The OnlyFans Parent company Fenix International, has recently revealed its cryptocurrency holdings. It has disclosed an investment of almost $20 million in Ether (ETH) between 2021 and 2022.
On August 24, according to the UK corporate registry, the company revealed acquiring about $19.9 million worth of ETH between 2021 and 2022. However, due to crypto value decline last year, their Ether holdings dropped by $8.5 million by November 2022.
By November 30, 2022, with ETH at $1,295 per coin, the company’s ETH assets were valued at $11.4 million.
Despite initial setbacks in crypto investments, the platform saw significant growth until November 30, 2022. The financial report revealed a 16.6% revenue increase, from $4.8 billion in 2021 to $5.6 billion in 2022. Additionally, the adult-oriented platform saw a 47% rise in content creators and a 27% increase in subscribers.
OnlyFans Cryptocurrency Ventures
Moreover, this isn’t the company’s first involvement with cryptocurrencies. In February 2022, the platform enabled verified content creators to switch their profile images to NFTs built on the Ethereum blockchain.
Furthermore, in June 2022, two former executives from OnlyFans introduced Zoop, a celebrity trading card platform. Operating on Polygon, Zoop provided users with the ability to trade 3D digital collectible cards portraying their favorite celebrities.
The revelation of Fenix International’s ETH holdings coincided with OnlyFans content creators flocking to Friend.tech, a novel decentralized social media platform in the crypto sphere, aiming to capitalize on the prevailing excitement.
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