscribers.
OnlyFans, which mainly focuses on adult entertainment, saw an increase of 47% in the count of content creators and about a 27% increase in the total number of subscribers.
In February 2022, the platform let verified creators use Ethereum-based digital items called NFTs as their profile pictures.
In 2022, users spent $5.5 billion on the platform, with the company reporting $1.1 billion in sales.
Two ex-executives of OnlyFans launched a platform called Zoop for trading NFT playing cards featuring celebrities and influencers in June 2022.
The company had cryptocurrency holdings revealed because of the content creators moving to another decentralized platform Friend.tech.
Also Read: OnlyFans Founder Makes Crypto Debut with Zoop On Polygon
Credit: Source link